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NASA Awards Task Order Contract to Astrotech Space Operations-California for OCO-2 Spacecraft Processing

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AUSTIN, Texas, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Astrotech Corporation, (Nasdaq:ASTC), a leading provider of commercial space services, today announced that its Astrotech Space Operations (ASO) subsidiary has been awarded a NASA task order contract to provide payload processing services for the Orbiting Carbon Observatory - 2 (OCO-2) satellite at ASO's Vandenberg Air Force Base, California, facility.

OCO-2 is the first mission awarded by NASA under the current Not-to-Exceed $16 million Indefinite-Delivery/Indefinite-Quantity (IDIQ) task order contract that runs through December, 2017. The Jet Propulsion Lab satellite, scheduled to launch in July, 2014, will be NASA's first dedicated Earth remote sensing satellite to study atmospheric carbon dioxide from space.

"Astrotech is proud to have been selected by NASA for this important mission," stated ASO General Manager Don M. White, Jr. "We are excited to play a role in gathering these critical CO2 measurements."

In January, NASA awarded a Not-to-Exceed $9.1 million Infinite-Delivery/Indefinite-Quantity (IDIQ) task order contract to ASO Florida to provide commercial payload processing services for satellites launched at Cape Canaveral Air Force Station, Florida.

From Titusville, Florida, and Vandenberg AFB, California, Astrotech Space Operations provides all support necessary for Government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 31-year history, Astrotech has supported the successful processing of more than 300 spacecraft.

About Astrotech Corporation and Astrotech Space Operations (ASO)

Astrotech is one of the first space commerce companies and remains a strong entrepreneurial force in the aerospace industry. We are leaders in identifying, developing and marketing space technology for commercial use. Our Astrotech Space Operations (ASO) has been a global satellite processing leader since 1981. With more than 300 successful spacecraft missions to date, Astrotech continues to provide adaptable and flexible services for its government and commercial customers. Astrotech Space Operations provides all support necessary for successful spacecraft processing to prepare for launch on a variety of domestic and foreign launch vehicles. Spacecraft undergo pre-launch hardware integration and testing, satellite encapsulation, and fueling before transport to the pad. Astrotech Space Operations business unit serves our satellite and spacecraft customers with pre-launch services on the Eastern Range (Kennedy Space Center) and Western Range (Vandenberg Air Force Base).

The Astrotech Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7456

This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the Company's Securities and Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.

CONTACT: Astrotech Corporation 512.485.9530 IR@astrotechcorp.com

Source:Astrotech Corporation