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News Release For Immediate Release
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Promote Commercial Use of Human Space Flight Resources Vienna, VA, June 25, 1997 — SPACEHAB, Inc. (NASDAQ: SPAB) announced today the signing of an agreement with the Rocket Space Corporation (RSC) Energia of Korolev, Russia to develop commercial use of human space flight resources. Under this alliance, the two companies will pursue coordinated initiatives to take advantage of the emerging commercial market for the use of space in “for-profit” science and production enterprises. This alliance extends the two companies' leadership in the world market for the commercial use of space. As the first company to commercially develop, own and operate habitable modules that provide space-based laboratory research facilities and logistics resupply services aboard the U.S. Space Shuttle System, SPACEHAB has a significant role in supporting human space flight. Similarly, as the commercial operator of the Mir Space Station, RSC Energia is the company capable of providing commercial access to an on-orbit laboratory. Together, SPACEHAB and Energia are uniquely positioned to lead the commercial space industry. This joint Russian-American commercial space initiative will be implemented in three phases. In Phase One, existing SPACEHAB and Russian commercial equipment will be installed and operated on Russian space station assets. The resulting services will be available beginning in 1998. In parallel, the two companies will invest in new capabilities to respond to priority commercial opportunities in emerging markets. These services will be available beginning in 1999. These two initial Phases will support the Phase Three strategic objective to develop and operate fully commercial human space flight facilities in the twenty-first century. . |