XCOR Aerospace Wins $7 Million NASA Contract
Mojave, CA, Monday, April 11, 2005: Today, XCOR Aerospace announced it has signed a contract with the National Aeronautics and Space Administration (NASA) to develop a composite cryogenic tank to hold liquid oxygen (LOX). This contract is part of NASA's Exploration Systems Research and Technology (ESR&T) program to develop key technologies for manned exploration of the Moon, Mars and beyond. The value of this firm fixed-price contract is $7 million with all options included, and will pay $1 million in the first year.
"This is a wonderful opportunity for NASA and for XCOR," said XCOR's president, Jeff Greason. "NASA is reaching out to small businesses and this contract is an excellent example. Both private industry and the government will benefit from this project, as well as future users of space vehicles."
During the past two years, XCOR has researched cryogenic composite materials and processes that will have immediate application to this contract. XCOR will use its patented technology to build a demonstration LOX tank for NASA. The LOX tank will be designed to show dramatic weight savings by demonstrating the ability to serve as both an insulated tank and vehicle structure. The materials used in this tank retain their flexibility and toughness at cryogenic temperatures and are inherently non-flammable, an important safety feature for LOX tanks on future human spaceflight vehicles.
XCOR Aerospace is a California corporation located in Mojave, California. The company is in the business of developing and producing safe, reliable and reusable rocket-powered vehicles and propulsion systems that enable affordable access to space.
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