Advance Nanotech, Inc., announced
today that its Owlstone Nanotech Inc. subsidiary,
which in October 2007 was awarded a three year $3.7 million contract by
the United States Defense Threat Reduction Agency, has received a
modification accelerating its delivery of chemical sensor products. The
Company anticipates booking revenues of $2.25 million from this
contract in 2008, an increase in revenues of $1.4 million from the
initial plan. The contract is meeting specific performance targets
under the initial terms with the customer, and the proprietary Owlstone
technology is meeting previously established benchmark objectives,
indicating progress has been achieved.
The Department of Defense contract requires Owlstone to
develop, design and fabricate a miniaturized chemical detector using a
Field Asymmetric Ion Mobility Spectrometer ("FAIMS") capable of
detecting chemicals below or immediately dangerous to life or health
concentrations levels. Initially, Owlstone will proceed with a live
agent test program of the FAIMS sensor technology for in-field
applications. The focus of the program will be the micro-systems
development and integration to yield a sensor with a low ancillary
systems (pneumatic and electronic) footprint. The final stage of this
contract will be to deliver sensitive, low-false-positive explosive
detection capabilities with optimized sensor packaging for field
deployable scenarios.
Owlstone's proprietary FAIMS technology offers the flexibility
to provide rapid alerts and detailed sample analysis with reduced flow
and improved ion drive over current conventional technology. The
performances of existing systems, which largely use conventional Ion
Mobility Spectrometry, worsen dramatically as they are reduced in size.
By contrast, the Owlstone FAIMS solution has improved sensitivity,
improved selectivity at reduced power as it is miniaturized. It is not
only a sensor, but a highly integrated system with the necessary
electronic and mechanical components squeezed into a compact footprint.
Micro and nano-fabrication techniques enable the detector to be
manufactured in a massively parallel fashion, achieving small form
factor, economy of scale and reduced unit cost. Unlike alternate
miniature detectors, Owlstone's technology does not rely on exotic
materials, custom engineered for each application, which often degrade
over time. It is easily customized to each application through software
updates and can be dynamically reprogrammed for new chemicals even
after deployment. Use of chemically inert materials ensures a long
operational and storage life.
The Defense Threat Reduction Agency ("DTRA") is the Department
of Defense's intellectual, technical and operational leader for DoD and
U.S. Strategic Command in the global effort to combat weapons of mass
destruction. Founded in 1998, the agency headquarters is located in
Fort Belvoir, Virginia and employs 2,000 men and women, both military
and civilian at more than 14 locations around the world. Weapons of
mass destruction can be chemical, biological, nuclear, radiological or
high-explosive. DTRA is the "go-to" agency in the Department of Defense
to counter these weapons. DTRA safeguards America and its allies from
Weapons of Mass Destruction by providing capabilities to reduce,
eliminate, and counter the threat, and mitigate its effects.