Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

ICx Technologies, Inc. $261M (MarketCap) Wins Defense Threat Reduction Agency Awards Valued at up to $9.1M

|Includes: ICx Technologies (ICXT)

ICx Technologies (NASDAQ: ICXT) is a leader in the development and integration of advanced sensor technologies for homeland security, force protection, and commercial applications. Its proprietary sensors detect and identify chemical, biological, radiological, nuclear, and explosive threats. They deliver superior awareness and actionable intelligence for wide-area surveillance, intrusion detection, and facility security. Today, it announced that it has recently been awarded two advanced technology demonstration contracts by the Defense Threat Reduction Agency- the Hazard Mitigation Material and Equipment Restoration (HaMMER) and Rapid Area Sensitive Site Reconnaissance (RASR) programs. These 2 awards are valued at up to $9.1 million.

With HaMMER, ICx plans to further develop its Agentase Disclosure Spray and its ‘smart’ strippable coatings, providing the detection of the presence of chemical warfare agents on a surface and identifying their location. HaMMER is aimed at developing an integrated system of decontaminants, applications, and processes that provide a means to mitigate chemical and biological hazards. Consequently, ICx’s solution fits right into HaMMER’s program. With the information provided by the Agentase Disclosure Spray, first responders can focus their decontamination efforts and are able to immediately tell if their efforts were effective.

Under RASR, ICx will develop a semi-autonomous standoff detection system to provide rapid reconnaissance for hazardous chemicals, homemade-explosives, and radioactive materials. As part of this project, ICx will integrate standoff detection and identification technologies with semi-autonomous mapping capability for the clearing of potentially hazardous areas.
 


 



"Advanced Technology Demonstrations, or ATDs, are a critical aspect of transitioning new technologies to the warfighter," said Colin Cumming, CEO of ICx Technologies. "ICx is pleased that our technologies and integration capabilities will be employed within these two important programs and anticipate successful technology transitions because of them."

To view this article at World Market Media click on the link below: http://www.worldmarketmedia.com/779/section.aspx/1864/post/icx-technologies-inc-nasdaq-icxt-261m-marketcap-wins-defense-threat-reduction-agency-awards-valued-at-up-to-91m



Disclosure: no positions