Business Services Industry
Department of Energy Selects View Systems, Inc. as Industry Partner for Joint U.S./Russia Project
Business Wire, July 22, 2002
Business Editors
BALTIMORE--(BUSINESS WIRE)--July 22, 2002
International Program to Keep View Systems' Future Products
Competitive
View Systems, Inc. (OTCBB:VYST - News), a premier provider of specialized products for the security and surveillance industries, today announced that the U.S. Department of Energy has selected the company as its industry partner for a joint U.S. and Russia project called The Initiatives for Proliferation Prevention Program (IPPP) to enhance U.S. national security.
View Systems currently has the most advanced weapons detection technology in the world and will work with IPPP Russian scientists to further develop future threat detection technology for the global marketplace, based on View Systems' s SecureScan(TM) Concealed Weapons Detection System.
Funded through the U.S. Department of Energy (DOE), the cooperative IPPP program is designed to enhance U.S. national security and nonproliferation objectives by cooperatively engaging former Soviet weapons scientists, engineers and technicians involved with weapons of mass destruction, or underlying technologies, on non-weapons related projects,
"This new program fits precisely with our intermediate-term technology sourcing strategy and will help SecureScan remain competitive in the future," said Paul Reep, president and chief operating officer of View Systems, Inc. "The Department of Energy has significant and demonstrated technological capability. Combining their strengths with a counterpart entity in Russia creates a technology engine for View Systems that is unmatched in the world today."
While several other U.S. Government initiatives are also aimed at preventing weapons of mass destruction proliferation, the IPPP program has a unique approach. It seeks to create a phased process to move beyond cooperative research and development to eventually form commercial partnerships between U.S. industry and the former Soviet facilities.
Two entities are used to pursue commercialization: The Inter-Laboratory Board (ILAB), made up of members from ten of the DOE National Laboratories, initiates contacts with the New Independent States (NIS) institutes of the former Soviet Union and performs capabilities evaluations and technology assessments.
The United States Industry Coalition (USIC), comprised of participating U.S. companies, evaluates commercial potential of the proposed projects. USIC promotes those that have the potential to be cost effective to implement, that are attractive to investors, and would be commercially viable. View Systems has also been invited to be a member of USIC.
About The Initiatives for Proliferation Prevention Program (IPPP)
The Initiatives for Proliferation Prevention Program, funded through the U.S. Department of Energy (DOE), is a cooperative program designed to enhance U.S. national security and nonproliferation objectives by cooperatively engaging former Soviet weapons scientist, engineers and technicians currently or formerly involved with weapons of mass destruction (or underlying technologies) on non-weapons related projects; as well as identifying and creating non-military commercial opportunities for former Soviet weapons of mass destruction related technologies.
A population of 60,000 former key Soviet weapons scientists, engineers, and technicians have been subject to sharp government funding cutbacks at their research institutes since the demise of the Soviet Union. Since program inception in 1994, institute-by-institute and scientist-by-scientist, the Initiatives for Proliferation Prevention program has engaged 10,874 NIS scientists, engineers and technicians: 5,372 engaged in currently active projects (an increase of almost 2000 from FY1999).
About View Systems, Inc.
View Systems, Inc. (OTCBB:VYST) is a premier provider of specialized products for the security and surveillance industries, providing unparalleled protection to customers worldwide. The company offers weapons detection and surveillance products for security and law enforcement professionals, military, government agencies, schools and universities, event and sport venues, corporations, commercial businesses and residential customers. Core to these products are the company's expertise in digital video/image processing, facial and other biometric verification technologies, as well as system integration, electronic packaging and assembly.
The company's flagship product is the SecureScan Concealed Weapons Detection System that incorporates a safe, sensing technology with video and image recognition capabilities. This award-winning product uses a walk-through portal that can detect and accurately pinpoint the location, size and number of concealed weapons, such as knives, box cutters and guns, while allowing personal items like pocket change, keys, pens to pass without alarming the system, greatly improving security checkpoint screening efficiency.
View Systems is headquartered at 1100 Wilso Drive, Baltimore, MD 21223; Tel: 410.646.3000; Fax: 410. 646.0987 and at www.viewsystems.com. The company's channel management includes an extensive network of resellers, OEMs, dealers, product representatives, licensees and strategic alliance affiliates worldwide.
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