Thursday March 6, 6:26 pm ET
Contract Award Enhances SpaceDev Satellite Program
POWAY, CA--(MARKET WIRE)--Mar 6, 2008 -- SpaceDev, Inc. (OTC BB: SPDV.OB) announced today that it was awarded a design and development subcontract from the Air Force Research Laboratory (AFRL) Space Vehicles Directorate, for development of cost effective deployable reflectors for satellites. The award is a Phase 1 Small Business Innovation Research contract which will extend SpaceDev's deployable structures capabilities. The contract period of performance is approximately eight months, during which SpaceDev expects to demonstrate the feasibility of a new class of deployable reflectors system.
"This technology takes advantage of recent innovations in spacecraft mechanical deployment systems to form large, stable reflectors for a variety of instruments and antennae," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "This system enables the deployment of large aperture reflectors from low cost launch vehicles through the integration innovative reflectors and deployable structures technologies. We are proud to continue the development of this innovative technology that we believe will help transform how large aperture systems are deployed."
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, 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.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100, Orlando, FL 32751,
(800) 733-2447,Fax: (407) 644-0758,
info@redchip.com
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