SOURCE: SpaceDev, Inc.

March 10, 2008 13:59 ET

SpaceDev Satellite Chosen for ORS Inaugural Jumpstart Mission

Company's Spacecraft to Be Readied for 2008 Launch

POWAY, CA--(Marketwire - March 10, 2008) - SpaceDev, Inc. (OTCBB: SPDV) announced today that it has been selected to provide the first commercial satellite to be readied for the Department of Defense Operationally Responsive Space Office's (ORS) new Jumpstart Mission. Jumpstart is a multi-pronged effort that will fly a responsive payload on the SpaceX Falcon 1 Flight 003 mission, currently scheduled for a June 2008 launch from Kwajalein Atoll in the Marshall Islands.

Colonel Kevin McLaughlin, Director of the ORS Office, stated, "The Jumpstart mission is an exciting and important milestone for the ORS Office. It brings together a diverse government and industry team to demonstrate numerous ORS enablers needed to bring space power to our deployed forces. The SpaceDev satellite bus is expected to be a key contributor in the responsive satellite arena and we are pleased to be their teammate on this important mission."

The Jumpstart mission will achieve multiple objectives for the newly formed ORS Office. First, it will demonstrate agility and flexibility in the rapid integration of payloads. The Jumpstart mission will also demonstrate several ORS enablers and establish a framework for responsive processes. These enablers include a demonstration of the following: rapid call up of a mission to launch; rapid development, integration and checkout of spacecraft; a concept of operations that allows flexibility late in the payload processing flow to determine which mission will fly; efficiencies in processes and procedures to reduce payload integration timelines; and identification and assurance of payload technical readiness.

"We would like to thank ORS for having the confidence in SpaceDev as the prime contractor, and its team to be part of this historic mission," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "Our ORS bus is a derivative of the micro-satellite space technology developed by us for the Missile Defense Agency and builds upon the significant investment in that program. We believe that this is a significant step in the advancement of small satellites as part of our space program."

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 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 manage schedule changes or cancellation of customer orders, control costs and expenses, and obtain additional financing, if needed. 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