ETC’s Commercial/Industrial Units Awarded Three Contracts Totaling $15.9 Million

Rhea-AI Summary

Environmental Tectonics 's (ETC) Sterilization Systems Group secured contracts totaling $15.9 million from medical device manufacturers and auto racing test equipment supplier. The contracts include ethylene oxide sterilization chambers and vacuum drying chambers. ETC's dedication to innovation and unique process system designs were emphasized.

Positive

• ETC's Sterilization Systems Group secured contracts totaling $15.9 million, showcasing strong revenue growth potential.

• The contracts highlight ETC's expertise in mechanical designs, control systems, and software, positioning the company as a leader in the market.

• The award of contracts from multi-national medical device manufacturers and auto racing test equipment projects indicates ETC's credibility and trust in the industry.

Negative

• Despite the positive contract awards, potential challenges in meeting the challenging requirements of the market may arise, impacting project timelines and delivery.

• Fluctuations in the medical device, pharmaceutical, biotechnology, and life science industries may pose risks to ETC's revenue stability in the long run.

SOUTHAMPTON, Pa., May 06, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation’s (OTC Pink: ETCC) (“ETC” or the “Company”) Sterilization Systems Group announced it has been awarded $13.9 million in contracts from two multi-national medical device manufacturers. The contracts include four, sixteen pallet ethylene oxide (“EO”) sterilization system chambers with related conveyer systems, and a large capacity vacuum drying chamber with preconditioning.  

“These contracts reflect ETC Sterilization Systems Group’s dedication to innovation in our mechanical designs, control systems and software expertise to meet the challenging requirements of this market,” states Eric Hunnicutt, ETC Director of EO Sterilizer Sales. ETC’s Sterilization Systems Group offers Steam and Ethylene Oxide (“EO”) Sterilizer Systems, Vacuum Dryers, Software Systems, and project management services to the Medical Device, Pharmaceutical, Biotechnology, and Life Science industries. ETC’s systems are specially designed to meet unique process system challenges.

In addition, ETC’s Environmental Testing and Simulation Systems (“ETSS”) unit was awarded a $2.0 million contract as the environmental simulation equipment supplier for a new, state-of-the-art auto racing test cell project. This equipment includes a dynamic throttle air pressure control system and a track road speed air velocity control system, which are dynamic air systems that can maintain high accuracy intake air pressure and scoop velocity control while simulating rapidly changing race conditions. “We feel this project will be an important step in ETSS becoming a leading supplier of racing air systems test equipment for race teams in the U.S. and Europe,” states Greg Raab, ETSS Business Unit Manager.

About ETC
ETC designs, manufactures, and sells software-driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC’s headquarters is in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

Forward-looking Statements
This news release contains forward-looking statements, which are based on management's expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "future", "predict", "potential", "intend", or "continue", and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

Contact:	Robert L. Laurent, CEO & President
Phone:	(215) 355-9100
E-mail:	info@etcusa.com

FAQ

What contracts did Environmental Tectonics 's Sterilization Systems Group secure?

ETC's Sterilization Systems Group secured contracts totaling $15.9 million, including ethylene oxide sterilization chambers and vacuum drying chambers.

Who were the contracts awarded by?

The contracts were awarded by two multi-national medical device manufacturers and a new auto racing test cell project.

What services does ETC's Sterilization Systems Group offer?

ETC's Sterilization Systems Group offers Steam and Ethylene Oxide Sterilizer Systems, Vacuum Dryers, Software Systems, and project management services to various industries.

What was the value of the contract awarded to ETC's Environmental Testing and Simulation Systems unit?

The Environmental Testing and Simulation Systems unit was awarded a $2.0 million contract as the environmental simulation equipment supplier for an auto racing test cell project.