FOR IMMEDIATE RELEASE
CONTACT:
Gary Cadenhead, cadenheadg@earthlink.net, 512-751-5850
John Metzger, john@metzger.com, 303-786-7000 x2202

OMEGA SENSORS WINS LUNAR VENTURES
BUSINESS PLAN COMPETITION

Team Garners $25,000 Prize to Develop Space Commerce Idea

GOLDEN, Colo. - May 21, 2007 - Then there was one. Out of ten national finalist teams, students from San Diego State University with Omega Sensors, Inc. (OSI) were declared winners in the first Lunar Ventures Student Business Plan Competition held here today at the Colorado School of Mines Center for Space Resources.

A national panel of judges, including several hailing from Colorado's diverse aerospace, venture capital and academic communities, reviewed business plans from 47 college students from around the country representing Massachusetts Institute of Technology, Georgia Institute of Technology, University of Colorado at Boulder, San Diego State University, Colorado School of Mines, Emory University, and the College of William and Mary. All are vying to develop the next big ideas for new start-up companies using space technology.

San Diego State University entry OSI offers an improved sensor technology for navigation systems and robotics as well as satellite, rocket and space shuttle navigation. Here on Earth, the technology has immediate applications. In the oil industry, it has the capability to increase oil well output through strategic drilling -- both in locating oil and fewer dry wells. Additionally, the devices have significant potential in structure and equipment monitoring. OSI is comprised of team members Brian Bjorndal, Craig Braun, Brad Chisum, Tom Jones, Nick Rhea and Richard Waters.

"Our strong field of finalists, and OSI in particular, exemplify where space commerce is heading," said Dr. Angel Abbud-Madrid, director of the Center for Space Resources at the Colorado School of Mines. "Each team provides a glimpse of what the coming new era of space business is going to look like, and the very real possibilities for the next wave of development and practical application of existing and emerging technologies."

"Each team's submission offers a unique vision for bringing space resources and technology into today's marketplace," said Dr. Gary Cadenhead, Lunar Ventures director "Many of these ventures, like grand champion OSI, are fundable today."

"Winning the Lunar Ventures Business Plan Competition is a phenomenal way to launch our business," said Brad Chisum, OSI team leader. "While many still see space commerce as expensive and beyond today's investment horizons, the reality is that many are viable here and now. It is no longer science fiction; rather, it is market fact. Getting to this stage has been a long and rewarding road and our San Diego State University faculty advisor, Dr. Alex DeNoble has helped to make our dream a reality."

The three runners up in the 2007 Lunar Ventures competition are:

• Automated Integrated Mission Systems (AIMSense)
  Matthew Abrahamson, David Butts, Christopher Mandy, Robert Panish and Reggie Smith from Massachusetts Institute of Technology. AIMSense's innovative guidance system improves the aerial refueling process by making tanker-to-aircraft docking quicker and more operator-friendly. In-space applications include autonomous spacecraft rendezvous and docking for on-orbit servicing.
  
  
• Kronos
  Darick Baker, Luke Erikson and William Rance from Colorado School of Mines and Erik Spahr from the College of William and Mary. Kronos is a venture to develop technology and techniques for collecting meteorites on the Earth and later on the moon.
  
  
• ViraTag LLC
  Nimisha Gupta, Georgia Institute of Technology and Dev Ghose and James McDonough, Emory University. ViraTag LLC will commercialize in-vitro diagnostic virus detection kits for quick, efficient, cost-effective, and extremely accurate identification of viruses using easily portable equipment and with minimally trained personnel. Applications include monitoring the health of astronauts in space.
  
  

Sponsored by the Center for Space Resources at the Colorado School of Mines, the Lunar Ventures competition considered business plans that employ space technology to introduce new navigation systems, robotic devices, energy generation and management solutions, sensor technology, mining and drilling technology, aircraft and spacecraft refueling systems, a rover to remove hazardous waste, a method of collecting meteorites, and other concepts. All signal a future of expanding business and investment opportunities, opened up by "space" as it evolves from rocket ships and astronauts to a new era - "Space 2.0" - of commercial development.

The Lunar Ventures teams developed their concepts during the 2006 fall semester, and submitted their business plans to a panel of judges with both technical and business expertise. The judges selected 10 finalist teams to compete for $25,000 in cash and additional services to help launch their ventures, including an opportunity for a $100,000 investment.

For more information on Lunar Ventures, please visit www.8clunarventures.com.