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Sierra Nevada Space Systems Awarded Additional NASA Funding for Development of the Dream Chaser Space System

Sparks, NV – September 27th, 2011 –National Aeronautics and Space Administration (NASA) Administrator Charlie Bolden announced September 22 during his speech to the Air Force Association’s 2011 Air and Space Conference that NASA will fund optional milestones pre-negotiated as part of its Commercial Crew Development Program Round 2 (CCDev2) Space Act Agreement (SAA) with Sierra Nevada Corporation’s (SNC) Space Systems.

NASA amended Sierra Nevada Corporation’s SAA to include four additional optional milestones for a total of $25.6 million, bringing the value of Sierra Nevada’s CCev2 SAA to $105.6 million, when all milestones are completed successfully.

Phil McAlister, director of NASA’s Commercial Spaceflight Development, said, "These additional milestones were selected because they sufficiently accelerated the development of commercial crew transportation systems to justify additional NASA investment."

"SNC’s Space Systems is honored to be awarded an additional $25.6 million by NASA as part of the second round of the Commercial Crew Development Program.  The additional four funded milestones will allow the further development of the Dream Chaser® Space System and is a reflection of the progress and success of the program to date.  The now 13 CCDev2 milestones will include the completion of a Preliminary Design Review (PDR) and culminate in a high-altitude free-flight test of the  Dream Chaser®  in the summer of 2012, " said Mark Sirangelo, head of SNC’s Space Systems. “The Dream Chaser® Program successfully executed all of its CCDev1 milestones on time and on budget.  As part of CCDev2, SNC has already completed four of the initial nine milestones, all of which have been on time and on budget.  We are proud to be a part of NASA’s Commercial Crew Development Program as it continues to be a powerful driving force in making American commercial human spaceflight a reality.”

The Dream Chaser Space System is designed to offer a low-cost, safe alternative to commercial crew and cargo transportation to and from low Earth orbit, including the International Space Station. The Dream Chaser vehicle is a reusable, lifting-body spacecraft that launches vertically and lands horizontally on a conventional runway. The system, capable of carrying seven crew and critical cargo will enter operational service by 2015.

About Sierra Nevada Corporation
Sierra Nevada Corporation (SNC) is one of America’s fastest growing private companies based on its significant expansion and reputation for rapid, innovative, and agile technology solutions in electronics, aerospace, avionics, space, propulsion, micro-satellite, aircraft, communications systems and solar energy. Under the leadership of CEO Fatih Ozmen and President and CFO Eren Ozmen, SNC employs over 2100 people in 31 locations in 16 states.  SNC’s seven unique business areas are dedicated to providing leading-edge solutions to SNC’s dynamic customer base.

SNC is also the Top Woman-Owned Federal Contractor in the United States. Over the last 30 years under the Ozmen’s leadership, SNC has remained focused on providing its customers the very best in diversified technologies to meet their needs and has a strong and proven track record of success. The company continues to focus its growth on the commercial sector through internal advancements and outside acquisitions, including the emerging markets of renewable energy, telemedicine, nanotechnology, cyber and net-centric operations. For more information on SNC visit www.sncorp.com.

MEDIA CONTACT: generalinfo@sncorp.com or 775-331-0222

About Sierra Nevada Corporation’s Space Systems
Sierra Nevada Corporation’s Space Systems business area headquartered in Louisville, Colorado, designs and manufactures advanced spacecraft, space vehicles, and spacecraft subsystems for commercial and government customers.  Space Systems (SS) has more than 20 years heritage in space, successfully delivering over 400 subsystems for 300+ satellite missions. Current key programs include NASA’s Commercial Crew Development program where we are developing our Dream Chaser® 7 passenger vehicle to take astronauts to the International Space Station; the ORBCOMM Generation 2 program that includes production of 18-48 small satellites for a commercial asset tracking company; the SpaceShip2 program where we are developing a non-toxic “green” rocket engine for Virgin Galactic’s suborbital space vehicle to carry tourists to space; and the Modular Space Vehicle program for the DoD’s Operationally Responsive Space Office.  For more information about SS visit www.sncspace.com.

MEDIA CONTACT: media.ssg@sncorp.com or 720-407-3192