Starsys, Inc. to Move to New Facility at Colorado Tech Center
SpaceDev, Inc. (OTC BB:SPDV.OB) announced today that it has signed a lease on a new 72,000 square foot development and manufacturing facility located in the Colorado Technology Center in Louisville, Colorado, for its subsidiary, Starsys, Inc. Starsys will be relocating from its facility in Boulder, Colorado in March 2007, as its current lease expires. The new facility will be leased from RE Hill Properties, LLC and Quartz Mountain Properties, LLC.
The new facility in Louisville will incorporate features specifically designed to support Starsys spacecraft subsystem product offerings and more. Unique features of the building include a modern manufacturing flow, expanded environmental test capability, and approximately 300 linear feet of unobstructed manufacturing and test space for large space structures. The lease includes an option for an additional 19,000 square feet, which could bring the total available Starsys space to approximately 92,000 square feet.
“This is an important and exciting move for our Company. Our lease of this state-of-the-art facility demonstrates SpaceDev’s commitment to Starsys and to our Colorado space business,” said Mark N. Sirangelo, SpaceDev’s Chairman and Chief Executive Officer. “As our capabilities and product offerings expand, so does our need for a new facility. We believe the new facility will enhance our presence in the local community and, coupled with our projected growth, will enable us to attract and employ the very best talent from across the country.”
About SpaceDev
SpaceDev, Inc. is a space technology/aerospace company that creates and sells affordable and innovative space products and mission solutions. For more information, visit www.spacedev.com and www.starsys.com.
Except for factual statements made herein, this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. 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, and are not guarantees of performance. The Company’s actual results could differ materially from its current expectations. Factors that could contribute to such differences include risks and uncertainties associated with: the Company’s ability to effectively integrate acquisitions; rescheduling or cancellation of customer orders; uncertainties in the government budgeting process; ability to control costs and expenses; and, the possible need for additional financing. Reference is also made to other factors described in the Company’s periodic reports filed with the SEC, including 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. SpaceDev does not intend to update these forward-looking statements.
