COVINGTON, Ky.--(BUSINESS WIRE)--Valley Forge Composite Technologies, Inc. (OTCBB:VLYF) and its subsidiary Valley Forge Detection Systems, Inc. announced today that development of its THOR LVX Advanced Explosives Detection System is nearing completion. THOR LVX is an Advanced Explosives Detection System capable of penetrating shielding to detect and identify explosives, nuclear material, narcotics and chemical and biological agents using photonuclear technology. “The assumptions of high efficiency and high speed of the photonuclear method and its greater advantages above other methods of detection of hidden explosives have been confirmed by project collaborators at the P. N. Lebedev Physical Institute,” reported Valley Forge President and CEO Lou Brothers. This project is a joint effort between Valley Forge Composite Technologies, Inc. and leading physicists at the P.N. Lebedev Physical Institute and is sponsored by the National Nuclear Security Administration under the Department of Energy. The Thor LVX prototype has been developed at the P. N. Lebedev Physical Institute and the first production unit is currently being built in the United States. Expected markets for this system include airports, seaports, cargo terminals and border crossings.
“THOR LVX is expected to play a major role in cargo screening,” says Mr. Brothers. On August 3, 2007 President Bush signed into law Bill “H.R. 1 Implementing Recommendations of the 9/11 Commission Act of 2007” that requires screening of all cargo on passenger airplanes within three years and sets a five-year goal of scanning all United States-bound cargo containers for nuclear devices before they leave foreign ports. According to U. S. Representative Bob Etheridge, in a statement made on May 4, 2006, only 5% of cargo containers leaving foreign ports bound for the U.S. are screened, http://www.house.gov/etheridge/Press-SafePortAct.htm.
Valley Forge Composite Technologies, Inc. and its wholly owned subsidiaries are developers, manufacturers and worldwide distributors of next-generation detection and aerospace systems. Valley Forge Detection Systems, Inc. is developing the THOR LVX Advanced Explosives Detection System.
Valley Forge Imaging, Inc. offers the ODIN-ULDRIS Personnel Screening System. This system may be used in any market requiring personnel screening such as schools, government buildings, sporting events and passenger terminals. It allows screeners to detect items such as explosives, weapons, narcotics, gemstones, bundled currency and ingested items at a rate of approximately 700 persons per hour.
Valley Forge Aerospace, Inc. offers cutting-edge components to the aerospace industry. Valley Forge Emerging Technologies, Inc. will bring other emerging technologies to market.
More information about Valley Forge Composite Technologies, Inc., its subsidiaries, and its products can be found at www.vlyf.com.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor" for certain forward-looking statements. Statements in this press release that relate to Valley Forge Composite Technologies, Inc.’s future plans, objectives, expectations, performance, events, reports made by others, and the like, including a statement about the assumptions underlying a forward-looking statement, are forward-looking statements protected by the safe harbor. Investors should understand that future events, risks and uncertainties, individually or in the aggregate, are factors that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. These factors could include changes in economic conditions or government policies that may change the demand for the Company's products and services and could include other factors discussed in the sections of the Company’s report on Form 10-KSB for the year ended December 31, 2006 as filed with the U.S. Securities and Exchange Commission, entitled “Description of Business” or “Management’s Discussion and Analysis or Plan of Operation.” This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Valley Forge Composite Technologies, Inc. uses paid services of investor relations organizations to promote the Company to the investment community. Investments in the Company should be considered speculative, and, prior to acquisition, should be thoroughly researched. Valley Forge Composite Technologies, Inc. does not intend to update these forward-looking statements prior to its reporting of its quarterly or annual results.