Astrotech's 1st Detect Announces TRACER 1000 Begins Testing for Passenger Screening at Airports
Austin, TX - April 4, 2018 -
Astrotech (NASDAQ: ASTC) subsidiary 1st Detect today announced that its new explosives trace detector (ETD), the TRACER 1000, has entered into Developmental Testing and Evaluation (DT&E) at the U.S. Department of Homeland Security (DHS)’s Transportation Security Laboratory (TSL).
Successful completion and passing of DT&E and certification testing leads to TSL Certification – a significant endorsement that foreign governments and other U.S. government agencies consider before procuring ETDs. Certification is also a major step towards being listed on the Transportation Security Administration (TSA)’s Qualified Products List (QPL), and subsequently being deployed in airports throughout the US.
1st Detect and DHS kicked off the certification readiness process when they entered into a Cooperative Research and Development Agreement (CRADA) last September. Over the following months, 1st Detect’s successful demo with TSA led to the submission, evaluation and approval of a data package, and commencement of DT&E.
“We are extremely pleased with the progress we’ve made toward getting the TRACER 1000 into airports worldwide. We are confident that our system will perform to TSA’s requirements and achieve qualification,” said Thomas B. Pickens III, CEO of 1st Detect and Astrotech.
Astrotech is an innovative science and technology company that invents, acquires, and commercializes technological innovations sourced from research institutions, laboratories, and internally–and then funds, manages and builds scalable start-up companies for profitable divestiture to market leaders to maximize shareholder value. 1st Detect develops and sells chemical analyzers for use in the security, defense, healthcare and environmental markets. Sourced from decades of image research from the laboratories of IBM and Kodak, Astral Images sells film-to-digital image enhancement, defect removal and color correction software, and post processing services providing economically feasible conversion of television and feature 35mm and 16mm films to the new 4K ultra-high definition (UHD), high-dynamic range (HDR) format necessary for the new generation of digital distribution. Sourced from NASA’s extensive microgravity research, Astrogenetix is applying a fast-track, on-orbit discovery platform using the International Space Station to develop vaccines and other therapeutics. Demonstrating its entrepreneurial strategy, Astrotech management sold its state-of-the-art satellite servicing operations to Lockheed Martin in August 2014. Astrotech has operations throughout Texas and is headquartered in Austin.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, whether we can successfully develop our proprietary technologies and whether the market will accept our products and services, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
Chief Financial Officer