SOURCE: SpaceDev, Inc.

July 11, 2007 12:53 ET

SpaceDev to Manufacture Spacecraft Release Mechanism for Saab

Contract Award Expands Low-Shock Mechanisms Products

POWAY, CA--(Marketwire - July 11, 2007) - SpaceDev, Inc. (OTCBB: SPDV) announced today that it has been awarded a contract to manufacture sixty low-shock spacecraft release mechanisms for Saab Space AB (Linkoping, Sweden). This is the third major production order for Starsys' Clamp Band Opening Device (CBOD), a derivative of Lockheed's patented Fast Acting Shock-less Separation Nut (FASSN) technology transferred to Starsys in the late 1990s for development and commercialization. SpaceDev's Starsys CBOD has become the spacecraft release mechanism of choice for most launch vehicle integrators, including United Launch Alliance, Sea-Launch and most recently Arianne, due to its demonstrated on-orbit performance in separating payloads in a very controlled manner with shock loads significantly less than conventional pyrotechnic systems.

"We are proud to be a continuing supplier of this mission critical hardware to Saab Ericsson Space. This contract furthers a relationship that has been developing between our companies over the past decade," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "The FASSN is an extraordinary technology, and within our Starsys CBOD, it provides an enabling capability for future spacecraft systems. We believe that this third contract, in conjunction with the recent successes of the FASSN/Starsys CBOD on both Orbital Express and Arianne 5, firmly establishes this technology as the standard for low-shock spacecraft separation."

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 please 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. 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 Gerstenkorn
    Media Contact:
    Mark Sirangelo
    (858) 375-2026