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This press release was originally distributed via the eWire press wire service (2002–2016). It is preserved here as a historical record.
Invision Technologies, Inc. Announces $445,300 in Purchases of Quantum Magnetics' Newly Developed Imaging Weapons Detector Systems
ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.
Invision Technologies, Inc. Announces $445,300 in Purchases
of Quantum Magnetics' Newly Developed Imaging Weapons Detector Systems
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FOR IMMEDIATE RELEASE
Invision Technologies, Inc. Announces $445,300 in Purchases
of Quantum Magnetics' Newly Developed Imaging Weapons Detector Systems
SAN DIEGO, CALIFORNIA, Nov. 30 -/E-Wire/-- InVision Technologies, Inc. (Nasdaq: INVN) today announced that the Federal Aviation Administration (FAA) purchased several i-Portal⢠100 imaging detection systems for concealed weapons for installation at undisclosed locations throughout the country from the company's wholly owned subsidiary Quantum Magnetics, Inc. This purchase, in addition to recent orders of portal hardware from Milestone Technology, Inc., an Idaho-based technology development company, total $445,300 in sales for newly commercialized weapons detection systems.
The i-Portal⢠100 system was recently awarded the 2001 Aviation Security International Award of Excellence in the Aviation Security Technology category at AVSEC World 2001 in Atlanta, Georgia. The weapons detection system displays threats, such as guns and knives, as colored dots superimposed on a digital image of each traveler passing through the system's sensors. The precise location or locations of weapons on passengers are displayed on a computer screen, which allows for rapid secondary inspection of passengers. Independent tests estimated that use of the i-Portal⢠100 system decreases the time required to scan passengers during secondary screenings by up to 50 percent and increases the accuracy and thoroughness of follow-on searches. The system also stores each person's image (showing possible alarms), which could enable authorities to review passenger screenings at a later time. (More product information is available from Quantum's web site: http://www.qm.com.)
Quantum Magnetics' President and Chief Executive Officer, Lowell Burnett, Ph.D., said, "This order from the Federal Aviation Administration is an important milestone for the company. Quantum Magnetics commercialized the i-Portal⢠100 system only in August of this year, after devoting substantial resources to the project. The tragedy of September 11th has highlighted the need for deployment of advanced, yet easy to use, security technology and security procedures. The i-Portal⢠100 system, with its image-based screening process, fits these requirements."
InVision Technologies, Quantum Magnetics' parent company headquartered in Newark, CA, is an established world leader in supplying explosives detection systems for aviation security domestically and abroad. InVision's President and Chief Executive Officer, Sergio Magistri, Ph.D., said, "We are pleased to have received these substantial orders from the FAA and Milestone Technology for the i-Portal⢠100 system. It is gratifying to witness the i-Portal⢠100 system's evolution to the actual product stage as an important screening tool at this time when the nation's airlines and travelers are so deeply concerned with air safety. In addition to aviation security, this weapons detection technology could be used for screening purposes in all public buildings, as evidenced by Milestone's recent purchases for several units."
The i-PortalTM 100 uses SecureScan 2000TM software, developed by the Idaho National Engineering and Environmental Laboratory (INEEL) with National Institute of Justice funding and licensed from Milestone Technology, Inc. (an Idaho company). Quantum developed the sensors for INEEL, which are also used in a portal designed for entry point screening for public buildings that is sold by Milestone Technology. Under a manufacturing agreement with Milestone Technology, Quantum manufactures hardware as the Original Equipment Manufacturer (OEM) of the portals sold by Milestone. Both the i-Portal and SecureScan 2000⢠detection systems display concealed threats, such as guns and knives, as colored dots superimposed on digital images of each person passing through the systems' sensors.
Paul Reep, CEO of Milestone Technology, said, "This product is the result of a significant effort between the private sector and several government agencies to develop a concealed weapons detection system that is dramatically different from the conventional walk-through metal detector. These new systems embody significant new technologies that are designed to meet the most demanding security requirements. Our customers are very sincere about restoring confidence among their clients who have become increasingly anxious about the increased need for effective security."
Founded in 1987, Quantum became a wholly owned subsidiary of InVision Technologies in 1997. The company's intellectual property portfolio includes more than 12 U.S. and foreign patents and patent filings related to its magnetic resonance (MR), quadrupole resonance (QR) and magnetic tensor gradiometry (MTG) technology. Quantum develops and commercializes promising technologies based on these technologies in addition to low-cost magnetic resonance imaging (MRI). Through government funded research and development programs, the company uses its technologies to solve problems in landmine detection, bomb detection, facility and aviation security, drug and concealed weapon detection, process control and nondestructive evaluation.
In recent years, Quantum's defense and defense-related business activities have grown substantially. Principally, these activities have funded research and development (R&D;) of Quantum's core detection technologies. Although only some of Quantum's research initiatives have the potential to deliver significant returns from commercial production, the risk of significant commercial acceptance is mitigated by the fact that most of these R&D; efforts are fully funded by the federal government.
InVision Technologies develops, manufactures, markets and supports explosive detection systems based on advanced Computed Tomography (CT) technology for civil aviation security. Today, over 250 FAA-certified CTX systems have been shipped worldwide to provide the traveling public with the best security against terrorism available. The company also develops, manufactures, markets and supports CT-based systems for other applications, including wood scanning and drug detection. InVision's wholly owned subsidiary, Quantum Magnetics, develops and commercializes patented and proprietary technologies. These include, but are not limited to, Quadrupole Resonance (QR) patents licensed from the Naval Research Laboratory, that are based on state-of-the art, low-cost versions of magnetic resonance adapted for explosive detection. InVision's wholly owned subsidiary, Inovec, develops, manufactures, markets and supports scanning, optimization and control systems for the forest products industry. Today, over 600 systems have been installed in mills worldwide to produce more lumber from each log and to control product quality. Additional information about InVision can be obtained on the company's web site at http://www.invision-tech.com.
This news release contains forward-looking statements including statements regarding projected revenues and plans relating to the company's products and services. Investors are cautioned to consider the important risk factors that could cause actual results to differ materially from those in the forward-looking statements in this news release. These risk factors include risks inherent to doing business with public agencies; risks inherent to the development of new products and new applications and the acceptance and pricing of new products; and other risks detailed from time to time in the company's SEC reports, including the most recent reports on Forms 10-Q and 10-K.
i-Portal is a trademark of Quantum Magnetics, Inc.
SecureScan 2000 is a trademark of Milestone Technology, Inc.
Quantum Magnetics, Inc
http://http://www.qm.com
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