DGAP-News: European Space Propulsion Secures First Flight Contract to Deliver FORMOSAT- 7 Thrusters

European Space Propulsion 

21.06.2013 18:32
---------------------------------------------------------------------------

BELFAST, Northern Ireland, 2013-06-21 18:31 CEST (GLOBE NEWSWIRE) --
European Space Propulsion, an Aerojet Rocketdyne company, announced today that
it has signed a contract with Surrey Satellite Technology Limited (SSTL) for
the delivery of 19 MR-103 thrusters for the FORMOSAT-7 program. 

This first award for ESP includes delivery of thrusters for six spacecraft and
an option for hardware for an additional six spacecraft. FORMOSAT-7/COSMIC-2
program is a joint constellation metrological satellite mission between Taiwan
and the United States for observing and monitoring the global meteorology,
climate and ionosphere. 

'This first award represents a key step in establishing the foundation of ESP,'
said Bill Smith, head of Business Development for ESP and Aerojet Rocketdyne in
Europe.  'We welcome the opportunity to bring high performance in-space
propulsion to SSTL and Europe's growing portfolio of satellites.' 

The MR-103G thruster, a 1N hydrazine monopropellant thruster, was designed and
flight proven by Aerojet Rocketdyne.  The MR-103 has a long flight heritage for
use on a variety of space programs including commercial and civil spacecraft.
The MR-103 was originally designed for the Voyager program and the thrusters on
that vehicle remain operational today nearly 36 years after launch. 

'ESP represents a new competitive force in the European arena,' said Aerojet
Rocketdyne President, Warren M. Boley, Jr.  'It will maintain a strong European
identity while leveraging Aerojet Rocketdyne's seven-decade legacy of
propulsion performance. International collaboration, which is fundamental to
ESP's approach, will lower costs and enhance customer support.' 

About European Space Propulsion Limited

European Space Propulsion (ESP), located in Belfast, Northern Ireland UK is a
new entrant to the European space propulsion market. ESP provides Aerojet
Rocketdyne heritage products and services for in-space propulsion through its
relationship with European manufacturing and test organization, Thales Air
Defense Ltd., also based in Belfast.  Additional information about ESP can be
obtained by visiting the company's website at www.espdeltav.co.uk/. 

About Aerojet Rocketdyne

Aerojet Rocketdyne is a world-recognized aerospace and defense leader providing
propulsion and energetics to the space, missile defense, strategic, tactical
missile and armaments sectors for both domestic and international markets. Find
out more about the new Aerojet Rocketdyne at http://www.Rocket.com. 


         CONTACT: Glenn Mahone, Aerojet Rocketdyne, 202.302.9941
         Glenn.Mahone@Rocket.com
News Source: NASDAQ OMX



21.06.2013 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      European Space Propulsion
              
               
              United States
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         US9902660821
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------