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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Astrotech Announces Major Milestone – 1st Detect Receives ECAC Certification

February 21, 2019

AUSTIN, Texas--(BUSINESS WIRE)--Feb 21, 2019--Astrotech Corporation (NASDAQ: ASTC) today announced that its wholly-owned subsidiary, 1 st Detect, received formal certification for both passenger and cargo screening for its explosives trace detector (ETD), the TRACER 1000, from the European Civil Aviation Conference (ECAC) and can now sell its product internationally.

“The 1 st Detect TRACER 1000 ECAC certification marks the end of the old and ushers in a new era of efficiency and savings. The TRACER 1000, with its near-zero false alarm rate, has been designed to reduce risk, speed up the passenger lanes, and save airports hundreds of millions in unnecessary screening costs. Airport security personnel and passengers have been struggling with antiquated and cumbersome ion mobility spectrometry (IMS) based ETDs for decades, and it is now time to speed up the lanes and end the needless and embarrassing pat-downs. The industry has long been looking for a solution and after many years of hard work we are very proud to introduce the breakthrough TRACER 1000 ETD technology,” stated Thomas B. Pickens III, CEO of Astrotech.

“Early demonstrations to prospective customers of the TRACER 1000 have gone extraordinarily well. It is clear that there is a longstanding dissatisfaction with the previous generation of ETD’s and potential customers are genuinely interested in our superior mass spectrometry technology to lower their operating costs and dramatically increase threat detection capabilities to address evolving threats,” stated Raj Mellacheruvu, CEO of 1 st Detect.

If you are interested in a demo or in learning more about the TRACER 1000, please contact us at sales@1stdetect.com or at (512) 485-9539.

About 1 st Detect

1 st Detect develops, manufactures, and sells chemical analyzers for use in the security, defense, healthcare, and environmental markets. For more information, visit  www.1stdetect.com.

About Astrotech

Headquartered in Austin, Texas, Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value.

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, the Company’s use of proceeds from the private placement transaction, 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 for the fiscal year ended June 30, 2018. Any forward-looking statements in this document should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to update these forward-looking statements.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190221005301/en/

CONTACT: Eric Stober

Chief Financial Officer

Astrotech Corporation

(512) 485-9530

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SOFTWARE TRANSPORT AIR SECURITY

SOURCE: Astrotech Corporation

Copyright Business Wire 2019.

PUB: 02/21/2019 07:00 AM/DISC: 02/21/2019 07:01 AM

http://www.businesswire.com/news/home/20190221005301/en