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Sense Holdings Announces Completion of Phase One of CRADA for Detection of Explosives and Chemical Weapons
Business Wire, August 10, 2006
FORT LAUDERDALE, Fla. -- Phase Two to Include Accelerated Selectivity and Signature Analysis for Advanced Portable MEMS-Based Explosives Detectors
Sense Holdings, Inc. (OTCBB:SEHO) (FWB:OUP), a developer of next-generation biometric and explosive detection security technologies for government and commercial security markets, announced today the Completion of Phase One of a nine month CRADA with Oak Ridge National Laboratory to develop and optimize a complete line of advanced handheld detectors for explosives and other dangerous threats to address various needs in the global homeland security marketplace.
Phase Two of the Cooperative Research and Development Agreement (CRADA) follows the recent successful completion of the first-generation demonstrator of Sense's planned low-cost and portable explosives detector devices. Under the terms of the new and expanded CRADA, the explosive detection device will be further developed at ORNL to provide even greater explosives sensing efficiency, optimization and performance.
"Sense accomplished a critical business milestone and strategic initiative recently by bringing our groundbreaking MEMS-based detection technology out of the laboratory, and providing proof that the technology performs as anticipated in demonstrations," said Dore Perler, Chief Executive Officer of Sense.
The powerful handheld detection device is based on the Company's cutting-edge Micro Electro-Mechanical Systems (MEMS) technology platform, which could provide airports, homeland security agencies, corporate America and other customers with superior detection of TNT, PETN, RDX and a wide array of other explosives and/or dangerous substances at a fraction of current costs.
Sense is the sole commercialization partner with exclusive rights for the manufacture, sale and distribution of MEMS-based handheld devices. The technology to date has been funded by several government agencies, such as the Department of Energy (DOE); Alcohol, Tobacco, and Firearms (ATF); Federal Aviation Administration (FAA); Transportation Security Administration (TSA), and others.
Sense is developing its line of detection products in partnership with the Oak Ridge National Laboratory in Oak Ridge, TN, which is operated by the US Department of Energy (DOE).
About ORNL
ORNL is a multi-program science and technology laboratory managed for the U.S. Department of Energy by UT-Battelle, LLC. Scientists and engineers at ORNL conduct basic and applied research and development to create scientific knowledge and technological solutions that strengthen the nation's leadership in key areas of science; increase the availability of clean, abundant energy; restore and protect the environment; and contribute to national security. ORNL also performs other work for the Department of Energy, including isotope production, information management, and technical program management, and provides research and technical assistance to other organizations.
About Sense Holdings, Inc.
Sense Holdings is a developer of next-generation biometric identification systems, and nanotechnology-based micro-sensor technologies for government, military and commercial security marketplaces. The Company's wholly-owned subsidiary, Sense Technologies, deploys proprietary biometric technology based on advanced fingerprint technology and biometric integration to create a range of solutions for prisoner identification, time and attendance, access control applications and other markets. Sense's major customers include the U.S. Army, the U.S. Department of Corrections, American Airlines and others. A second wholly-owned subsidiary, MSTI, is an emerging nanotechnology-based explosives detection technology development division developing a pipeline of advanced bomb detection technologies, including a prototype handheld explosive detection wand device for Homeland Security applications in airports and other security checkpoints. This hand-held detection alternative is designed to be a cost-effective solution with extremely high detection sensitivity and real-time operability. Currently, a proof-of-principle prototype is undergoing further research and development at the U.S. Oak Ridge National Laboratory. For investor-specific information about Sense Holdings, including recent share price data and news announcements, please visit http://www.trilogy-capital.com/tcp/sense. To view or download an Investor Fact Sheet about the Company, please visit http://www.trilogy-capital.com/tcp/sense/factsheet.html. Sense is also listed on the Frankfurt Stock Exchange under the ticker symbol, OUP. For other information, please visit http://www.senseme.com.
Cautionary Statement
This presentation includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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