Orbital Recovery has selected PricewaterhouseCoopers as its financial advisor, with responsibility for leading the company through its final funding round for its new Geosynch Spacecraft Life Extension System (SLES).

In addition, PricewaterhouseCoopers will assist Orbital Recovery in developing its customer base for the SLES, a spacecraft designed to extend the useful lifetime of telecommunications satellites by 10 years or more, and which also is capable of rescuing satellites stranded in incorrect orbits, the company said.

Orbital Recovery (Washington, D.C.) already has raised $1 million, which has funded the definition and validation of the SLES design, as well as ongoing operations in 2003. The company has identified more than 40 satellites in orbit that are candidates for life extension using the SLES.