SpaceDev Propulsion Technology Spin-Offs From SpaceShipOne Program

SpaceDev
announced today that it has created a propulsion
program that includes the SpaceDev Streaker(TM) — a low-cost small launch
vehicle — an orbital transfer space tug — and other propulsion products
based in part on SpaceDev’s development of a hybrid rocket motor related to
the SpaceShipOne vehicle announced by Scaled Composites ( www.scaled.com ) on
April 18, 2003.

“SpaceDev is proud to be on the leading-edge of safe, affordable human
space flight with its patented, safe hybrid rocket propulsion systems,” said
Jim Benson, founding chairman and chief executive of SpaceDev. “With the
recent success of the SpaceDev-built CHIPSat high performance microsatellite,
growing demand for responsive microsats and space control by the military, and
the successful testing of our larger hybrid rocket motor under the
SpaceShipOne program, SpaceDev is closer to accomplishing the comprehensive
private space program and family of products we have been developing since our
founding.”

Over the last three years SpaceDev has worked to design a practical,
expendable small launch vehicle named SpaceDev Streaker. SpaceDev Streaker
will be capable of putting 1,000 pound payloads — CAVs and one or more
microsatellites — into low earth orbit at a price expected to be less than
existing or planned small launch vehicles.

The SpaceDev Streaker will use patented High Performance Mass Fraction(TM)
hybrid common core boosters that will equal the performance of solid rocket
motors and some liquid rocket motors while remaining safe, responsive and
affordable. The rocket motors burn HTPB (tire rubber) and Laughing Gas
(nitrous oxide), and will be augmented by existing technologies to produce
performance significantly above traditional hybrid motors. Those boosters
will form the base of a family of SpaceDev propulsion products, including
sounding rockets, strap-on boosters, targets, payload accelerators, and for
other commercial and military applications.

As part of this SpaceDev propulsion program, SpaceDev is designing and
building a previously announced highly innovative and unique Shuttle- and EELV
secondary compatible orbital transfer “space tug” under a contract with the
Air Force Research Lab (AFRL). The SpaceDev MTV(TM) (orbital Maneuvering and
orbital Transfer Vehicle) and the space tug both use hybrid rocket motors
fueled by Plexiglas(TM) (PMMA) and Laughing Gas (nitrous oxide). A SpaceDev
MTV can accelerate from zero to over 3,000 MPH in under four minutes. The
SpaceDev space tug for AFRL will be capable of raising or lowering a small
payload by hundreds of miles, while SpaceDev MTVs will be capable of raising
and lowering payloads by thousands of miles.

“We expect the market for hybrid-based products to grow because of their
low-cost and increased customer interest in safety, responsiveness and
affordability,” said Richard Slansky, chief financial officer for SpaceDev.
“There are numerous emerging applications for this technology.”

SpaceDev’s high performance hybrid rocket propulsion, and its orbital
maneuvering and orbital transfer technology, is of growing importance for
space situational awareness, satellite inspection, counter measures, satellite
rescue, refueling, small launch vehicle boosters and upper stages, and other
applications, both commercial and military.

About SpaceDev

SpaceDev creates and sells affordable and
innovative space products and solutions to government and commercial
enterprises. SpaceDev products and solutions include the design, manufacture,
marketing and operation of sophisticated micro and nano satellites, hybrid
rocket-based orbital Maneuvering and orbital Transfer Vehicles (MTVs) as well
as safe sub-orbital and orbital hybrid rocket-based propulsion systems.
SpaceDev has been awarded contracts from Air Force Research Laboratory (AFRL),
Boeing, California Space Authority (CSA), Jet Propulsion Laboratory (JPL),
Lockheed Martin, National Reconnaissance Office (NRO), University of
California at Berkeley (UCB) via NASA and several commercial customers.
SpaceDev is also developing commercial hybrid rocket motors and small high
performance space vehicles and subsystems. For more information, visit
www.spacedev.com .

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