1st Detect Lands First Purchase Order for Checkpoint Security

Rhea-AI Summary

Astrotech Corporation (NASDAQ: ASTC) announced a significant purchase order for its TRACER 1000 explosives trace detector, marking its first deployment at airport security checkpoints. The TRACER 1000, already used at cargo facilities, will now operate in 15 locations across 10 countries in Europe and Asia. This mass spectrometry-based technology offers advantages such as high sensitivity, low false alarms, and has received ECAC certification. CEO Thomas B. Pickens reported increased interest in the TRACER 1000 as air travel recovers post-COVID, potentially improving operational efficiency at airports.

Positive

• First deployment of TRACER 1000 at airport security checkpoints, expanding market presence.
• High sensitivity and near-zero false alarms improve operational efficiency, potentially attracting more travelers.
• Already operational in 15 locations across 10 countries, enhancing brand visibility and reliability.

Negative

• None.

AUSTIN, Texas--(BUSINESS WIRE)-- Astrotech Corporation (NASDAQ: ASTC) announced today that its 1^st Detect subsidiary has secured an important landmark purchase order for its TRACER 1000™, representing the first units to be deployed at an airport security checkpoint. Including prior sales to worldwide cargo facilities, the TRACER 1000 explosives trace detector (ETD) will now be operating in fifteen locations in ten countries throughout Europe and Asia.

The Astrotech Mass Spectrometer Technology™ (AMS Technology) drives the breakthrough TRACER 1000, the first certified ETD to employ mass spectrometry. Long recognized as the gold standard in chemical detection, mass spectrometry has historically been too costly, bulky, and cumbersome to be used outside of the laboratory. Unlike other technologies, the AMS Technology works under ultra-high vacuum, which eliminates competing molecules that can impair the accuracy and quality of an analysis. The TRACER 1000 is inexpensive, small, and easy to use, with high resolution and near-zero false alarms. Due to its high sensitivity and rugged design, the TRACER 1000 is the only mass spectrometry-based ETD to have received European Civil Aviation Conference (ECAC) certification for both checkpoint and cargo security.

“As air travel spending begins to return to normal following the slowdown caused by the COVID-19 pandemic, we are seeing renewed interest in checkpoint use for the TRACER 1000 ETD,” said Thomas B. Pickens, Chairman and Chief Executive Officer of 1^st Detect. “We are excited that airport operators are beginning to understand that mass spectrometry is a superior technology for the detection of explosives, providing benefits to both airports and travelers. Based on our near-zero false alarms, we believe that operating costs will be considerably lower and passenger throughput will be much faster when compared to competing screening devices. This could lead to more consumer spending in airports as passengers avoid unnecessary delays at the screening checkpoint,” concluded Pickens.

About Astrotech Corporation
Astrotech (NASDAQ: ASTC) is a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core technology. 1^st Detect is a manufacturer of explosives and narcotics trace detectors developed for use at airports, cargo and other secured facilities, and borders worldwide. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005266/en/

Eric Stober

Chief Financial Officer

Astrotech Corporation

(512) 485-9530

 

Source: Astrotech Corporation

FAQ

What is the significance of Astrotech's TRACER 1000 purchase order?

The purchase order for the TRACER 1000 marks its first deployment at airport security checkpoints, expanding its market presence.

How does the TRACER 1000 compare to other explosives detectors?

The TRACER 1000 uses mass spectrometry, providing high sensitivity, low false alarms, and ECAC certification, making it superior to traditional detectors.

In how many locations is the TRACER 1000 currently operational?

The TRACER 1000 is currently operational in 15 locations across 10 countries in Europe and Asia.

What are the expected benefits of using the TRACER 1000 at airports?

The TRACER 1000 is expected to lower operational costs and improve passenger throughput, which could lead to increased consumer spending in airports.

What impact does the recovery of air travel have on Astrotech?

The recovery of air travel has led to renewed interest in the TRACER 1000, potentially boosting sales and market demand for the technology.