AUSTIN, Texas–(BUSINESS WIRE)–Jan 7, 2019–Astrotech Corporation (NASDAQ: ASTC) today announced that its wholly-owned subsidiary, 1 st Detect, has received initial notice that its explosives trace detector (ETD), the TRACER 1000, has successfully passed the European Civil Aviation Conference (ECAC)’s Common Evaluation Process (CEP) test for airport cargo screening. The TRACER 1000 was the first mass spectrometry-based ETD to pass ECAC’s stringent laboratory testing protocol for checkpoint security and has now achieved a second major milestone in less than a month, becoming the first mass spectrometry-based ETD to pass ECAC’s test for cargo screening. It is expected that 1 st Detect will receive formal certification for both checkpoint and cargo screening at the CEP Management Group’s next meeting.
“1 st Detect has now passed all of the required tests and we have already begun the sales process with qualified buyers from around the world. We are very excited about the many positive responses and genuine interest we have already received,” stated Thomas B. Pickens III, CEO of 1 st Detect and Astrotech.
“Passing ECAC’s CEP test for airport cargo screening is another important validation of our technology. We are committed to being the leader in detecting explosives in cargo worldwide. The TRACER 1000 was designed to speed up the screening process with near-zero false alarms, ensuring a much faster flow of goods and packages through warehouses and transfer points,” added Raj Mellacheruvu, COO of 1 st Detect and Astrotech.
1 st Detect develops, manufactures, and sells chemical analyzers for use in the security, defense, healthcare, and environmental markets. For more information, visit www.1stdetect.com.
Headquartered in Austin, Texas, 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.
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, the Company’s use of proceeds from the private placement transaction, 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 for the fiscal year ended June 30, 2018. Any forward-looking statements in this document should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to update these forward-looking statements.
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CONTACT: Eric Stober
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KEYWORD: UNITED STATES EUROPE NORTH AMERICA TEXAS
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SOURCE: Astrotech Corporation
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PUB: 01/07/2019 07:00 AM/DISC: 01/07/2019 07:01 AM