ATLANTA, GA, Jan. 08, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (NASDAQ: STAI, or ScanTech AI), a security solution provider offering one of the world's most advanced non-intrusive "fixed-gantry" CT screening technologies, announced today, following its successful merger with ScanTech Identification Beam Systems, LLC, that it now seeks to become a leading security solution provider for U.S. and global airport, cargo, homeland, and border security screening.
ScanTech AI is a leading innovator of next generation Computed Tomography (CT) security solutions for use at airport and commercial security lanes, border and public event checkpoints, and cargo and parcel screening centers. ScanTech AI's scanners are already protecting two of Canada's largest nuclear power plants, and following its listing on NASDAQ, the company is well-positioned to pursue significant growth opportunities across multiple sectors, leveraging its competitive edge afforded by patented and proprietary screening technology. ScanTech AI scanners look very much like existing checkpoint and parcel scanners and offer advanced CT detection and material discrimination without the moving parts, maintenance issues, or high costs of traditional CT scanners. Lower acquisition and maintenance costs, the prospect of significantly speeding up checkpoints and screening centers, AI-driven machine learning, and the ability to leave liquids, electronics, and other items inside bags and containers are all central selling points for ScanTech AI screening systems.
"In summary, our CT scanning systems detect a world-class variety of threats and items of interest with great accuracy and reliability, all with industry leading throughput and minimal maintenance downtime," said Rocky Starns, former Westinghouse and Renishaw plc executive, and ScanTech AI's founding Chief Technology Officer. "Our scanners can instantly and automatically detect explosives, drugs and other hazardous materials, reducing the potential for human error and providing law enforcement, first responders, and security personnel more time to assess and deal with any potential threat."
ScanTech AI's Chairman Karl Brenza added, "As ScanTech AI embarks on the next phase of its growth strategy as a public AI-driven technology company, I am thrilled to be partnering with Mr. Falconer and his team as we accelerate our impact in the security solutions market. ScanTech AI's funding options have expanded as a public company, which will help drive growth and the execution of its commercial sales strategy."
"Following our major order from the nuclear utility industry last year, we are proud to protect critical infrastructure such as nuclear power facilities in Canada, and we are actively pursuing opportunities to expand our footprint," said CEO Dolan Falconer. "As we continue to innovate, we see significant potential in deploying our CT scanners to detect items people are bringing or shipping into the United States at our borders." Mr. Falconer added, "Our focus is on developing and manufacturing screening solutions that make our country and this world a safer place to live, and we are proud the public can now join us on this most important path. It's time to go long on defending peace and liberty, both at home and abroad."
About ScanTech AI Systems Inc.
ScanTech AI has developed one of the world's most advanced non-intrusive 'Fixed-Gantry' CT screening technologies. and utilizes proprietary Artificial Intelligence (AI) and machine learning capabilities to accurately and quickly detect hazardous materials and contraband. ScanTech AI's screening solutions are engineered to automatically locate, discriminate, and identify threat materials and items of interest at checkpoints in airports, seaports, borders, embassies, corporate headquarters, government & commercial buildings, factories, processing plants, and other facilities where terrorism and prohibited items are a possibility. Whether explosives or contraband, ScanTech AI's 'Fixed-Gantry' CT scanners can detect, identify, precisely locate, and discriminate materials of interest hidden inside scanned targets. From suitcases, briefcases, and backpacks to large packages, and parcels, ScanTech AI has a non-intrusive inspection solution to meet the requirements of a broad range of critical infrastructure industries.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended ("Exchange Act"), including statements regarding ScanTech AI's management team's expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including possible business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Additionally, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "expand," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on the current expectations and beliefs made by the management of ScanTech AI, in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effect on ScanTech AI, as well as other factors they believe are appropriate under the circumstances. There can be no assurance that future developments affecting ScanTech AI will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including product and service acceptance, regulatory oversights, research and development success, and that ScanTech AI will have sufficient capital to operate as anticipated. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the filings of ScanTech AI (and its predecessor, Mars) with the SEC, and in the current and periodic reports filed or furnished by ScanTech AI (and its predecessor, Mars) from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on the information available to ScanTech AI as of the date hereof, and ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable securities laws.
Contact Information:
ScanTech AI Systems Inc.
Dolan Falconer, CEO
dfalconer@scantechibs.com
Investor & Media Relations Contact
International Elite Capital Inc.
Annabelle Zhang
+1(646) 866-7928
annabelle@iecapitalusa.com
