Moon Express Enters $30 Million Google Lunar X PRIZE Competition

Contacts:
Daven Maharaj 650-646-5356
Moon Express, Inc.
media@moonexpress.com

Valeria Arias 310-741-4883
X PRIZE Foundation
Valerie.arias@xprize.org

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 competition to challenge and inspire engineers and entrepreneurs from around the world to develop low-cost methods of robotic space exploration. To win the Google Lunar X PRIZE, a privately-funded team must successfully place a robot on the Moon’s surface that explores at least 500 meters (1/3 of a mile) and transmits high definition video and images back to Earth. The first team to do so will claim a $20 million Grand Prize, while the second team will earn a $5 million Prize. Teams are also eligible to win a $1 million award for stimulating diversity in the field of space exploration and as much as $4 million in bonus prizes for accomplishing additional technical tasks such as moving ten times as far, surviving the frigid lunar night, or visiting the site of a previous lunar mission. To date, more than 20 teams from a dozen countries around the world have registered to compete for the prize. The Google Lunar X PRIZE is available to be claimed until the end of the year 2015. For more information about the Google Lunar X PRIZE, visit www.googlelunarxprize.org.

ABOUT THE X PRIZE FOUNDATION

Founded in 1995, the X PRIZE Foundation is the leading nonprofit organization solving the world’s greatest challenges through creating and managing large-scale, high-profile, incentivized prize competitions that stimulate investment in research and development worth far more than the prize itself. The organization motivates and inspires brilliant innovators from all disciplines and socio-economic sectors to endow their intellectual and financial capital for the benefit of humanity. The X PRIZE Foundation conducts competitions in four Prize Groups: Education & Global Development; Energy & Environment; Life Sciences; and Exploration. Past prizes include the $10 million Ansari X PRIZE for sending the world’s first private vehicle into space and back; and the $10 million Progressive Insurance Automotive X PRIZE for creating safe, affordable, production-capable vehicles that exceed 100 MPG or energy equivalent (MPGe). Active prizes include the $30 million Google Lunar X PRIZE, the $10 million Archon Genomics X PRIZE, and the $1.4 million Wendy Schmidt Oil Cleanup X CHALLENGE. For more information, visit http://www.xprize.org.

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