AUSTIN, Texas, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) subsidiary, AgLAB, Inc. (AgLAB), today announced the launch of the AgLAB-1000-D2™ and the Maximum Value Processing™ (D2-MVP) control system. D2-MVP is a ruggedized mass-spectrometer that is designed for the cannabis and hemp processing lab and provides control over the distillation processes through “selected-point” testing of the processed oils. The D2-MVP control system has been designed to improve ending-weight yields, potencies, and revenues by as much as 45% as compared to traditional distillation methods. This technology is derivative of Astrotech subsidiary Astrotech Technologies Inc.’s (ATI) mass spectrometer technology.
“After multiple field tests, we believe the D2-MVP has demonstrated that our highly versatile ATI mass spectrometer technology can significantly improve customer processing results in many applications throughout the chemical manufacturing industry. Most process testing requires slow and cumbersome laboratory instruments that typically take many hours or even days to complete. With our rugged mass-spec and automatic calibration-tuning, the D2-MVP can be placed on the factory floor and typically produces processing results in less than a minute. This technological advancement makes it possible for the operator to perform many adjustments throughout the batch process while fine tuning for yields, color, and quality. We are very excited about introducing the D2-MVP, as we believe it is the first of its kind and is already being well received throughout the fast-growing hemp and cannabis industries,” said Thomas B. Pickens III, CEO of Astrotech and AgLAB.
About the AgLAB-1000-D2
The AgLAB-1000-D2 is the first ruggedized mass spectrometer that has been manufactured for use in assisting the chemical distillation of biomass. The chemical library and user interface can be easily customized for each processing application and is currently adapted to serve both the distillation of hemp CBD and cannabis THC oils.
This press release contains information about our new products under development, AgLAB-1000-D2 and the Maximum Value Processing™ control system. Product development involves a high degree of risk and uncertainty, and there can be no assurance that our new products will be successfully developed, achieve their intended benefits, receive full market authorization, or be commercially successful.
About Astrotech Corporation
Astrotech (Nasdaq: ASTC) is a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core technology through its wholly-owned subsidiaries. AgLAB is developing chemical analyzers for use in the agriculture market. For more information, please visit www.astrotechcorp.com.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include but are not limited to regulatory approvals required to market our products under development in the United States or abroad, whether the market will accept our products and services as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the Company’s most recent Annual Report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to correct or update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Jaime Hinojosa, Chief Financial Officer, Astrotech Corporation, (512) 485-9530