Company Announcements

AUSTIN, Texas, April 02, 2024 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) ("Astrotech" or the "Company") and its wholly owned subsidiary, 1^st Detect Corporation, announces that it will be showcasing its TRACER 1000 Narcotics Trace Detector (“NTD”) and Explosives Trace Detector (“ETD”) at the International Security Conference and Exposition, also known as ISC West, in Las Vegas, Nevada, from April 9-12, 2024, in booth number 2067.

The TRACER 1000 is a high-performance laboratory instrument that is powered by the Astrotech Mass Spectrometer Technology™ (“AMS Technology”). Our mass spectrometer is capable of rapid detection of trace levels of narcotic or explosive compounds in seconds. The TRACER 1000 provides a ruggedized platform that can be applied across various markets including airports, border security, checkpoint, cargo, infrastructure security, correctional facilities, military, and law enforcement.

Currently, the Company’s Tracer 1000 ETD is now found in multiple locations in 14 countries throughout the world. The Tracer 1000 NTD library is capable of detecting many narcotics including fentanyl, heroin and cocaine.

“We are extremely excited to share our user-friendly mass spectrometer the TRACER 1000, which is powered by our AMS Technology, with leading industry experts and security industry professionals at the ISC West conference. This allows us a platform to reach those in the industry across various markets, such as security, checkpoint, military, and law enforcement that strive for quality instrumentation, that requires a minimum amount of maintenance, and want accurate but rapid detection,” said Thomas B. Pickens, III, Astrotech’s Chairman, Chief Executive Officer, and Chief Technology Officer.

ISC West is the one of the leading comprehensive security trade events in the U.S. and will have some of the country’s leading security and public safety professionals in attendance. The conference enables exhibitors to present the latest products, industry innovations and market trends while also serving as a marketplace for new business opportunities in a rapidly evolving security sector. Lastly, ISC West hosts engaging discussions of current challenges, opportunities and an outlook into the future of this evolving market. The TRACER 1000 is a rugged, fast, size of a desktop printer, and easy-to-use mass spectrometer with near-zero false alarms. The TRACER 1000 is the first mass spectrometry-based ETD to have received European Civil Aviation Conference (“ECAC”) certification for both checkpoint and cargo security.

Using the same successful AMS Technology, the TRACER 1000 maintains the accuracy of much larger mass spectrometers even though it is compact. While mass spectrometry has historically been too costly, bulky, and cumbersome to be used outside of the laboratory, the simple-to-use interface and auto-calibration process of the TRACER 1000 make it easy to use for rank-and-file checkpoint or other security personnel, at a fraction of the cost of traditional mass spectrometers.

About Astrotech 

Astrotech is an innovative science and technology company that invents, acquires, and commercializes technological innovations while building scalable companies to maximize shareholder value. 1st Detect develops, manufactures, and sells trace detectors for use in the security and detection market. For more 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, the adverse impact of inflationary pressures, including significant increases in fuel costs, global economic conditions and events related to these conditions, including the ongoing wars in Ukraine and the middle east and the COVID-19 pandemic, the Company’s use of proceeds from the common stock offerings, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, whether the market will accept our products and services and whether we are successful in identifying, completing and integrating acquisitions, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the Company’s most recent Annual Report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. While we do not intend to directly harvest, manufacture, distribute or sell cannabis or cannabis products, we may be detrimentally affected by a change in enforcement by federal or state governments and we may be subject to additional risks in connection with the evolving regulatory area and associated uncertainties. Any such effects may give rise to risks and uncertainties that are currently unknown or amplify others mentioned herein. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. 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 correct or update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.