Astrotech Presents the First Process Control System for Cannabinoid Oil Distillation Systems

Rhea-AI Summary

Astrotech Corporation (ASTC) and its subsidiary AgLAB, Inc. present the AgLAB Maximum Value Process™ (MVPTM) at MJBizCon, unveiling a revolutionary process control system proven to increase revenue by an average of 32%. The MVPTM uses proprietary technology to provide real-time data and feedback, enabling distillers to optimize the quality and quantity of each batch of oil, resulting in higher potencies, better color, and a significant increase in yield. The technology will be showcased at MJBizCon, the leading global hemp and cannabis business conference and tradeshow.

Positive

• AgLAB's MVPTM has been proven to deliver a 32% average increase in revenue, providing a significant boost to distillers' bottom line.
• The technology offers real-time data and feedback, enabling distillers to optimize the quality and quantity of each batch of oil, resulting in higher potencies, better color, and a significant increase in yield.

Negative

• None.

Astrotech’s proven AgLAB Maximum Value Process™ delivers 32% average increase in revenue

AUSTIN, Texas, Nov. 27, 2023 (GLOBE NEWSWIRE) -- via IBN - Astrotech Corporation (NASDAQ: ASTC) ("Astrotech" or the "Company") and its wholly owned subsidiary, AgLAB, Inc., announce the presentation of the AgLAB Maximum Value Process^TM (“MVP^TM”) at MJBizCon. This process is a revolutionary process control system proven to increase the potency of ending-weight yields and increase revenue by an average of 32%. MVP^TM uses AgLAB’s proprietary mass spectrometer and testing method to provide real-time data and feedback, allowing distillers to adjust the parameters (temperature, feed-rate, pressure) and optimize the quality and quantity of each batch of oil.

MVP^TM is the fastest and most accurate testing method available, providing up to 20 tests per hour and ensuring optimal continuous processing.  MVP^TM is compatible with any of the thin-film, short-path, Molecular Distillation Systems (MDS) operating under high vacuum. MDS vacuum systems introduce challenges such as vacuum leaks leading to variations in pressures and temperatures, which can result in losses of 20% to 55% in revenue. MVP^TM solves these challenges by providing a quick and easy test that recovers these losses and delivers higher potencies, better color, and an average of 32% increase in yield.

“We are proud to introduce the AgLAB MVP^TM, a breakthrough technology that is more accurate and faster than the HPLC. The AgLAB MVP^TM is very easy to learn and use and has proven to more than pay for itself starting on the first day of use. We believe this is a game changer for the cannabinoid industry and that all cannabinoid processors will need AgLAB MVP^TM to stay competitive,” said Tom Pickens, CEO/CTO of Astrotech.

MVP^TM will be showcased at the AgLAB Booth, Nov. 28 to Dec. 1, 2023, at MJBizCon, the No. 1 global hemp and cannabis business conference and tradeshow. Held annually at the Las Vegas Convention Center, MJBizCon features over 1,400 exhibitors and more than 30,000 industry executives from around the world.

About the AgLAB

AgLAB, Inc. has developed the world’s first ruggedized mass spectrometer that has been specially designed for the chemical distillation of valuable hemp and cannabis oils.  For more information, please visit www.Astrotechcorp.com and www.AgLab.com.

About Astrotech

Astrotech is an innovative science and technology company that invents, acquires, and commercializes technological innovations while building scalable companies to maximize shareholder value.  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, the adverse impact of inflationary pressures, including significant increases in fuel costs, global economic conditions and events related to these conditions, including the ongoing wars in Ukraine and the middle east and the COVID-19 pandemic, the Company’s use of proceeds from the common stock offerings, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, whether the market will accept our products and services and whether we are successful in identifying, completing and integrating acquisitions, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the Company’s most recent Annual Report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. While we do not intend to directly harvest, manufacture, distribute or sell cannabis or cannabis products, we may be detrimentally affected by a change in enforcement by federal or state governments and we may be subject to additional risks in connection with the evolving regulatory area and associated uncertainties. Any such effects may give rise to risks and uncertainties that are currently unknown or amplify others mentioned herein. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. 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 correct or update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What is the name of the company presenting the AgLAB Maximum Value Process™ at MJBizCon?

Astrotech Corporation (ASTC) and its subsidiary AgLAB, Inc.

What is the average increase in revenue delivered by the AgLAB MVPTM?

The AgLAB MVPTM has been proven to deliver an average increase in revenue of 32%.

Where will the AgLAB MVPTM be showcased?

The AgLAB MVPTM will be showcased at MJBizCon, the No. 1 global hemp and cannabis business conference and tradeshow, held annually at the Las Vegas Convention Center.

What is the main benefit of the AgLAB MVPTM for distillers?

The MVPTM provides real-time data and feedback, enabling distillers to optimize the quality and quantity of each batch of oil, resulting in higher potencies, better color, and a significant increase in yield.