SOURCE: SpaceDev, Inc.

March 14, 2007 18:29 ET

SpaceDev Congratulates DARPA/Boeing on Orbital Express Launch

POWAY, CA -- (MARKET WIRE) -- March 14, 2007 -- SpaceDev, Inc. (OTCBB: SPDV) congratulates the DARPA/Boeing team on the successful launch of Orbital Express. Liftoff occurred on March 8th from Space Launch Complex 41, Cape Canaveral Air Force Station, Florida. Following a nominal flight, the United Launch Alliance Atlas V rocket successfully deployed the spacecraft to a low-Earth orbit. Starsys, a division of SpaceDev, is the Orbital Express program partner responsible for the capture and separation systems.

"We look forward to a successful demonstration of the Orbital Express technologies through the coming year," said Mark N. Sirangelo, Chairman and CEO of SpaceDev.

The goal of the Orbital Express program is to validate the feasibility of robotic, autonomous on-orbit refueling and reconfiguration of satellites. DARPA foresees that Orbital Express-derived satellites will usher in a revolution in space operations, enabling maneuverable and upgradable satellites supporting critical national security missions, as well as new and enhanced capabilities for civil and commercial space activities. Starsys subsystems provide two critical functions to the mission: shock-less separation of the two OE spacecraft after launch, and capture and docking of the spacecraft prior to servicing.

Orbital Express is being developed by DARPA. A successful OE demonstration will provide the foundation for developing an operational system that can provide routine on-orbit servicing of existing satellites as well as future space assets.

About SpaceDev

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

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. 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

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