Posted: Thursday, January 13, 2011
U.S. Space LLC, a U.S.-based creator of dedicated space solutions for government and commercial clients, and ATK [NYSE: ATK], an aerospace, defense, and commercial products company, today announced the creation of ViviSat, a new satellite life extension venture. ViviSat provides geosynchronous satellite operators with flexible, scalable, capital-efficient, and low-risk in-orbit mission extension and protection services that can add several years to the revenue-producing life of a satellite.
ViviSat's Mission Extension Vehicle (MEV) is designed to dock with the orbiting satellite, securely latch on to it, and serve as a back-up propulsion system. This enables a mission extension for satellites which have run out of maneuvering fuel yet still have plenty of electrical power to operate their payloads. ViviSat services include rendezvous and docking without interruption of satellite operation, long-term station-keeping and attitude control, relocation to different orbits or orbital slots, de-orbiting, and rescue and re-orbiting of satellites stranded in incorrect orbital slots. Edward D. Horowitz, Chairman of ViviSat and Co-founder of U.S. Space, said, "ViviSat is a new company dedicated to providing satellite operators, the U.S. Government and its coalition government partners with in-orbit mission extension and protection services. ViviSat's service model delivers a game-changing advance in financial efficiency, operating flexibility and risk mitigation. ViviSat provides satellite operators around the world solutions designed to improve performance, return and cash flow from existing space assets and activate new markets and new opportunities." Ed Horowitz's bio
Tom Wilson, Board Member of ViviSat and Vice President and General Manager of ATK Spacecraft Systems and Services, said, "In-orbit mission extension and operations protection are a brand new market and ViviSat will enable operators to extend satellite mission duration, drive asset value, and protect their franchises in ways no other provider can offer. ATK is an industry leader in space systems technology, subsystems, and components for satellites of all classes. We have a proven record of performance with a legacy of on-orbit success developed from numerous prior missions -Earth Observing-1, THEMIS, and TacSat-3. The ViviSat venture matches our overall objective to deliver innovative solutions based on customer needs." Tom Wilson's bio
Horowitz and Wilson outlined the roles of the two companies in the ViviSat venture. U.S. Space is the operating entity, with responsibility for mission management, marketing, legal, and finance. ATK is the mission prime contractor, with responsibility for manufacture and delivery of the spacecraft, launch and ground segments. Horowitz and Wilson also announced the ViviSat senior team:
* Major General, USAF (Ret.) Craig P. Weston is Chief Executive Officer of ViviSat. Craig Weston's bio
* Bryan McGuirk is Chief Operating Officer of ViviSat. Bryan McGuirk's bio
* Mark Piegza is Chief Financial Officer of ViviSat. Mark Piegza's bio
* Dr. Dany Harel is Chief Technical Officer of ViviSat. Dany Harel's bio
Weston said, "ViviSat has the space dream team - a deeply experienced and accomplished management backed by creative and customer-oriented investors. We look forward to growing this new mission area for the benefit of commercial and government operators."
Further information about ViviSat can be found at the company's website, http://www.vivisat.com Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK and U.S. Space believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, they can give no assurance that their expectations will be achieved. Forward-looking information is subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected. Among these factors are: technical challenges associated with the development and performance of advanced space technologies and services, and assumptions regarding the development of commercial and governmental markets for in-orbit mission extension and operations protection. Neither ATK nor U.S. Space undertakes obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
ABOUT U.S. SPACE
U.S. Space LLC is a U.S.-owned provider of dedicated, commercial space solutions. The company was established in January 2009 as a U.S.-owned provider of satellite solutions with a unique model combining the best commercial and government practices. The company, which is run by a small group of highly respected former military and corporate leaders, now offers a variety of dedicated space solutions to serve the nation's interests. More information on the company is available at www.usspacellc.com.
ATK is an aerospace, defense, and commercial products company with operations in 24 states, Puerto Rico, and internationally, with revenues of approximately $4.8 billion. News and information can be found on the Internet at www.atk.com.
U.S. Space LLC
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