1st Detect and Department of Homeland Security Enter Research & Development Agreement in Support of Transportation Security
September 27 2017 - 7:05AM
Business Wire
Astrotech (NASDAQ: ASTC) subsidiary 1st Detect has entered into
a Cooperative Research and Development Agreement (CRADA) with the
Department of Homeland Security (DHS) Science and Technology
Directorate (S&T) Transportation Security Laboratory (TSL).
The TSL will assess 1st Detect’s explosives trace detection
system, the TRACER 1000 MS-ETD. Using TSL’s credible, unbiased and
objective development, test and evaluation (DT&E) process, TSL
and 1st Detect will examine ways to improve trace detection
capabilities in support of transportation security.
“We are excited to have reached this milestone, which is an
important step toward deployment in airports, public buildings and
sports venues worldwide,” said Thomas B. Pickens III, CEO of 1st
Detect and parent company Astrotech.
“We are pleased to be collaborating with the TSL in validating
our mass spectrometer-based explosives trace detection system,
designed to protect passengers and our country’s infrastructure
from evolving threats such as explosives and narcotics. With a
reduced false positive rate and the unique ability to dynamically
update its threat library, the TRACER 1000 is expected to enhance
security while optimizing checkpoint efficiency,” added Raj
Mellacheruvu, COO of 1st Detect and Astrotech.
About Astrotech
Astrotech Corporation (NASDAQ: ASTC) is an innovative science
and technology company that invents, acquires, and commercializes
technological innovations sourced from research institutions,
laboratories, universities, and internally, and then funds,
manages, and builds proprietary, scalable start-up companies for
profitable divestiture to market leaders to maximize shareholder
value. Sourced from Oak Ridge Laboratory’s chemical analyzer
research, 1st Detect develops, manufactures,
and sells chemical analyzers for use in the security, defense,
healthcare, food and beverage, 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. For more 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, 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.
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Company Contact:Astrotech CorporationNicole Conser,
512-485-9530Marketing DirectororIR ContactLHA Investor
RelationsCathy Mattison and Kirsten Chapman,
415-433-3777ir@astrotechcorp.com
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