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1st Detect Sells TRACER 1000™ Explosives Trace Detectors to Global Shipping and Logistics Company

November 22, 2019

AUSTIN, Texas--(BUSINESS WIRE)--Nov 22, 2019--

Astrotech Corporation (NASDAQ: ASTC) announced today that 1 st 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 1 st 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 1 st 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. 1 st 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191122005113/en/

Eric Stober, Chief Financial Officer, Astrotech Corporation, (512) 485-9530 

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: ENGINEERING DEFENSE TECHNOLOGY MANUFACTURING OTHER DEFENSE HARDWARE

SOURCE: Astrotech Corporation

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PUB: 11/22/2019 07:00 AM/DISC: 11/22/2019 07:00 AM

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