News & Events zu Astrotech Corp (ASTC)ASTCAstrotech Corp

Astrotech Expands Board to Six Directors

Astrotech announced that it has increased the size of its board of directors from five to six directors and has appointed Matt Kreps as a director of the company.

Astrotech Submits $20M Proposal to NASA

Astrotech announced that it has submitted a proposal to NASA under the agency's Commercial Lunar Payload Services 2 program. Astrotech's Phase 1 proposal seeks approximately $20M in non-dilutive NASA funding to support the initial stage of a proposed lunar technology demonstration program. The company estimates that it would seek additional NASA funding from the CLPS2 program for this initiative if fully implemented and authorized by NASA. CLPS2 is structured as a multiple-award procurement program for commercial payload delivery and related mission services, with a reported budget for all awarded contracts of up to $10B.

Astrotech Explores Sale of 1st Detect Subsidiary

Astrotech announced that its board of directors has approved a potential sale process of its 1st Detect Corporation subsidiary, developer of the TRACER 1000 mass spectrometry-based explosives and narcotics trace detection platform. The company is evaluating a potential sale to provide additional capital for the previously announced lunar mining initiative the company is committed to building. "There are rare moments when a detection platform holds regulatory validation, government-backed development support, years of field operating history, and a clearly emerging market need at the same time and we believe 1st Detect now holds all four," said Thomas Pickens III, chairman and CEO of Astrotech. "The TRACER 1000 is no longer an emerging technology. It is a field-proven, certified, next-generation ETD platform standing at the front of the industry's transition from legacy IMS to mass spectrometry. The Board believes the right path to unlock that value for shareholders, may be a sale to a strategic or financial buyer capable of accelerating commercialization and worldwide deployment."