SOURCE: SpaceDev, Inc.

March 13, 2008 08:00 ET

SpaceDev on DARPA F6 Program Team

New Spacecraft Design Program to Explore Modular Design

POWAY, CA--(Marketwire - March 13, 2008) - SpaceDev, Inc. (OTCBB: SPDV) announced that it is on the team led by Orbital Sciences Corporation, which was awarded a space technology demonstration contract from the Defense Advanced Research Projects Agency (DARPA). The award is for the Future, Fast, Flexible, Fractionated, Free-Flying Spacecraft United by Information Exchange (System F6) space technology and demonstration program.

The program is intended to "demonstrate that a traditional, large, monolithic satellite can be replaced by a group of smaller, individually launched, wirelessly networked and cluster-flown spacecraft modules," as stated in a news release by DARPA last week. The full DARPA press release can be found on DARPA's website at www.darpa.gov/body/news/2008. Other companies on the Orbital team include; IBM, Jet Propulsion Laboratory, Georgia Institute of Technology, and Aurora Flight Sciences.

"We congratulate Orbital for this significant first phase contract award and express our appreciation for the opportunity to be part of this terrific team," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "This technology has the potential to significantly alter spacecraft design and we are very excited to be providing a contribution to this effort."

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 www.spacedev.com.

Except for factual statements made herein, this news release contains forward-looking statements that involve risks 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 associated with the Company's ability to effectively manage schedule changes or cancellation of customer orders, control costs, and obtain 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 Schwarz
    Media Contact:
    Mark Sirangelo
    (858) 375-2026