Astrotech Co.

Astrotech has submitted a proposal under NASA’s CLPS2 program requesting about $20 million for Phase 1 to demonstrate technologies for lunar mining and processing. The requested amount is roughly in line with a market capitalization of about $20.43 million; the stock has risen sharply by 252% year-to-date. CLPS2 can include contracts with a total budget of up to $10 billion, but selection or funding by NASA is not guaranteed. Astrotech warns of rapid cash burn and plans further grant applications, while its roadmap evaluates technologies such as oxygen production, silicon-28 manufacturing and solar-electric power on the moon. » More on de.investing.com

Astrotech announced a board-approved strategic initiative to develop lunar resources, build an autonomous lunar industrial infrastructure and pursue business areas such as advanced computing and semiconductor manufacturing. The announcement drove the stock sharply higher intraday (midday rise around +547%, daily high $19.75), aided by a low free float. Additional catalysts were an ECAC/EU G1 certification for 1st Detect’s TRACER 1000 and the market launch of the portable gas chromatograph Labrador HH-GC by EN-SCAN, which amplified the short-term volatility in the share price. » More on de.investing.com

EN-SCAN, a subsidiary of Astrotech, has introduced the Labrador HH-GC, a mobile gas chromatograph for on-site analysis of volatile organic compounds (VOCs) in air, water and soil with ppb sensitivity and roughly three minutes analysis time. The system uses gas chromatography with a photoionization detector (PID) and is aimed at environmental consultants, remediation firms, industrial users and regulators for site investigations, groundwater screening and occupational hygiene monitoring. EN-SCAN offers training, method development, calibration and support; the unit comes with a one-year warranty and is available immediately. The product launch comes despite financial strain at parent company Astrotech, whose stock has fallen sharply over the past year and which has negative free cash flow. » More on de.investing.com