SOURCE: SpaceDev, Inc.

January 24, 2008 08:00 ET

SpaceDev to Produce Electromechanical Products for Space Systems/Loral

Contract Builds on SpaceDev Low Disturbance Torque Capability

POWAY, CA--(Marketwire - January 24, 2008) - SpaceDev, Inc. (OTCBB: SPDV) announced today that it recently signed a long-term purchase agreement with Space Systems/Loral (SS/L) to provide mission-critical flight hardware components for the 1300-Series spacecraft platform. Additional orders are expected over the duration of the multi-year agreement.

SpaceDev components incorporated in the long-term agreement include high-efficiency solar array drive stepper motor actuators, and high-accuracy, high-stiffness antenna pointing mechanisms. Both devices incorporate Starsys' QuAD low disturbance torque technology to greatly reduce imparted motion during actuator operation, thereby enhancing spacecraft performance.

"SpaceDev looks forward to supporting Space Systems/Loral and working closely with their team over the coming years," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "Our Loral contract is an important step in the expansion of our commercial satellite products business. This blend of product offering illustrates our ability to develop and produce enabling products that enhance capability while improving efficiencies and reliability of high-performance satellite systems."

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 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

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