My Note: Thanks to my friend Ace for sharing this news release with me.
AUSTIN, Texas, Jan. 26, 2012 (GLOBE NEWSWIRE) -- 1st Detect Corporation, a subsidiary of Astrotech Corporation (Nasdaq:ASTC - News), is pleased to announce the delivery of pre-production mini-mass spectrometers to select customers for evaluation.
"After years of development, we are very proud to have leading analytical equipment vendors evaluating our mini-mass spectrometer," said Thomas B. Pickens III, Chairman of 1st Detect. "We believe 1st Detect's mini-mass spectrometer technology represents a breakthrough by delivering performance comparable to large laboratory mass spectrometers in a small and affordable instrument that can reach many applications that were never before possible. This is a major development milestone as 1st Detect is now transforming from its R&D phase to a market driven, commercially focused business enterprise."The 1st Detect mini-mass spectrometer technology is capable of detecting trace levels of volatile compounds and has been developed for the security, industrial and research laboratory markets. We believe the technology platform is ideally suited for these applications, having been designed to provide highly accurate and rapid analysis and detection of very low concentrations of chemical compounds.
"I am extremely excited about the technology breakthroughs the 1st Detect team has innovated," added Mr. Pickens. "Our talented R&D team has spent years developing what we consider to be the best performing miniature mass spectrometer available. This product fulfills an unmet need in the chemical detection market by providing a true mini-mass spectrometer that is superior to the widely adopted ion mobility spectrometry (IMS) products."
The 1st Detect proprietary mini-mass spectrometry technology provides a broad and versatile platform that we plan to integrate with follow-on products optimized for the security and industrial markets including airports, border crossings, law enforcement, military uses, agricultural processing, refineries, chemical plants, pharmaceutical manufacturing, process control, water and wastewater treatment facilities.
About 1st Detect Corporation
1st Detect Corporation was formed by Astrotech Corporation (Nasdaq:ASTC - News) to develop and commercialize miniature-mass spectrometer technology first developed under an agreement with NASA for use on the International Space Station (ISS). 1st Detect offers what we believe is a breakthrough mini-mass spectrometry technology that fills an unmet need by being highly accurate, rapid, lightweight, durable and cost-effective. For more information on 1st Detect Corporation, please visit www.1stDetect.com.
About Astrotech Corporation
Astrotech is one of the first space commerce companies and remains a strong entrepreneurial force in the aerospace industry. We are leaders in identifying, developing and marketing space technology for commercial use. Our ASO business unit serves our government and commercial satellite and spacecraft customers with pre-launch services on the eastern and western range. 1st Detect Corporation is developing what we believe is a breakthrough mini-mass spectrometer, while Astrogenetix, Inc. is a biotechnology company utilizing microgravity as a research platform for drug discovery and development.
The 1st Detect Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7997
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, continued government support and funding for key space programs, the ability to expand ASO, the availability of capital for reinvestment in growth initiatives, the continued development of technology solutions, product performance and market acceptance of 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.
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