DEPARTMENT OF HOMELAND SECURITY AWARDS CONTRACT TO SMITHS DETECTION AND ASTROTECH SUBSIDIARY 1ST DETECT FOR NEXT GENERATION EXPLOSIVES TRACE DETECTION SYSTEMS
Austin, TX (March 9, 2016) -
1st Detect, Inc., a subsidiary of Astrotech (NASDAQ:ASTC), has partnered with Smiths Detection Inc.- a subsidiary of Smiths Group (LSE: SMIN, ADR: SMGZY) to develop next generation explosives trace detection (ETD) systems for the Department of Homeland Security Science and Technology Directorate (DHS S&T) using 1st Detect’s breakthrough chemical analyzer technology.
Smiths Detection Inc. is currently one of three TSA prime contractors and an incumbent ETD provider. This development contract represents the first phase and is expected to last 24 months. Subsequent phases include design for manufacturability followed by procurement.
Smiths Detection and 1st Detect will work together towards providing a revolutionary next generation solution helping to enhance passenger and carryon baggage screening as well as other homeland security operations.
“We are very excited to be working with Smiths Detection on this worldwide opportunity,” said Thomas B. Pickens III, Chairman and CEO of Astrotech and 1st Detect, Inc. “We have been working for years to position our technology to reach the high level of performance needed to be selected by both the DHS and Smiths Detection. Being selected for this important program validates both our technology and our long term corporate strategy.”
About 1st Detect Corporation
1st Detect, a subsidiary of Astrotech Corporation (NASDAQ: ASTC), develops, manufactures, and sells powerful, sensitive, and accurate chemical analyzers that streamline processes for industrial use in the food and beverage, semiconductor, pharmaceutical, healthcare, research, and environmental markets, as well as for government applications used in explosive and chemical warfare detection for the Department of Homeland Security and the military. The company’s core mass spectrometry technology was first developed under an agreement with NASA for use on the International Space Station. The unit is capable of detecting a wide variety of chemicals including residues and vapors from explosives, chemical warfare agents, toxic chemicals, food & beverage contaminants, and pollutants. These capabilities, combined in an economically priced, transportable, and ruggedized solution, make it an ideal tool for a variety of applications. For more information on 1st Detect Corporation, please visit www.1stDetect.com.
About Astrotech Corporation
Astrotech Corporation (NASDAQ: ASTC) identifies and commercializes technologies through its closely held subsidiaries. Management sources investment opportunities from various government laboratories, agencies, universities and corporations, as well as through its own internal research. Sourced from Oak Ridge Laboratory’s chemical analyzer research, 1st Detect develops, manufactures, and sells chemical analyzers that streamline processes for industrial use in the airport security, food and beverage, semiconductor, pharmaceutical, research, and environmental markets, and the military. Sourced from decades of image research from the laboratories of IBM and Kodak combined with classified satellite technology from government laboratories, 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. For information please visit www.astrotechcorp.com
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, continued government support and funding for key space programs, product performance and market acceptance of 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.
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