Two Hour Wargames (along with 5150: Fringe Space and 5150: Fighter Command), and I've had a hand in writing the rules. As you might guess from the title, this game is set in the same universe as 5150: Star Army and 5150: New Beginnings. Star Navy will feature ships and fleets from some of the same factions found in SA and NB.
The publisher, Ed the Two Hour Wargames Guy, recently said on the THW mailing list that we can expect the game to go on sale sometime this month. Reading over the Star Navy manuscript again recently, I'm very happy with how the game plays. And it has a campaign system in the style of Ed's other rules, so it's not just for set-em-up-and-knock-em-down-type battles. I hope to get in a game or two this weekend. I'll let you know how it goes. Until then, stay on target!