Message #41 From:
NewsBot Date: February 20, 2008 08:19:10 AM
SpaceDev Awarded Contract From Space Systems/Loral
Contract Expands SpaceDev's Commercial Space Business
SpaceDev, Inc. (OTCBB: SPDV) has been awarded
contracts to deliver satellite battery bypass switches for Space
Systems/Loral (SS/L) of Palo Alto, California in support of the 1300-series
spacecraft platform. The contracts will support several commercial
satellites. SpaceDev will provide its patented Starsys Cell Shorting
Device (CSD), a battery cell bypass device incorporating its high-output
paraffin technology. The device monitors the health of individual battery
cells and automatically isolates a cell from the spacecraft if needed to
preserve the integrity of the spacecraft power supply. Deliveries are
scheduled to begin in early 2008.
"The ongoing production of the CSD product is an important part of a
developing relationship with Space Systems/Loral. This order, which
includes long-lead procurements for future buys, reflects the value and
importance of this technology for Loral's 1300 spacecraft," said Mark N.
Sirangelo, SpaceDev's Chairman and CEO. "Our high-efficiency CSDs prolong
battery life and improve the system reliability to ensure crucial mission
capabilities are met. It is a spaceflight-proven product with over 11
million hours of successful in-service operation."
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 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 associated with the
Company's ability to effectively manage schedule changes, control costs,
and obtain 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.
SpaceDev Investor Relations
Investor Contact:
Richard Slansky/Jessica Schwarz
Media Contact:
Mark Sirangelo
(858) 375-2026
