SOURCE: SpaceDev, Inc.

March 27, 2007 11:00 ET

SpaceDev Awarded Operationally Responsive Space Payload Development Contract

POWAY, CA -- (MARKET WIRE) -- March 27, 2007 -- SpaceDev (OTCBB: SPDV) has been awarded a contract from the Naval Research Laboratory (NRL), in response to the Operationally Responsive Space Payload Technology Broad Agency Announcement. The award is for the preliminary design of the Combined Optical, Radio, Radar Instrument (CORRI), designed for a small satellite payload application. CORRI integrates three independent capabilities into a single instrument suite: high resolution optical/IR imagery, high-gain broadband RF up/downlink and sensitive proximity radar.

"This program furthers our long-standing relationship with NRL in support of the Operationally Responsive Space Effort," said Mark Sirangelo, SpaceDev's Chairman and Chief Executive Officer. "Our past contributions have included providing key technologies for the groundbreaking Clementine and STEX small-sat missions. We believe the CORRI payload will prove enabling for microsats. This program builds on our design advances in instrument packaging to provide a smaller, very capable package with significant utility for ORS missions. The CORRI design will be matured from previous work done for the Air Force Research Laboratory."

About SpaceDev

SpaceDev, Inc. is a space technology/aerospace company that creates and sells affordable and innovative space products and mission solutions. For more information, visit and

Except for factual statements made herein, this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "believe," "intends," "expects," "plans," "anticipates" and variations thereof, identify forward-looking statements, although their absence does not mean that a statement is not forward looking. Forward-looking statements are based on the Company's current expectations, and are not guarantees of performance. The Company's actual results could differ materially from its current expectations. Factors that could contribute to such differences include risks and uncertainties associated with: the Company's ability to effectively integrate acquisitions; rescheduling or cancellation of customer orders; uncertainties in the government budgeting process; ability to control costs and expenses; and, the possible need for additional financing. Reference is also made to other factors described in the Company's periodic reports filed with the SEC, including the Company's most current Annual Report on Form 10-KSB and subsequent Quarterly Reports on Form 10-QSB. These forward-looking statements speak only as of the date of this release. SpaceDev does not intend to update these forward-looking statements.

Contact Information

  • SpaceDev Investor Relations
    Investor Contact:
    Richard Slansky/Jessica Gerstenkorn
    Media Contact:
    Mark Sirangelo
    (858) 375-2026