/C O R R E C T I O N -- Applied Aerospace & Defense/

In the news release, Applied Aerospace & Defense Invests in Deorbit Systems with Acquisition of Vestigo Aerospace and its Spinnaker® Product Line, issued 24-Feb-2026 by Applied Aerospace & Defense over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

Applied Aerospace & Defense Invests in Deorbit Systems with Acquisition of Vestigo Aerospace and its Spinnaker® Product Line

HUNTSVILLE, Ala., Feb. 24, 2026 /PRNewswire/ -- Applied Aerospace & Defense (Applied) announced its acquisition of Vestigo Aerospace known for its innovative product line of Spinnaker® deorbit systems. Spinnaker® drag sails are designed to deorbit satellites and launch vehicle components operating in low Earth orbit. They enable space system operators to comply with new licensing and regulatory requirements intended to mitigate the growing problem of orbital debris. Prior to the acquisition, Vestigo trusted Applied as a critical supplier of advanced materials for thin-film polymer sails and the deployable booms used in its products.   

The Spinnaker® product line offers drag sail configurations that are sized to deorbit a broad range of satellites and spacecraft components up to 1,000 kilograms in mass. Spinnaker® can reliably and cost effectively deorbit objects in five years or less from altitudes up to 800 kilometers and in 25 years or less up to 1,000 kilometers. Spinnaker® offers lower mass and cost than traditional propulsion-based deorbit techniques. By saving station keeping fuel, Spinnaker® enables satellites to extend their mission life. As easily integrated hardware, Spinnaker® enables satellites without propulsion systems to operate at altitudes above 500 kilometers, where a proactive deorbit solution is required.

Vestigo Aerospace founder and CEO Dr. David Spencer joins Applied Aerospace & Defense as the company's new vice president of deployable systems. Prior to Vestigo, Dr. Spencer served as a planetary mission designer, system engineer, and mission operations manager at NASA's Jet Propulsion Laboratory (JPL). He also previously served as an associate professor of aeronautics and astronautics at Purdue University.

"We are proud to join the Applied team and look forward to accelerating the evolution of Spinnaker® as a proactive and scalable solution for deorbit compliance," said Dr. Spencer.

In 2022, the Federal Communications Commission (FCC) adopted the "5-Year Rule" for new orbital licenses. The rule requires all satellites to be deorbited within five years of the termination of active operations. Similarly, in 2023, the Federal Aviation Administration (FAA) proposed new regulations that would require components of upper stage launch vehicles to be deorbited within 25 years of mission end. The Spinnaker® deorbit products provide a cost-effective solution for a broad range of space systems operating in low Earth orbit.    

About Applied Aerospace & Defense

Applied Aerospace & Defense (Applied) is a premier provider of advanced design, engineering, and vertically integrated manufacturing solutions for leading and next-generation space and defense technology companies.  Applied builds complex hardware for extreme operating environments and is focused on three core markets: Space and Launch Systems, Defense Aviation and Airborne Systems, and C5ISR and Precision Strike Systems.  Across its nationwide infrastructure of advanced manufacturing facilities, Applied continuously supports a balanced mix of next-generation technology development and rapid prototyping, large scale production programs, and aftermarket sustainment for enduring platforms.  More information is available at www.applied-aerospace.com

Contact:
David Myers, SVP Marketing & Strategy
[email protected]

Correction: An earlier version of this release incorrectly listed Vertigo Aerospace instead of Vestigo Aerospace in the first sentence.

SOURCE Applied Aerospace & Defense