Message #48 From:
NewsBot Date: March 20, 2008 10:57:01 PM
SpaceDev Awarded International Space Station Contract
Resupply Program Will Provide Subsystems for Japanese H2 Transfer Vehicle
SpaceDev, Inc. (OTCBB: SPDV) has been awarded a
contract from IHI-Aerospace (Japan) to manufacture multiple flight
ship-sets of precision space mechanisms for the H2 Transfer Vehicle (HTV).
Included are low-shock release devices used to restrain the HTV's exposed
cargo pallet during launch, and release it on orbit for transfer to the
International Space Station. The contract also calls for SpaceDev to
supply high-output paraffin release mechanisms and a brush motor. Hardware
for operational HTV spacecraft will be delivered over the next six years.
"We are very pleased to announce this contract win which is one of the
Company's largest in recent years. Our release mechanisms utilize our
exclusively licensed Fast Acting Shock-less Separation Nut (FASSN)
technology," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "Our
FASSN has the ability to release very high loads with low shock levels, and
we believe it has already proven itself as the technology of choice for
spacecraft/launch vehicle separations, being adopted by launch vehicle
suppliers such as United Launch Alliance, Sea Launch, and most recently
Arianne. With the upcoming retirement of the Shuttle, alternate sources of
resupply to the International Space Station are becoming increasingly
important, which we believe will lead to a long life for this program. We
are honored to be supporting IHI-Aerospace (Japan) in this effort."
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," 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 manage schedule changes,
control costs, 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.
