SOURCE: Space Propulsion Systems, Inc.

November 29, 2006 08:12 ET

SPS Approves New Facility Design and Clears Engineering Plan for Initial Manufacture of Patented New Generation Solid Rocket Propellants

CLEARWATER, FL -- (MARKET WIRE) -- November 29, 2006 -- Space Propulsion Systems, Inc. (PINKSHEETS: SPSY) today announced that engineering review and internal approvals of its new manufacturing facility have been completed in line with the Company's obligations under the Letter of Intent for Funding executed last March (See March 31, SPS News Release). The facility, including all necessary scientific instruments and equipment, is expected to cost between $3.5 and $4.5 million, and construction is planned to begin during the first half of 2007, subject to governmental approvals. The ultramodern facility will contain State-of-the-Art Laboratory Facilities for engineering, manufacturing and testing SPS's patented Supercritical Fluids fabricated Micro-Fuel Cell (SCF-MFC) for solid rocket propellants. The facility will also support the application of supercritical fluid manufacturing processes to a wide range of other products and uses, such as mineral extraction from ores, to mention but one of many examples. This facility will be capable of supporting up to 15 additional scientists and engineers, as well as increased support staff. The facility will also house the Company's Executive Offices. The facility design adheres to U.S. Department of Defense Industrial Security specifications, and is intended to enable the Company to meet the aerospace industry standards, known as AS9100, established by the International Standards Organization that would facilitate acceptance of the Company's products worldwide.

Personnel from the University of South Florida ( with expertise in manufacturing technology using Supercritical Fluids, Artificial-Intelligence-Based process control systems, and instrumentation, along with experts from other prestigious institutions and laboratories, are expected to play a significant role in the SCF-MFC New Generation Solid Propulsion technology of SPS.

SPS is the owner of a process patent for the manufacture of a New Generation of advanced performance rocket propellant using supercritical fluid technology. Its stock trades over-the-counter via the Pink Sheets under the symbol Its web site is

Safe Harbor:

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

Contact Information

  • Contact:
    KD Everton
    Space Propulsion Systems Inc
    Phone 727 524 8808
    Fax 727 524 1617

    4707 140th Ave N
    Suite 303
    Clearwater, FL 33762-3840