Astrotech's 1st Detect Wins DHS Contract for TRACER 1000
Astrotech Corporation Secures Key DHS Contract
AUSTIN, Texas — Astrotech Corporation (NASDAQ: ASTC), along with its subsidiary 1st Detect Corporation, has been awarded a pivotal research and development contract by the U.S. Department of Homeland Security (DHS). This contract aims to enhance the advances of the TRACER 1000 technology, a sophisticated explosives trace detection (ETD) system designed to combat the escalating threat of explosives in today's world.
Understanding the DHS Contract
The contract, identified as 70RSAT24CB0000015, is a part of the strategic objectives outlined in the DHS Long Range Broad Agency Announcement No. 18-01. This initiative focuses on developing improved ETD capabilities to counter the increasingly sophisticated tactics employed by those looking to evade detection.
Phased Approach to Development
The research project will be executed in two distinct phases, each lasting 15 months. The total potential value of the contract reaches an impressive $1,290,650 over the course of 30 months. The initial phase, dedicated to primary research and development efforts, holds a value of $581,639, while the second optional phase will increase the project's budget to $709,011, contingent upon the successful completion of the first phase.
Significance of the TRACER 1000
Tom Pickens, the CEO and CTO of Astrotech, expressed his enthusiasm: “The TRACER 1000 has undergone extensive evaluation by DHS, leading to this crucial R&D opportunity. We look forward to furthering our collaboration with the DHS on the future of explosive detection technology. This state-of-the-art detection system will significantly bolster efforts to ensure the safety of passengers and enhance security measures at airports and other critical infrastructures.”
About Astrotech Corporation
Astrotech Corporation, traded on NASDAQ under the ticker ASTC, specializes in mass spectrometry technology. The company is prominent in launching, managing, and commercializing cutting-edge companies that utilize its innovative core technology through its subsidiaries. 1st Detect, a proud member of the Astrotech family, focuses on the development and manufacturing of trace detection systems catering to security and detection applications.
Future Developments and Innovations
With its headquarters located in Austin, Texas, the company continues to drive innovation in the security sector. Astrotech’s commitment to research and development aims to address the existing gaps in detection technology, ensuring safety and security across various domains.
Frequently Asked Questions
1. What is the purpose of the DHS contract awarded to 1st Detect?
The contract aims to enhance the TRACER 1000 technology for explosives trace detection, addressing evolving threats.
2. How much is the contract worth?
The total potential value of the contract is $1,290,650 over 30 months.
3. What are the phases involved in the contract?
The project consists of two phases, each lasting 15 months, with the first phase valued at $581,639.
4. Who is the CEO of Astrotech Corporation?
Tom Pickens is the CEO and CTO of Astrotech Corporation.
5. Where is Astrotech Corporation headquartered?
Astrotech Corporation is headquartered in Austin, Texas.
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