SOURCE: SpaceDev, Inc.
April 10, 2007 09:30 ET
SpaceDev and United Launch Alliance to Explore Launching the Dream Chaser™ Space Vehicle on an Atlas V Launch Vehicle
Combined System Could Be Used Commercially to Launch Passengers and Cargo to ISS and Emerging Entrepreneurial Space Complexes
POWAY, CA -- (MARKET WIRE) -- April 10, 2007 -- SpaceDev, Inc. (OTCBB: SPDV) has finalized a
Memorandum of Understanding with United Launch Alliance to pursue the
potential of launching its SpaceDev Dream Chaser™ space vehicle carrying
passengers and cargo on an Atlas V launch vehicle. Destinations could
include the International Space Station (ISS) and other commercial orbital
destinations as well as for commercial orbital space tourism flights.
The SpaceDev Dream Chaser™ space vehicle is being designed to provide a
reusable and reconfigurable platform that is environmentally friendly,
provides enhanced safety and provides affordable access for space-based
activities for the US government, entrepreneurs and small businesses. This
unique space transportation system is designed to reliably and safely carry
crew/passengers and cargo in the suborbital and orbital flight regimes.
The SpaceDev Dream Chaser™ space vehicle can be adapted to various
mission configurations including carrying six to eight people to and from
space or a combination of people and cargo. It provides a safe and
affordable solution for civil and commercial space operations and is a
piloted space solution which launches vertically and lands horizontally on
conventional runways. Initial flight launch demonstrations are scheduled
"We believe that creative solutions are the key to business success in
space. The cooperation of an emerging space company such as SpaceDev,
working with an established flight-proven launch system like Atlas is one
clear path to making this happen," said Mark N. Sirangelo, SpaceDev's
Chairman and Chief Executive Officer. Mr. Sirangelo added, "We look
forward to investigating the use of the Atlas V as a major part of our
Dream Chaser™ transportation system that will provide lower cost and
reliable access to space. The heritage design work that is being utilized
in the Dream Chaser™ and our own on-board hybrid propulsion system
allows us to combine strong technology in an innovative manner to make
access to space a reality."
SpaceDev will work with United Launch Alliance to explore the technical
requirements for commercial launch services needed to transport crew and
cargo to space. SpaceDev and Atlas will conduct compatibility analysis of
integrating a Dream Chaser™ on an Atlas V launch vehicle. This analysis
will include both a comprehensive technical feasibility review and
programmatic review of the overall business case required to ensure success
of the concept.
Atlas is presently used to launch government and commercial payloads to a
wide range of orbits. Its reliability record is at the top of the space
industry. The SpaceDev Dream Chaser™ would likely be launched aboard
the flight-proven Atlas V 431 configuration. SpaceDev and United Launch
Alliance will utilize the launch industry's most experienced and successful
Atlas and Delta teams to develop low-risk solutions to demonstrate the
feasibility of launching Dream Chaser™ on an Atlas.
SpaceDev, headquartered in Poway, CA, designs and produces affordable and
innovative space products and solutions for government and commercial
enterprises. SpaceDev products and solutions include the design,
manufacture, marketing, and operation of sophisticated micro and nano
satellites, hybrid rocket-based orbital Maneuvering and orbital Transfer
Vehicles (MoTVs), as well as safe suborbital and orbital hybrid
rocket-based propulsion systems. SpaceDev also has design and
manufacturing facilities in Louisville, Colorado and Durham, North
Carolina. 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. 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.