SpaceDev, Inc. has been issued a United States patent for its hybrid propulsion technology. The U.S. Patent Office issued U.S. Patent No. 7,069,717, entitled “Hybrid Propulsion System,” to SpaceDev for technology related to fine altitude and control systems on a spacecraft. The patented Hybrid Propulsion System provides increased control of thruster minimum impulse over conventional systems while simultaneously reducing oxidizer waste. This translates to reduced costs and higher efficiency for SpaceDev’s systems. According to the patent, liquid oxidizer from a main motor is used in a gas thruster by converting the liquid oxidizer to a gas state. This ensures that gas, rather than liquid, is delivered to the thruster.
“As indicated by the issuance of this patent, SpaceDev continues to make an impact in the private Space technology arena with our affordable and innovative space products and solutions,” said Jim Benson, SpaceDev Chairman and Chief Technology Officer. “The historic flight of SpaceShipOne in October 2004 was a testament to the capability of this Company’s proprietary rocket motor technology and, we believe, only the beginning of what SpaceDev will ultimately accomplish.”
The technology behind the patent was developed and funded by SpaceDev. The SpaceDev inventors cited in the “Hybrid Propulsion System” patent are Chris Grainger, Manager Mechanical and Fluids Engineering and Frank Macklin, Vice President Engineering.
“We are continuing a strong tradition of intellectual property protection,” said Mark N. Sirangelo, SpaceDev Vice Chairman and Chief Executive Officer. “We have filed and continue to file patents where appropriate, to position SpaceDev as a technology leader. In some cases, we have chosen to maintain trade secret status on certain technology; however, we have filed both an umbrella patent and niche patents for our hybrid propulsion technology protection.”
About SpaceDev
SpaceDev (OTCBB: 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 as well as sub-orbital and orbital hybrid rocket-based propulsion systems for safe human space flight. In addition, Starsys, Inc., a wholly-owned subsidiary of SpaceDev, 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.
Forward-Looking Statements
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 effectively perform under its many government contracts, (ii) any rescheduling or cancellation of the Missile Defense Agency contract or any other customer order, including the size and timing of Task Orders delivered, (iii) the uncertainties in the government budgeting process, (iv) the Company’s ability to control costs and expenses, and (v) the need for additional financing to support the 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.
Contact: The Investor Relations Group
Investor: Dian Griesel/Tom Caden/Erika Moran
Media: Mike Graff 212/825-3210
