ATLANTA, September 1, 2015 (SpaceWorks PR) — SpaceWorks Enterprises, Inc. announced today that it has completed acquisition of Terminal Velocity Aerospace, LLC. Terminal Velocity Aerospace (TVA) is an Atlanta-based aerospace design and hardware manufacturing organization focused on orbital reentry devices, heat shields, and thermal protection systems. TVA will become a wholly owned subsidiary of SpaceWorks and a member of the SpaceWorks family of companies.
TVA will retain its product-oriented focus on low cost reentry and payload recovery devices, while benefiting from the established engineering capabilities of SpaceWorks. Dr. John Olds will serve as TVA’s new Chief Executive Officer. Mr. Jordan Shulman will serve as TVA’s new Chief Financial Officer. Mr. Dominic DePasquale will continue to serve as Principal Investigator and Program Manager for the company’s technical activities with NASA and commercial customers.
TVA was originally founded in 2012 as a joint partnership between SpaceWorks and Dr. Bobby Braun and has been actively researching and testing small reentry system technologies. Under SpaceWorks, TVA will emphasize commercialization of its products for a broader range of applications and markets.
“We are pleased to integrate Terminal Velocity more closely into our family of companies,” said Dr. Olds, CEO of SpaceWorks and Terminal Velocity. “I am very bullish about the future for low cost sample return from low Earth orbit. We are at the leading edge of a new market for commercial sample return that will not only enable space-based manufacturing and materials research, but also lead to novel medical and pharmaceutical breakthroughs that could be life saving here on Earth. Our goal will be to continue building TVA’s intellectual property and capabilities to service the commercial marketplace, while maintaining our strong commitment to support NASA and the DoD’s R&D missions for high-speed flight test and satellite breakup analysis. I also expect us to continue to work closely with the Georgia Tech Space Systems Design Laboratory and the Georgia Tech Manufacturing Institute on more fundamental research challenges.”
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