SPACEHAB SUBSIDIARY WINS NASA ORBITING CARBON OBSERVATORY CONTRACT
Houston, TX (January 17, 2008) -
SPACEHAB, Incorporated (NASDAQ: SPAB), a provider of commercial space services, today announced that its Astrotech Space Operations subsidiary has won an additional fully funded task order under the recently awarded Vandenberg Air Force Base (VAFB) indefinite delivery, indefinite quantity (IDIQ) contract. The Company will provide facilities and payload processing services, from its VAFB location, in support of NASA’s Orbiting Carbon Observatory (OCO) mission, scheduled for launch in December 2008.
Led by the Jet Propulsion Laboratory, the OCO mission is the third mission competed and won by Astrotech, under a $35 million IDIQ contract awarded in June 2007, to provide facilities and payload processing support on several NASA spacecraft missions.
The OCO is a new Earth orbiting mission sponsored by NASA's Earth System Science Pathfinder (ESSP) Program. The ESSP Program addresses unique, specific, highly-focused requirements in Earth science research. After launch in 2008, the OCO mission will collect space-based measurements of atmospheric carbon dioxide (CO2) with the precision, resolution, and coverage necessary to improve understanding of the natural processes and human activities that regulate the abundance and distribution of this greenhouse gas. This improved understanding will enable more reliable forecasts of future changes in the abundance and distribution of CO2.
From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in California, Astrotech provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, transport, and remote control through launch.
About SPACEHAB, Incorporated
SPACEHAB is a commercial leader and entrepreneurial force in the space industry providing a full spectrum of products and services to both the government and private sectors. The Company offers space access and payload integration services, production of valuable commercial products in space, spacecraft pre-launch processing facilities and services, development and extension of space-based products to the consumer market, and program and engineering support ranging from development and manufacturing of flight hardware to large scale government project management.
The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company's Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
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