SpaceDev Awarded Nanosat Hybrid Propulsion Contract
6/14/2005 8:30:02 AM
POWAY, Calif., Jun 14, 2005 (BUSINESS WIRE) -- SpaceDev (SPDV) 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 (SPDV) 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.
SOURCE: SpaceDev
The Investor Relations Group
Investor Contact:
Kathryn McNeil, John Nesbett or Dian Griesel
Media Contact:
Mike Graff or Stephanie Schroeder
212-825-3210
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