ASTC Stock Pops - Astrotech Corporation (ASTC)

Astrotech Corporation (ASTC) stock is up this morning after the company announced an order for pre-production mini-mass spectroms. ASTC stock is higher by 20% in pre market to $0.72.
 

1st Detect Announces the Delivery of Pre-Production Mini-Mass Spectrometers to Select Customers
 

1st Detect Corporation, a subsidiary of Astrotech Corporation (Nasdaq:ASTC - News), is pleased to announce the delivery of pre-production mini-mass spectrometers to select customers for evaluation.

"After years of development, we are very proud to have leading analytical equipment vendors evaluating our mini-mass spectrometer," said Thomas B. Pickens III, Chairman of 1st Detect. "We believe 1st Detect's mini-mass spectrometer technology represents a breakthrough by delivering performance comparable to large laboratory mass spectrometers in a small and affordable instrument that can reach many applications that were never before possible. This is a major development milestone as 1st Detect is now transforming from its R&D phase to a market driven, commercially focused business enterprise."

The 1st Detect mini-mass spectrometer technology is capable of detecting trace levels of volatile compounds and has been developed for the security, industrial and research laboratory markets. We believe the technology platform is ideally suited for these applications, having been designed to provide highly accurate and rapid analysis and detection of very low concentrations of chemical compounds.

"I am extremely excited about the technology breakthroughs the 1st Detect team has innovated," added Mr. Pickens. "Our talented R&D team has spent years developing what we consider to be the best performing miniature mass spectrometer available. This product fulfills an unmet need in the chemical detection market by providing a true mini-mass spectrometer that is superior to the widely adopted ion mobility spectrometry (IMS) products."

The 1st Detect proprietary mini-mass spectrometry technology provides a broad and versatile platform that we plan to integrate with follow-on products optimized for the security and industrial markets including airports, border crossings, law enforcement, military uses, agricultural processing, refineries, chemical plants, pharmaceutical manufacturing, process control, water and wastewater treatment facilities.