Houston, TX (March 24, 2009) - 

Astrotech Corporation (Nasdaq: SPAB), a leading provider of commercial space services, today announced its partnership with the aerospace economic development entity, Space Florida. The joint venture will provide key elements to Astrotech’s end-to-end mission assurance solution, streamlining the process for commercial space customers to acquire support across a spacecraft’s lifecycle.

 

Together, both organizations will provide a singular approach to global satellite market needs. Astrotech’s and Space Florida’s unique series of innovative solutions include:

 

• End-to-End Mission Assurance Services including mission planning, spacecraft design and development, ground and launch operations, mission operations, and end-user enhancement.

• Customer assistance with efficiently and cost-effectively navigating the U.S. Air Force Eastern Range.

• Additionally, Space Florida is advocating for passage of new legislation to create a CommercialLaunch Zone (CLZ) during the 2009 Florida Legislative Session. If enacted, the legislation isstructured to provide relief to some of the costs of establishing new aerospace-related business inFlorida, including Free Trade Zone-type benefits, which lower the tax burden for a defined period oftime.

 

“Joining forces with Space Florida is a natural fit,” explains General (ret) Lance W. Lord, Astrotech chief executive officer. “This partnership combines our end-to-end mission assurance solutions with Space Florida’s commercial launch and ground operations capabilities – building a formidable force within the commercial satellite market.”

 

“This innovative approach to the commercial space business model will give Florida a much greater advantage domestically and internationally,” said Steve Kohler, Space Florida President. “With the growth of satellite-based services and interest from the scientific community in utilizing the benefits of microgravity and the ISS, we see continued opportunity for our state through the commercial sector for many years to come.”

 

Leveraging a quarter-century heritage in the design and development of man-rated pressurized modules and unpressurized cargo carriers through its former parent company SPACEHAB, Astrotech Corporation has successfully supported 23 NASA Space Shuttle missions, and more than 260 spacecraft launches to date.

 

About Astrotech Corporation

 

Astrotech is a commercial 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 spacecraft prelaunch processing facilities and services, production of valuable commercial products in space, development and extension of space-based products to the consumer market, space access and payload integration services program and engineering support ranging from development and manufacturing of flight hardware to large scale government project management.

 

About Space Florida

Space Florida was created to strengthen Florida’s position as the global leader in aerospace research, investment, exploration and commerce. As Florida’s aerospace development organization, we are committed to attracting and expanding the next generation of space industry businesses. With its highly trained workforce, proven infrastructure and unparalleled record of achievement, Florida is the ideal location for aerospace businesses to thrive – and Space Florida is the perfect partner to help them succeed.www.spaceflorida.gov.

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.

 

For more information, contact:

 

Tania Shupe
Corporate Marketing and Communications
SPACEHAB, Inc.
713.558.5299
tshupe@spacehab.com

 

Tina Lange
Director, Marketing Communications
Space Florida
407.474.2654
tlange@spaceflorida.gov