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SpaceDev subsidiary awarded $750,000 contract

SpaceDev (OTCBB: SPDV) announced Wednesday that its subsidiary, Starsys Inc., in partnership with the University of Colorado Laboratory for Space Physics, has been awarded a contract from the Missile Defense Agency.

Starsys will design and develop a non-sticking cover seal system for the Exo-atmospheric Kill Vehicle program, which is the kill vehicle component of the Ground Based Interceptor, the weapon element of the Ground-based Midcourse Defense System program. The contract has been awarded under the Small Business Technology Transfer Program that provides research funding for partnerships between industry and non-profit research institutions.

"The Starsys cover seal system is unique in that it provides an effective seal against external environments with very low forces required for cover deployment," said Jon Evans, vice president of business development. "The technology forwarded in this program is an innovative use of a seal system designed for a very different application. The soft-metal seal at the heart of this effort was originally designed for on-orbit fluid transfer."

SpaceDev is a Poway-based company trying to develop methods of civilian space travel. The Missile Defense Agency program contract value is $750,000 with the effort scheduled to complete in 2008. The award is an extension of a Phase 1 program completed in 2006.

"This cross-functional application of technology is an excellent example of our company's innovative and efficient approach to meeting design challenges,” said Mark N. Sirangelo, SpaceDev's chairman and chief executive officer. “This technology is mission critical to our customer, the Missile Defense Agency, and we are committed to meeting their requirements and supporting a successful mission."

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