SpaceDev - History

History

SpaceDev was founded in 1997 by Jim Benson, who acquired Integrated Space Systems of Southern California and merged it with a defunct publicly traded corporate shell to create the publicly traded SpaceDev. For a while, SpaceDev also owned UK-based Space Innovations Limited. In August 1998 SpaceDev acquired all patents, intellectual property, test results, and documents that had been produced by the out of business American Rocket Company (AMROC).

On August 6, 1998 the United States Securities and Exchange Commission filed an administrative proceeding alleging securities fraud against Spacedev Inc. According to the SEC, Spacedev promotes itself extensively on the Internet. The SEC alleged that the company made false and misleading statements over the Internet and via other media in violation of U.S. securities laws in an attempt to increase its stock value. The SEC was seeking cease and desist orders against Spacedev and its chairman, James W. Benson. A settlement was reached between the SEC, Spacedev and James W. Benson. The settlement states that the SEC was founded in its allegations and SpaceDev cease and desist from committing or causing violations or future violations of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; and Mr. Benson cease and desist from committing or causing violations or future violations of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.

The company's first big project was to be the Near Earth Asteroid Prospector, or NEAP, a small innovative commercial spacecraft mission that would have rendezvoused with and landed on a Near Earth Asteroid (NEO), conducted scientific experiments, and claimed the asteroid as private property. As it turned out however, the company's first success would come a little closer to home, in the form of CHIPSat, the Cosmic Hot Interstellar Plasma Spectrometer microsatellite. SpaceDev built and conducted early orbit operations of the Low Earth Orbit (LEO) microsat, the first to use only the Internet for its communications, for University of California at Berkeley under NASA's University Explorer Program (UNEX). This was followed one year later by supplying the rocket motors that propelled SpaceShipOne into the history books by creating the world's first civilian astronauts and helping Paul Allen win the $10 million Ansari X Prize.

On October 26, 2005 SpaceDev announced that Starsys Research Corporation of Boulder, Colorado would merge with SpaceDev, which would provide SpaceDev with additional expertise and experience with microsatellite technologies. The acquisition of Starsys on January 31, 2006 put the number of SpaceDev employees over 200, located in three states. The Starsys division is being groomed to become a center of space robotics for SpaceDev. Over 18 years Starsys developed and delivered 2,000 space mechanisms that have flown on over 200 missions, all successfully. SpaceDev has most or all of the moving parts on Mars at this time, had mechanisms on Deep Impact, is supplying the separation system and docking mechanism for the soon to be launched Orbital Express, and has mechanisms on the way to Pluto.

On September 28, 2006, SpaceDev announced that founder and CEO Jim Benson was stepping down to start a new space tourism venture, Benson Space Company (BSC). BSC expects to be one of SpaceDev's largest customers, purchasing multiple Dream Chaser spaceships and safe hybrid rocket motors for use in personal spaceflight. Benson died on 10 October 2008, of a brain tumor.