Moon Express Enters the $30 Million Google Lunar X PRIZE Competition

Space Ref: Moon Express Enters the $30 Million Google Lunar X PRIZE Competition
San Francisco, CA (October 26, 2010) - Today, Moon Express Inc., a privately funded lunar transportation and data services company, announced its official entry into the Google Lunar X PRIZE, a $30 million competition that challenges space professionals and engineers from across the globe to build and launch to the Moon a privately funded spacecraft capable of completing a series of exploration and transmission tasks. Team MoonEx, headquartered in San Francisco, CA, is among 24 teams from a dozen countries that are competing for their share of the $30 million prize purse.

Moon Express is also among six U.S. companies award a contract by NASA, the US civil space agency, as part of its $30M Innovative Lunar Demonstration Data (ILDD) program. The ILDD contract is for the purchase of technical data resulting from industry efforts to develop vehicle capabilities and demonstrate end-to-end robotic lunar landing missions. The data from these contracts will inform NASA in the development of future human and robotic lander vehicles and exploration systems.

"The Google Lunar X PRIZE and NASA's Innovative Lunar Demonstration Data program are very exciting competitions that represent the knee in the curve of opportunity for the commercial lunar industry," said Moon Express Team Leader, Dr. Robert (Bob) Richards.

"We are very excited to have Moon Express as one of our Google Lunar X PRIZE teams," remarked William Pomerantz, Senior Director for Space Prizes at the X PRIZE Foundation. "With NASA already signed on as a customer, Moon Express enters the competition on great footing, and promises to be an extremely strong competitor."

For more information about team Moon Express, please visit www.moonexpress.com.

About Moon Express

Moon Express, Inc. (MoonEx) is a privately funded lunar transportation and data services company. We have the experienced people, partners and financial resources to blaze a trail to the Moon and establish new avenues for commercial space activities beyond Earth orbit. Moon Express is planning a media conference to announce its recent NASA contract award, as well as other details of the company. Information on this announcement will be made in the next few weeks. If you'd like more information on this event, please send an email to media@moonexpress.com

About the Google Lunar X PRIZE

The $30 million Google Lunar X PRIZE is an unprecedented international competition that challenges and inspires engineers and entrepreneurs from around the world to develop low-cost methods of robotic space exploration. The $30 million prize purse is segmented into a $20 million Grand Prize, a $5 million Second Prize and $5 million in bonus prizes. To win the Grand Prize, a team must successfully soft land a privately funded spacecraft on the Moon, rove on the lunar surface for a minimum of 500 meters, and transmit a specific set of video, images and data back to the Earth. The Grand Prize is $20 million until December 31st 2012; thereafter it will drop to $15 million until December 31st 2014 at which point the competition will be terminated unless extended by Google and the X PRIZE Foundation. For more information about the Google Lunar X PRIZE, please visit www.googlelunarxprize.org.

About the X PRIZE Foundation

The X PRIZE Foundation is an educational nonprofit prize institute whose mission is to create radical breakthroughs for the benefit of humanity. In 2004, the Foundation captured world headlines when Burt Rutan, backed by Microsoft co-founder Paul Allen, built and flew the world's first private vehicle to space to win the $10 million Ansari X PRIZE. The Foundation has since launched the $10 million Archon X PRIZE for Genomics, the $30 million Google Lunar X PRIZE, and the $10 million Progressive Insurance Automotive X PRIZE. The Foundation is creating and conducting competitions in four prize groups: Exploration (Space and Oceans), Life Sciences, Energy & Environment, and Education & Global Development. The Foundation is widely recognized as the leader in fostering innovation through competition. For more information, please visit www.xprize.org.