SPACEHAB PRODUCT EARNS SAFETY ACT DESIGNATION FROM U.S. DEPARTMENT OF HOMELAND SECURITY
Houston, TX (May 20, 2008) -
SPACEHAB Incorporated, (NASDAQ: SPAB), today announced its receipt of a formal Developmental Testing and Evaluation (DT&E) Designation from the U.S. Department of Homeland Security for the Company's new in house developed Miniature Mass Spectrometer (MMS) technology named "1 st Detect."
The designation was instituted by the U.S. Department of Homeland Security to encourage the development of 'promising anti-terrorism technologies' by providing legal liability protections under the Support Anti-terrorism by Fostering Effective Technologies Act of 2002, or the SAFETY Act. The designation letter that was received April 10, 2008, states "SPACEHAB, Incorporated's Miniature Mass Spectrometer is such a technology."
Through its new subsidiary, SPACETECH, the Company has been developing the MMS, a trace chemical analyzer capable of detecting residues and vapors from explosives, chemical warfare agents, and toxic chemicals. The MMS samples ambient air and measures the constituent chemicals using ion-trap mass spectrometry. The technology, which also includes proprietary software used for accurate chemical identification is being targeted for use and applications to the homeland security, defense and industrial uses.
SPACETECH will debut its MMS product at the 56 th Annual Conference American Society for Mass Spectrometry (ASMS) Conference in Denver, Colorado, June 2 - 5, 2008. More than 6,500 scientists from around the world congregate at the ASMS conference every year drawing together significant research, developments and products in the field of mass spectrometry.
SPACETECH, a SPACEHAB wholly owned subsidiary, is an innovative technology incubator created for leveraging and extending the Company's relevant capabilities to develop and bring new systems, products and services to market.
About SPACEHAB, Incorporated
SPACEHAB is a commercial leader and entrepreneurial force in the space industry providing a full spectrum of products and services to both the government and private sectors. The Company offers space access and payload integration services, production of valuable commercial products in space, spacecraft pre-launch processing facilities and services, development and extension of space-based products to the consumer market, and program and engineering support ranging from development and manufacturing of flight hardware to large scale government project management.
The statements in this document may contain 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 & 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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