Astrotech Launches a New Subsidiary and a New Line of Products
September 20 2019 - 6:00AM
Business Wire
Agriculture Technology Corporation
AG-LAB-1000™
Astrotech Corporation (NASDAQ: ASTC) has created a new
subsidiary company, Agriculture Technology Corporation (AG-TECH),
in response to a growing number of inquiries from the agriculture
industry requiring detection of trace levels of harmful pesticides
in agricultural products. The mass-spec technology that is
currently owned by the Astrotech subsidiary, Astrotech Technology
Inc. (ATI), is ideally suited for these applications and the
“Agriculture” field of use has now been licensed to the Agriculture
Technology Corporation (AG-TECH), a wholly owned subsidiary of
Astrotech Corporation.
With the recent passing of the U.S. Farm Bill, (H.R. 2, 115th)
and the increasing number of U.S. states and countries that are
legalizing hemp and cannabis, pesticide regulations have become
increasingly important worldwide. AG-TECH has been working with
industry farmers, manufacturers, and laboratories in the
development of its AG-LAB-1000™ series of mass spectrometers that
are being designed for agriculture applications in the field that
detect trace levels (ppb) of pesticides or that require the
quantification of cannabinoids and terpenes as low as parts per
trillion (ppt).
“The Astrotech mass-spec technology has numerous applications in
many diverse industries, and we have now found an immediate need in
the agriculture markets that have highly regulated pesticide
requirements,” stated Thomas B. Pickens III, Chairman and Chief
Executive Officer of Astrotech Corporation. “Our new AG-LAB-1000™
series of GC/MS/MS mass-specs are ideally suited for those
applications that need rugged but highly sensitive field
instruments that are easy to operate. We are very excited about our
pesticide detection series of products that will soon be providing
large savings for farmers and manufacturers worldwide.”
AG-TECH has also launched a new website for its new line of
products at www.aglab.com.
About Astrotech Corporation
Astrotech (NASDAQ: ASTC) is a science and technology development
and commercialization company that launches, manages, and builds
scalable companies based on innovative technology that are designed
to maximize shareholder value. Astrotech headquarters are in
Austin, Texas. For information, please visit
www.astrotechcorp.com.
Agriculture Technology Corporation designs, manufactures, and
sells mass spectrometers for agriculture applications including the
detection of trace levels of harmful pesticides. AG-TECH is
headquartered in Austin, Texas. For more information, please visit
www.aglab.com.
This press release contains forward-looking statements that are
made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that
could cause actual results to be materially different from the
forward-looking statement. These factors include, but are not
limited to, whether we can successfully develop our proprietary
technologies and whether the market will accept our products and
services, as well as other risk factors and business considerations
described in the Company’s Securities and Exchange Commission
filings including the annual report on Form 10-K. Any
forward-looking statements in this document should be evaluated in
light of these important risk factors. The Company assumes no
obligation to update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190920005073/en/
Eric Stober, Chief Financial Officer, Astrotech Corporation,
(512) 485-9530
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