Astrotech Corp (NASDAQ:ASTC) reported that following a promising demonstration with Transportation Security Administration (TSA) and Department of Homeland Security (DHS) staff, 1st Detect – TRACER 1000 MS-ETD will be demonstrated at company’s yearly meeting of shareholders, scheduled on December 7, 2017.
The TRACER 1000 marks as a mass spectrometry-based ETD, custom-advanced for the Transportation Security Administration as a replacement for and an improvement over the ion mobility spectrometry ETD systems presently deployed at aviation checkpoints globally. These antiquated IMS setups have several shortcomings, particularly their limited collection of detectable compounds, incapability to adapt to developing threats, and major false positive rates that lengthen security wait times. The TRACER 1000 faces all of these problems, and also offers significant enhancements.
It notably expands list of narcotics, explosives and other compounds of interest. Targets library that can be rapidly expanded or updated in the segment without needing hardware configuration changes. The product enhanced passenger satisfaction following better throughput at checkpoints.
Thomas B. Pickens III, the CEO of Astrotech and 1st Detect, expressed that they consider the TRACER 1000 will resolve the TSA’s future and current ETD needs, and they are thrilled to start checking with the DHS’s Transportation Security Laboratory in the imminent weeks. The TRACER 1000 will considerably augment airport security by facing the challenges the TSA has with existing IMS-based ETD systems. Its demonstration at company’s annual meeting will highlight the results of several years of investment, numerous technological breakthroughs and dedicated hard work to improve nation’s security.
Astrotech marks as an innovative technology and science firm that acquires, commercializes and invents technological innovations obtained from research institutions, universities, laboratories, internally, and then manages, builds and funds proprietary, scalable start-up firms for profitable divestiture to commercialize pioneers to maximize shareholder value.
In the last trading session, the stock price of Astrotech jumped more than 62% to close the day at $4.64.