Press Release

SpaceDev Awarded Nanosat Hybrid Propulsion Contract

By SpaceRef Editor
June 14, 2005
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SpaceDev (OTCBB: SPDV – News) has been awarded approximately $100,000 to begin developing a nanosat hybrid propulsion system under a new Phase I Small Business Innovation Research contract from the Air Force Research Laboratory at Edwards Air Force Base.

“Existing high performance propulsion systems do not easily scale to nano-class satellites because they either require a larger number of parts, or they are limited in the propulsive maneuvers available. This project extends good performance, simplicity, storability, and restart capability, all advantages of the hybrid propulsion system, to nano-satellites,” said SpaceDev propulsion specialist Chris Grainger.

SpaceDev’s latest project consists of three stages. The first stage will define the system parameters; perform trade studies and preliminary analysis of the feed, igniter system, and nozzle. The second stage will define the key components of the complete nanosat propulsion unit. The final stage involves preparing for a Small Business Innovation Research Phase II contract. Phase II, if awarded, would include design, fabrication and ground testing of the key components and the system as a whole. Phase III, if fully funded, would progress to a launched, fully operational nanosat hybrid propulsion system for in-space testing and demonstration.

“This project fits perfectly with SpaceDev’s corporate culture of developing simple, high performance, miniaturized space technologies for use in a wide variety of applications,” said SpaceDev founding chairman and CEO Jim Benson. “The successful development of this unique nano-propulsion system will add important new capabilities to our small satellites and to our growing base of intellectual property.”

About SpaceDev

SpaceDev (OTCBB: SPDV – News) creates and sells affordable and innovative space products and solutions to government and commercial enterprises. SpaceDev’s innovations include the design, manufacture, marketing and operation of sophisticated micro- and nano-satellites, hybrid rocket-based orbital Maneuvering and orbital Transfer Vehicles (MoTVs) as well as sub-orbital and orbital hybrid rocket-based propulsion systems for safe human space flight. Upon founding SpaceDev in 1997, Jim Benson started the trend of successful computer entrepreneurs moving into the space development arena. For more information, visit www.spacedev.com.

This news release may contain forward-looking statements concerning the Company’s business and future prospects and other similar statements that do not concern matters of historical fact. Forward-looking statements are based on the Company’s current expectations. The Company’s current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures outlined in the Company’s periodic reports filed with the U.S. Securities & Exchange Commission. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release and to read it in conjunction with the Company’s annual report on Form 10-KSB, including the consolidated financial statements filed therewith. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.

SpaceRef staff editor.