Cannington-based QRSciences Ltd associated company Spectrum San Diego Inc will negotiate with the US Transportation Security Administration for the manufacture of its Castscope screening system - used to screen heavy bandages and prosthetic limbs.
Cannington-based security technology group QRSciences Ltd associated company Spectrum San Diego Inc has entered into negotiations with the US Transportation Security Administration for the manufacture of its Castscope screening system - used to screen heavy bandages and prosthetic limbs.
The TSA has reviewed CastScope for feasibility, effectiveness, safety and civil liberty concerns, and is currently in the process of operational pilots scheduled at four airports in the US.
The CastScope pilot began on 25 April 2007 at San José International Airport, and will extend to Tampa International Airport, Nashville International Airport and Washington D.C. Reagan National Airport over the course of May and June 2007.
The full text of a company announcement is pasted below
Further to the announcement dated 26 April 2007, and as announced by the US Government on 11 May 2007, QRSciences (ASX:QRS) (QRSNY:PK) is pleased to announce that its 24.4%-owned associate, Spectrum San Diego, Inc. (Spectrum), has entered into contractual negotiations with the Transportation Security Administration (TSA) for the manufacture, deployment and maintenance of the CastScope screening system at US airports. In its announcement the TSA stated that it anticipates a 36-month period of performance with options for maintenance support.
CastScope is a portable device utilising backscatter X-ray technology to screen casts, support braces, heavy bandages and prosthetic limbs, allowing quick and non-invasive identification of prohibited items or potential security threats.
The TSA has reviewed CastScope for feasibility, effectiveness, safety and civil liberty concerns, and is currently in the process of operational pilots scheduled at four airports in the US. The CastScope pilot began on 25 April 2007 at San José International Airport, and will extend to Tampa International Airport, Nashville International Airport and Washington D.C. Reagan National Airport over the course of May and June 2007.
"This is a pivotal moment for Spectrum and CastScope, as the interest from the TSA translates into the first significant commercial sales of the product. We congratulate their team for several years of hard work," said QRSciences' CEO Mr. Kevin Russeth.
"We are confident that this is just the first step in satisfying a significant global addressable market for the CastScope screening system, including both airport and non-airport applications, such as prisons and courthouses. There are approximately 700 carry-on checkpoints and 2000 checkpoint lanes at airports in the US that are under the purview of the TSA."
QRSciences currently owns 24.4% of Spectrum, and has an agreement in place to acquire up to 27.4% through a sequence of cash and equity payments amounting to US$2.6 million. QRSciences' final payment is scheduled for early June 2007. In addition, QRSciences has an option to acquire all of Spectrum's outstanding stock on or before 18 February 2009.
For more information about the TSA pilot program and contract specifications, please visit www.tsa.gov/approach/tech/castscope.shtm and www.fbo.gov/spg/DHS/TSA/HQTSA/HSTS04-07-R-DEP123/listing.html .
