POWAY, Calif., Dec. 12, 2005 (PRIMEZONE) -- SpaceDev (OTCBB:SPDV) has made commercial launches of microsatellites and nanosatellites available for less than $20 million in less than 20 months with the introduction of the SpaceDev Mission Xcelerator(tm) Solution Program.
"We are committed to providing rapid, reliable, low-cost access to space, as reinforced by the price and performance standards embodied in our recently announced SpaceDev Modular Microsatellite Bus (the SpaceDev MMB-100)," said Jim Benson, founding chairman and chief executive officer of SpaceDev. "Our new Mission Xcelerator Solution Program combines the MMB-100 and a rocket launch vehicle with payload integration services, launch management services and one year of mission support services at a price never before offered -- less than $20 million, with an inception to launch target of 20 months."
"This is an exciting development for the emerging low-cost space market," said Bill McCoy, CEO of New Galaxy Enterprises and an aerospace industry analyst. "SpaceDev is developing a reputation for aggressively attacking the traditional barriers to space: high cost, complexity and long lead times. Their novel hybrid rockets and innovative microsatellite designs have provided functionality at a fraction of the historical cost. They are extending their aggressive approach to satellite and rocket design into payload integration, launch services and mission operations."
SpaceDev recently announced that it signed a contract with SpaceX of El Segundo, CA, for the purchase of a Falcon I launch vehicle that SpaceDev intends to use to launch multiple microsatellite payloads and nanosatellite payloads that may be produced by SpaceDev or other suppliers in a launch scheduled for May 2008. Additional optional launches may follow.
"We are anxiously awaiting the successful testing of the SpaceX Falcon I launch vehicle, which is an important component of our initial Mission Xcelerator Solution Program offering. With it, SpaceDev has the capability to design, build, integrate and launch low-cost, high-performance micro- and nano-satellites," commented Kevin Heath, SpaceDev's business development manager. "SpaceDev now uniquely offers one-stop shopping for responsive, affordable and reliable access to space for a wide variety of payloads."
For more information visit our website at www.spacedev.com or contact:
Kevin M Heath Business Development Manager Kevin.heath@spacedev.com 858-375-2012
About SpaceDev
SpaceDev (OTCBB:SPDV) is a high tech space development company that creates and sells affordable and innovative high tech 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. SpaceDev designs and builds safe hybrid rocket motor propulsion systems for sub-orbital and orbital transportation systems for cargo and for 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.
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 contract with third party's for payloads to be carried by a proposed launch, (ii) the Company's ability to integrate a particular proposed payload to the satellite bus and (iii) the development and launch capabilities of the Falcon I launch vehicle. 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.