SOURCE: SpaceDev, Inc.

February 12, 2007 14:16 ET

SpaceDev's Starsys Division Successfully Tests System for General Dynamics Advanced Information Systems

Starsys to Provide Ground Link Antenna Pointing System for GeoEye-1 Program

POWAY, CA -- (MARKET WIRE) -- February 12, 2007 -- SpaceDev (OTCBB: SPDV) announced today that its subsidiary, Starsys Inc., has successfully tested the low disturbance actuation system for the ground link antenna pointing gimbal for the GeoEye-1 satellite, currently being built by General Dynamics Advanced Information Systems. Validation of this technology is a significant milestone in the $2.0 million contract for the design, development and qualification of the gimbal and control electronics. The GeoEye-1 program is GeoEye's next-generation, high-resolution commercial remote-sensing satellite scheduled for launch in early 2007.

"The completion of the disturbance torque testing marks a significant milestone in the design qualification of the gimbal and control electronics," said Mark N. Sirangelo, SpaceDev Chairman and CEO. "Our Quiet Array Drive technology is enabling for spacecraft that require low disturbance torque actuation without the cost and complexity of brushless motor systems. This technology is mission-critical to our customer, General Dynamics, and we are committed to meeting their requirements and supporting a successful mission."

The Starsys antenna pointing gimbal is a unique design that greatly reduces motion imparted to the GeoEye-1 spacecraft to allow pictures to be taken while data is simultaneously transmitted to earth ground stations. Starsys' low disturbance torque technology has proven enabling to missions where the level of spacecraft jitter directly influences the quality of imagery or science of spacecraft payload instruments. Starsys has successfully applied this technology to Solar array drive systems and antenna pointing systems as an alternative to conventional closed looped brushless DC motor servo systems, which are typically much larger, more complex and more expensive to implement.

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 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 integrate acquisitions; rescheduling or cancellation of customer orders; uncertainties in the government budgeting process; ability to control costs and expenses; and, the possible need for 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 Gerstenkorn
    Media Contact:
    Mark Sirangelo
    (858) 375-2026