Message #44 From:
NewsBot Date: March 4, 2008 05:30:52 AM
SpaceDev Awarded NASA Contract for New Rocket Program
Development to Broaden Applicability of Hybrid Propulsion
SpaceDev, Inc. (OTCBB: SPDV) announced today that
it has been awarded a contract by NASA's Marshall Space Flight Center for
the research and development of its next generation proprietary annular
hybrid rocket motors. The contract work will be performed over a six-month
period, during which SpaceDev is expected to conduct development testing
with the objective of validating performance parameters. This technology
could provide significant improvements to hybrid rockets in terms of both
performance and packaging efficiency that could significantly broaden their
overall applicability and value.
"We've been continuing our development of advanced rocket motors for
spacecraft and this is a strong next step in that process. Our cooperation
with NASA and specifically with the Marshall Space Flight Center is of
major importance to us. Their experience and knowledge will provide
considerable added value to the important work being conducted by our
propulsion team," said Mark N. Sirangelo, SpaceDev's Chairman and Chief
Executive Officer. "This technology could allow hybrid rocket motors to
establish a presence in areas they have not been historically considered in
commercial, civil space and military applications."
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.
This news release may contain "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve risks that are difficult to predict, 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 or cancellation of customer orders, control costs and obtain
additional financing. The Company also references other factors described
in periodic reports filed with the SEC, including its 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 Contacts:
Richard Slansky/Jessica Schwarz
Media Contact:
Mark Sirangelo
(858) 375-2026
