ASTROTECH’S (NASDAQ:ASTC) 1ST DETECT UNIT INTRODUCES ITS LATEST TECHNOLOGY BREAKTHROUGH
Austin, TX (June 26, 2014) -
1st Detect, a subsidiary of Astrotech (Nasdaq:ASTC), is pleased to pleased to announce a strategic alliance with SparkCognition, developers of MindSpark, the award winning Cognitive Analytics platform for the industrial internet. By embedding novel Data Science algorithms and advanced neural network powered analytics in our MMS-1000 instrument, 1st Detect will be well positioned to bring the first adaptive and predictive data analysis solution to the chemical detection and monitoring industry.
“Typical data processing with mass spectrometers is antiquated, slow and cumbersome. Our strategic alliance with SparkCognition continues our culture of introducing disruptive technology breakthroughs that are reshaping the mass spectrometry market by delivering state-of-the-art data analytics,” said Thomas B. Pickens III, Chairman and CEO of 1st Detect. “Cognitive and Predictive Analytics capabilities allow chemical data to be more thoroughly understood while learning from those conclusions to make better predictions in the future.”
"We are very pleased about our partnership with 1st Detect, which will bring a rich repertoire of industry-leading capabilities to the MMS-1000," said Amir Husain, Founder and CEO of SparkCognition. "The mobile chemical analysis made possible with 1st Detect's products presents a compelling industrial internet application with monumental growth potential. Advanced analytics combined with a cost-effective sensor, like the MMS-1000, can solve massive problems in multiple large markets."
1st Detect Corporation has developed an instrument that revolutionizes the chemical detection and analysis market by delivering lab performance mass spectrometry in a small, affordable and easily portable package. The 1st Detect mass spectrometer is capable of detecting a wide variety of chemicals including residues and vapors from explosives, chemical warfare agents, toxic chemicals, food and beverage contaminants, and pollutants. These abilities make it an ideal tool for a variety of applications in the research, security, industrial, process flow and healthcare markets.
About 1st Detect Corporation
1st Detect Corporation was formed by Astrotech Corporation (Nasdaq:ASTC) to develop and commercialize miniature mass spectrometer technology first developed under an agreement with NASA for use on the International Space Station. 1st Detect offers a breakthrough miniaturized mass spectrometer that fills an unmet need by being highly accurate, rapid, lightweight, and cost-effective. For more information on 1st Detect Corporation, please visit www.1stDetect.com.
About Astrotech Corporation
Astrotech is one of the first space commerce companies and remains a strong entrepreneurial force in the aerospace industry. We are leaders in identifying, developing and marketing space technology for commercial use. Our Astrotech Space Operations business unit serves our government and commercial satellite and spacecraft customers with pre-launch services on the eastern and western range. 1st Detect Corporation has developed a breakthrough miniature mass spectrometer, while Astrogenetix, Inc. is a biotechnology company utilizing microgravity as a research platform for drug discovery and development.
About SparkCognition, Inc.
SparkCognition, Inc. is a leading Cognitive Analytics software company based in Austin, Texas. Its award-winning MindSpark platform and Cognitive Fingerprinting technology model physical and virtual assets, continuously learn from data, and derive intelligent insights to secure and protect assets round the clock. SparkCognition has partnerships with IBM Power Systems Group, SoftLayer (an IBM Company) and HP. For more information on the company, its technology and team, please visit http://www.sparkcognition.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.
FOR MORE INFORMATION:
+1 (512) 485-9530