spacetoday.net: SpaceDev wins contract for military microsats

Posted: Sat, Apr 3, 2004, 12:56 PM ET (1756 GMT)
SpaceDev announced Thursday that it has won a contract from the Missile Defense Agency to develop experimental microsatellites. The four-phase five-year contract, valued at $43 million, covers a microsat distributed sensing experiment and an option for a laser communications experiment, as well as other studies and experiments required by the MDA's Advanced Systems Deputate. SpaceDev CEO Jim Benson told the San Diego Union-Tribune that he expected the MDA to order between three and six satellites under the contract. SpaceDev has to date built and flown a single satellite, CHIPSat, a small astronomy mission launched into low Earth orbit in early 2003. News of the contract sent SpaceDev shares up 70 percent in over-the-counter trading, although the stock yielded about half of those gains on Friday.