OHB Technology made strategic investment in US space technology company SpaceDev Inc.
19 % shareholding in form of common stock sale of approximately USD 4.4 million
US listed SpaceDev Inc. offers direct access to US aerospace market
Prime Standard listed OHB Technology Group (ISIN: DE0005936124, Prime Standard) acquired 19% of the US listed SpaceDev Inc, Poway, CA, USA, (NASDAQ, OTCBB: SPDV). OHB Technology AG and its subsidiary MT Aerospace AG made this collective investment into the strategic partner SpaceDev in form of a common stock sale in the amount of approximately USD 4.4 million (EUR 3.3 million). A mutual high level management team actively explore manufacturing optimization, systems development, and future program opportunities in Europe as well as in the USA.
SpaceDev offers OHB Technology direct access to the US aerospace market especially to upcoming new US government development programs and activities. Future US market penetration with OHB components and introducing SpaceDev products in the European aerospace marketplace will lead to significant new revenues, mutual manufacturing opportunities and will offer the collective use of technologies and expertise. SpaceDev will use cash inflow mainly to expand its research and development activities and for expansion capital.
OHB Technology see significant upside potential in the future of SpaceDev. The investment into the new US shareholding will be an excellent long term association. The companies have already begun exploring multiple opportunities to work together, particularly as SpaceDev bids on larger, new and exciting US government and commercial programs. OHB and MT Aerospace also participated on a number of transatlantic space programs, including the International Space Station (ISS) and SOFIA, the next generation airborne observatory.
About SpaceDev Inc.
SpaceDev Inc. (OTCBB:SPDV) is an entrepreneurial space systems company that develops high performance, innovative components and systems that are changing how we get to, explore, and use space. Our products range from spacecraft actuators that power the Mars rovers, to hybrid rocket technologies that powered the first commercial astronaut to space, and from microsatellites controlled by the Internet to Dream Chaser™, a winged and piloted orbital commercial spacecraft. SpaceDev products innovate, enable and perform.
About OHB Technology AG
OHB Technology AG is the first listed technology and space company in Germany (ISIN: DE0005936124; Prime Standard). With a total of more than 1,100 employees, its four business units "Space Systems + Security", "Payloads + Science", "Space Transportation + Aerospace Structures" and "Telematics + Satellite Operations" develop and produce solutions for national and international customers. Thanks to the successful combination of space technology and telematics skills backed by just on 25 years of experience in high-tech engineering, OHB Technology AG holds an excellent position in Europe.
About MT Aerospace AG
MT Aerospace AG, a Group company of OHB Technology AG, is a well-established supplier in the aeronautic, aerospace and defence sector; a partner for antennas, mechatronic systems and related services. In the field of aerospace they develop and produce components and subsystems for launchers, satellites and orbital transfer systems. Today MT Aerospace AG supplies approx. 10% of the hardware for the European launcher ARIANE 5 and is the most important supplier for this program outside France. The related operations and maintenance sector on site in Kourou / French Guyana is responsible for the ARIANE 5 integration and launch facilities.