Astrotech Corporation Secures Government Contract for Homeland Security Project

Astrotech Corporation (NASDAQ: ASTC) made a significant announcement on January 14, 2025. The company’s wholly-owned subsidiary, 1st Detect Corporation, stated that Astrotech has been awarded a research and development contract (70RSAT24CB0000015) with the U.S. Department of Homeland Security (DHS). This agreement is set to focus on the research, development, and advancement of the TRACER 1000 for DHS’ next-generation explosives trace detection.

The news was officially disclosed through a press release issued by Astrotech Corporation and 1st Detect Corporation. The press release further shared details about the contract and the scope of the project. This communication was submitted as Exhibit 99.1 in Astrotech Corporation’s Current Report on Form 8-K.

It’s important to note that the information provided under Item 7.01 Regulation FD Disclosure in the Form 8-K, along with the attached Exhibit 99.1, while being disclosed to the public, is categorized as furnished material and not intended to be treated as “filed” for the Securities Exchange Act of 1934. As such, it does not subject the company to the liabilities of this section and is not to be included or incorporated by reference into any filings under the Securities Act of 1933 or the Exchange Act unless specifically indicated for reference.

With this new contract in place, Astrotech Corporation looks forward to advancing its capabilities in the realm of explosives trace detection technologies. The company continues to position itself as a key player in the industry, showcasing ongoing dedication to research and innovation within the homeland security sector.

Astrotech Corporation included the necessary details and Exhibit 99.1 in its Form 8-K filing to ensure transparency and compliance with reporting requirements. Further updates on the progression of this project and its potential impact on the company’s operations may follow in the near future.

Worth noting is that the details of the attached Exhibit 99.1 were not provided in the above document concerning Astrotech Corporation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Astrotech’s 8K filing here.

Astrotech Company Profile

Astrotech Corporation operates as a mass spectrometry company worldwide. It owns and licenses the intellectual property related to the Astrotech Mass Spectrometer Technology, a platform mass spectrometry technology. The company also develops TRACER 1000, a mass spectrometer-based explosive trace detector to replace the explosives trace detectors used at airports, cargo and other secured facilities, and borders.