Astrotech’s Subsidiary 1st Detect Surpasses $1 Million in Purchase Orders
October 28 2020 - 07:00AM
Business Wire
- Announces DHL as Prominent Customer
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Astrotech Corporation (NASDAQ: ASTC) announced today that its
1st Detect subsidiary has exceeded $1 million in purchase orders
and an additional $1 million in future service & support
commitments for its TRACER 1000™ mass-spectrometry based explosives
trace detector (ETD). TRACER 1000 units are currently deployed at
multiple locations in eight countries across Europe & Asia,
including numerous DHL (Deutsche Post AG) locations.
“Achieving this milestone, especially during the COVID-19
pandemic which dramatically impacted the transportation sector, is
a great validation of the unique value proposition that mass
spectrometry technology brings to the aviation security industry.
We are excited about the growth potential due to our expanding
sales and service partner network and the recovering transportation
sector,” stated Raj Mellacheruvu, Chief Executive Officer of 1st
Detect. “It gives us great pleasure to work with DHL and our other
customers that put a high priority on the safety of their employees
and customers,” he added.
“There is no more challenging environment for a mass
spectrometer than an open air, dirty, air cargo facility that can
be hot or cold. We have now proven that our Astrotech Mass
Spectrometer Technology™ can perform extremely well in such harsh
environments, providing further evidence of our superior
technology,” said Thomas Pickens, the CEO of Astrotech Corporation.
“Astrotech’s strategy is to continue to open new markets where
fast, high performance, rugged, and easy to use mass spectrometry
is in demand,” he added.
The TRACER 1000 is the only certified ETD that uses mass
spectrometry, the world’s gold standard instrumentation used to
identify complex chemical compounds. Certification was received
from the European Civil Aviation Conference (ECAC) enabling TRACER
1000 sales in Europe and much of the rest of the world.
Additionally, on September 9, 2020, the TRACER 1000 passed the
non-detection testing of the U.S. Transportation Security
Administration’s (TSA) Air Cargo Screening Technology Qualification
Test (ACSQT). Upon successful completion of detection testing,
which is the next and final phase, the TRACER 1000 will be added to
the Air Cargo Screening Technology List (ACSTL) as an “approved”
ETD for sales to the cargo screening market within the United
States.
About Astrotech Corporation Astrotech (NASDAQ: ASTC) is a
science and technology development and commercialization company
that launches, manages, and builds scalable companies based on
innovative technology in order to maximize shareholder value. 1st
Detect develops, manufactures, and sells trace detectors for use in
the security and detection market. Astrotech is headquartered in
Austin, Texas. 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, 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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version on businesswire.com: https://www.businesswire.com/news/home/20201028005354/en/
Eric Stober, Chief Financial Officer, Astrotech Corporation,
(512) 485-9530
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