Astrotech Corp (NASDAQ:ASTC) shot up today +50% after the company announced they will be demonstrating their mass spectrometry explosive detector that will be sold to TSA.
The first detector passed with flying colors in the first demo. “We believe the TRACER 1000 will address the TSA’s current and future ETD needs, and we are excited to begin testing with the Department of Homeland Security’s Transportation Security Laboratory in the coming weeks,” said Thomas B. Pickens III, CEO of 1st Detect and Astrotech. “The TRACER 1000 will significantly augment airport security by resolving the problems the TSA has with current IMS-based ETD systems. The demonstration of the TRACER 1000 at our annual meeting will showcase the results of years of investment, dedicated hard work, and numerous technological breakthroughs to enhance our nation’s security.”
Astrotech Corp (NASDAQ:ASTC) is a science and technology development and commercialization company. The Company invents, acquires and commercializes technological innovations sourced from internal research, universities, laboratories and research institutions. The Company operates through two business units: Astro Scientific and Astral Images Corporation (Astral). The Astro Scientific is a technology incubator that commercializes technologies, and includes the operations of subsidiaries, such as 1st Detect Corporation (1st Detect) and Astrogenetix, Inc. (Astrogenetix). Astral segment provides film digitization, image correction and enhancement technology. It offers systems containing off-the-shelf hardware with integrated Astral software, software products and scanning or enhancement services. The Astral segment offers products, including Astral Black ICE, Astral Color ICE and Astral HDR ICE. The Company’s product portfolio also consists of MMS-1000 and OEM-1000.
And more about ASTC, according to the company, they are an innovative science and technology company that invents, acquires, and commercializes technological innovations sourced from research institutions, laboratories, universities, and internally, and then funds, manages, and builds proprietary, scalable start-up companies for profitable divestiture to market leaders to maximize shareholder value. Sourced from Oak Ridge Laboratory’s chemical analyzer research, 1st Detect develops, manufactures, and sells chemical analyzers for use in the security, defense, healthcare, food and beverage, and environmental markets. Sourced from decades of image research from the laboratories of IBM and Kodak, Astral Images sells film-to-digital image enhancement, defect removal and color correction software, and post processing services providing economically feasible conversion of television and feature 35mm and 16mm films to the new 4K ultra-high definition (UHD), high-dynamic range (HDR) format necessary for the new generation of digital distribution. Sourced from NASA’s extensive microgravity research, Astrogenetix is applying a fast-track, on-orbit discovery platform using the International Space Station to develop vaccines and other therapeutics. Demonstrating its entrepreneurial strategy, Astrotech management sold its state-of-the-art satellite servicing operations to Lockheed Martin in August 2014. Astrotech has operations throughout Texas and is headquartered in Austin
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More from the press release, the TRACER 1000 is a mass spectrometry-based explosives trace detector (ETD), custom-developed for the TSA as an improvement over and replacement for the ion mobility spectrometry ETD systems currently deployed at aviation checkpoints worldwide.
These antiquated IMS systems have many shortcomings – most notably their limited library of detectable compounds, inability to adapt to emerging threats, and significant false positive rates that extend security wait times. The TRACER 1000 overcomes all of these shortcomings, and also provides significant enhancements, including:
- Considerably expanded list of explosives, narcotics and other compounds of interest;
- Target library that can be instantaneously updated or expanded in the field without requiring hardware configuration changes;
- Near-zero false positive rates;
- Improved passenger satisfaction due to increased throughput at checkpoints; and
- Similar market cost to current IMS ETDs.
Astrotech Corp (NASDAQ:ASTC) has earned a market cap with $19.35M and shares out at 4.51M. ASTC could be sitting on an important piece of Homeland Security technology. The next few months should be interesting for ASTC and they need to be on your radar. Sign-up for continuing coverage on shares of $ASTC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ASTC, either long or short, and we have not been compensated for this article.