On September 28, 2006, Jim Benson, SpaceDev founder, announced he was founding Benson Space Company with the intention of being first to market with the safest and lowest cost suborbital personal spaceflight launches, using the vertical takeoff and horizontal landing Dream Chaser vehicle based on the NASA HL-20 Personnel Launch System vehicle.

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.

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 ).

On May 5, 2006, SpaceDev announced it was selected as a finalist in NASA's $ 500 million Commercial Orbital Transportation Services ( COTS ) demonstration program.

However, on August 18, 2006 it was revealed that SpaceDev did not win the contract.

TrailBlazer was researched, designed, assembled, tested and packed for shipping almost entirely at the Poway SpaceDev location.

James William Benson ( c. 1945 – October 10, 2008 ), also known as Jim Benson, was the founder of SpaceDev, a commercial satellite and satellite component development company, and Benson Space Company, a civilian spaceflight venture focused on commercial space tourism.

In the event, SpaceDev was not selected for award under COTS, but did sign a non-reimburseable Space Act Agreement to facilitate additional exchange of non-cash project milestones with NASA.

A settlement was later agreed upon that 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.

Afterwards, Benson stepped down as Chairman of SpaceDev and founded the Benson Space Company to pursue the Dream Chaser project.

Benson started the trend of successful high tech entrepreneurs moving into the space development arena, by incorporating SpaceDev, Inc. as a publicly owned space exploration and development company in 1997.

The Dream Chaser is a planned manned suborbital and orbital spacecraft being developed by SpaceDev, a wholly owned subsidiary of Sierra Nevada Corporation.

Together with N < sub > 2 </ sub > O ( nitrous oxide, or " laughing gas ") as the oxidizer, it is used to power the SpaceShipOne hybrid rocket motor developed by SpaceDev.

Tier One uses a hybrid rocket motor supplied by SpaceDev, with solid hydroxyl-terminated polybutadiene ( HTPB, or rubber ) fuel and liquid nitrous oxide oxidiser.

The remaining components — the ignition system, main control valve, injector, tank bulkheads, electronic controls, and solid fuel casting — are supplied by SpaceDev.

Previously a publicly traded company ( OTCBB: SPDV ), on 20 October 2008 SpaceDev officials announced that the company would be acquired by Sierra Nevada Corporation, a privately-owned company.

On December 16, 2008 SpaceDev announced its acquisition by Sierra Nevada Corporation had been completed.

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 February 1, 2010, NASA announced a $ 20 million award to Sierra Nevada, to go toward development of the SpaceDev Dream Chaser, which could be ready for launch by 2014 on United Launch Alliance's Atlas V rocket, according Mark Sirangelo, corporate vice president for Sierra Nevada's space systems division.

SpaceDev manufactured the Trailblazer satellite selected by the Operationally Responsive Space Office for its Jumpstart mission.

SpaceDev's mission is to help " make space happen " for all of humanity, through the development of a comprehensive private space program, by delivering affordable and practical space technologies, products and solutions to SpaceDev's government and commercial customers, while creating value for SpaceDev stockholders.

On December 18, 2006, SpaceDev announced that it has been awarded a $ 330, 000 Phase I study contract from Benson Space Company to further the SpaceDev Dream Chaser spaceship program.

Benson and SpaceDev worked to develop the world's first private sector enterprise to profitably explore and develop space beyond earth orbit.

In 1998, SpaceDev and its chairman James Benson were named in an administrative proceeding alleging securities fraud.

The SEC alleged that SpaceDev and chairman Benson made false and misleading statements through various media in an attempt to increase its stock value.

During his 10 years with the company, Benson served as founder, chairman, chief executive officer and chief technology officer of SpaceDev.

" I am dedicated to opening space for all of humanity and, with SpaceDev well-managed and growing, I plan to spend the next several years creating the possibility that anyone who wants to go to space will be able to, safely and affordably ," said Benson in September, 2006.

Benson Space had completed its first round of financing and submitted a request for proposal to SpaceDev for the design and development of its SpaceDev Dream Chaser spaceships.

SpaceDev announced on October 10, 2008, that James Benson had died earlier that day.

SpaceDev acquired the former Integrated Space Systems, a space systems engineering firm, in 1998.

SpaceDev acquired the intellectual property of American Rocket Company in 1999 after AMROC's 1996 bankruptcy.

In November 2007 Voss left t / Space to become the Vice President of Engineering at SpaceDev.

SpaceDev, a part of the " Space Systems Business " of Sierra Nevada Corporation, is prominent for its spaceflight and microsatellite work.

For a while, SpaceDev also owned UK-based Space Innovations Limited.

On November 16, 2005 SpaceDev announced its Dream Chaser concept for a four passenger sub-orbital and a six passenger orbital vehicle, both based on NASA's HL-20 " Personnel Launch System " or " Space Taxi ".

SpaceDev is based near San Diego in Poway, California.

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 ).

SpaceDev started developing the science mission CHIPSat for the University of California, Berkeley in 1999.

* Starsys Company-Merging with SpaceDev

It is also developing micro-and nano-satellites, a small expendable launch vehicle, the SpaceDev Streaker, and has designed a piloted suborbital and orbital spaceship of its own, the SpaceDev Dream Chaser, in collaboration with NASA.

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.

SpaceDev has been working with NASA Ames to design a modern version of the NASA HL-20 Personnel Launch System, called the SpaceDev Dream Chaser.

On April 10, 2007, SpaceDev announced that it had finalized a Memorandum of Understanding with United Launch Alliance on exploring the potential of launching the SpaceDev Dream Chaser spaceship using an Atlas V 431, ( having a four meter diameter fairing, three solid rocket boosters, and a single Centaur engine in the second stage ).