AUSTIN, Texas--(BUSINESS WIRE)--Astrotech Corporation (NASDAQ: ASTC) announced today that 1st Detect has signed a contract with a global shipping and logistics company and is already fulfilling purchase orders. Under the terms of the contract, the 1st Detect TRACER 1000™ has been approved on the Company’s approved vendor list and is now available for corporate-wide purchases on pre-negotiated terms.
“Being added to the customer’s global vendor list and already receiving purchase orders is an important validation of our technology and our unique value proposition,” stated Raj Mellacheruvu, Chief Executive Officer of 1st Detect. “It is an absolute pleasure to work with a global shipping and logistics company in advancing the status quo in this industry and making our airways safer,” he added.
The TRACER 1000 is an explosives trace detector (ETD) that has been engineered to meet the current and next generation requirements for both passenger and cargo security checkpoints. With a virtually unlimited and instantly updatable threat library, low cost of ownership, near-zero false alarm rate, and near-100% uptime, security operators can now inexpensively stay ahead of the ever evolving explosive and narcotic threats.
About Astrotech Corporation
Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology that are designed to maximize shareholder value. 1st Detect develops, manufactures, and sells explosives and narcotics trace detectors for use in the air transport security markets. 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.