Company Announcements

Astrotech Announces Listing to the GSA as an Approved United States Government Vendor

AUSTIN, Texas, April 08, 2024 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) ("Astrotech" or the "Company") and its wholly owned subsidiary, 1^st Detect Corporation (1^st Detect), announce that 1^st Detect’s TRACER 1000^TM is now listed in the U.S. General Services Administration (GSA) IT Schedule 70 under Contract No. GS-35F-250GA with SRI Group LLC, Special Item Number 334290.   IT Schedule 70 is a long-term contract issued by the GSA to commercial technology vendors that allows sales to the U. S. federal government, one of the largest buyers of goods and services in the world. GSA’s thorough evaluation determined that 1^st Detect’s pricing is fair and reasonable, that 1^st Detect had the requisite capabilities, organizational structure, customer satisfaction and performance history, and that the offered products and services are compliant with applicable laws and regulations.

1^st Detect’s TRACER 1000 is a high-performance laboratory instrument of ruggedized mass spectrometry as applied to Explosives Trace Detection (ETD) and Narcotics Trace Detection (NTD). The TRACER 1000 maintains the accuracy of much larger mass spectrometers even though it is only the size of a desktop printer. 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.

The Astrotech Mass Spectrometer Technology™ drives the breakthrough TRACER 1000, as the first certified ETD to employ mass spectrometry. We believe the TRACER 1000 is inexpensive, small, and easy to use, with high resolution and near-zero false alarms. The TRACER 1000 is the only mass spectrometry-based ETD to have received European Civil Aviation Conference certification for both checkpoint and cargo security.

1^st Detect has engaged with SRI Group LLC, a distinguished GSA provider led by retired Deputy Administrator of the Transportation Security Administration (TSA) John Halinski. He brings extensive knowledge and expertise in international aviation security, intelligence and counterterrorism. He is a member of the Board of Editors for the Government Technology Services Coalition’s magazine and media platform, Homeland Security Today, and is passionate about improving security and implementing the best practices and training procedures to achieve this. SRI Group LLC is a service disabled veteran owned small business, SDVOSB.

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. Astrotech is headquartered in Austin, Texas. For more information, please visit www.astrotechcorp.com.

Forward-Looking Statements
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.