Joint Venture to Provide End-To-End Mission Assurance Solution to the Global Satellite Market
Houston, Texas (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 Commercial
Launch Zone (CLZ) during the 2009 Florida Legislative Session. If enacted, the legislation is
structured to provide relief to some of the costs of establishing new aerospace-related business in
Florida, including Free Trade Zone-type benefits, which lower the tax burden for a defined period of
time.
“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 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.
