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 in 2009.

"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.

About SpaceDev

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 and

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

  • Contact:

    SpaceDev Investor Relations
    Investor Contact:
    Richard Slansky/Jessica Gerstenkorn
    Media Contact:
    Mark Sirangelo
    (858) 375-2026