Press Release

SpaceDev’s Starsys Division Awarded Two Contracts from the Air Force Research Laboratory for Satellite Boom Structures

By SpaceRef Editor
April 4, 2006
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Starsys Inc., a SpaceDev Company has been awarded two contracts totaling $2.45 million from the Air Force Research Laboratory (AFRL) Space Vehicles Directorate, for continued development of deployable boom structures for satellites. Both awards are Phase 2 Small Business Innovation Research (SBIR) contracts resulting from design and trade study work completed during Phase I SBIRs.

Mark Sirangelo, SpaceDev’s Chief Executive Officer said, “This is an excellent example of the value of Starsys to SpaceDev’s future. The results of this effort will provide us a clear advantage in this very exciting sector of advanced spacecraft development and is highly synergistic with many of our future space programs and products.”

Deployable booms are innovative mechanical systems that unfold from a spacecraft to form large stable structures used to position instruments and sensors. These systems enable the launch and deployment of large aperture sensors – in some cases using small spacecraft. The AFRL contracts focus on the design and development of flight experiments to validate innovative and enabling deployable space structures using several unique boom architectures. SpaceDev expects such deployable technologies to be commercialized and implemented on multiple programs.

Robert Vacek, President of Starsys further commented, “These contract awards provide Starsys the opportunity to further advance its innovative deployable structures technology and provide a platform to demonstrate several mission-enabling technologies important to the Department of Defense, Civil, and Commercial markets.”

About SpaceDev

SpaceDev 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 as well as sub-orbital and orbital hybrid rocket-based propulsion systems for safe human space flight. In addition, Starsys Research Corporation was acquired by SpaceDev on January 31, 2006, renamed Starsys, Inc., and is now a wholly-owned subsidiary of SpaceDev. Starsys is engaged in the design and manufacture of mechanical and electromechanical subsystems and components for spacecraft. Starsys’ subsystems enable critical spacecraft functions such as pointing solar arrays and communication antennas and restraining, deploying and actuating of moving spacecraft components. For more information, visit www.spacedev.com.

Except for the factual statements made herein, the information contained in this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism and satisfaction with current prospects, as well as 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. Such forward-looking statements are not guarantees of performance, and the Company’s actual results could differ materially from the Company’s current expectations based on many factors that are directly or indirectly related to the items discussed above. Factors directly related to the subject of this release that could cause or contribute to such differences include risks and uncertainties associated with: (i) the Company’s ability to successfully execute on Starsys programs and develop satellite boom structures; (ii) the Company’s ability to effectively integrate operations and effectively execute its business plan, including Starsys; (iii) any loss of a major customer or rescheduling or cancellation of customer orders; (iv) the uncertainties in the government budgeting process; (v) the combined company’s ability to control costs and expenses; (vi) the possibility of further cost overruns on fixed-price contracts; and, (vii) the need for additional financing to support the combined business. Reference is also made to other factors set forth in the Company’s periodic reports filed with the Securities and Exchange Commission, including “Management’s Discussion and Analysis” and other sections of 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, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release.

SpaceRef staff editor.