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. » Więcej na 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. » Więcej na 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. » Więcej na de.investing.com

Astrotech has received ECAC/EU G1 certification for the trace detection system 1st Detect TRACER 1000 for aviation security applications. The mass spectrometry-based system for molecular identification is intended to reduce false alarms at security checkpoints and is already deployed in 16 countries. The approval comes as the stock has lost around 53% year-on-year; analysts point to both undervaluation and, on the other hand, rapid cash burn and persistent unprofitability. » Więcej na de.investing.com

Astrotech is supporting the US Department of Homeland Security’s $1 billion program to modernize TSA equipment and plans to supply its TRACER 1000 detection systems through subsidiary 1st Detect. The stock rose sharply on the announcement, but the company has negative free cash flow and a small market capitalization. Astrotech highlights production capacity in Austin, is exploring strategic options to enhance shareholder value, and appointed Scott Bartley as interim CFO. » Więcej na de.investing.com