Implant Sciences Corp. (OTCPK:IMSC) is looking to expand the markets where its Quantum Sniffer explosive and narcotics detectors are deployed, as the company continues to pursue and win key contracts.
Founded in 1984, Implant Sciences Corp. develops and commercializes explosives and narcotics trace detection solutions for transportation and aviation security, force protection, law enforcement, critical infrastructure protection, and public safety markets.
The company successfully introduced its first handheld explosive trace detection product in 2003 and has sold over 1,500 systems to more than 30 countries around the world, generating over $25 million in revenues. Homeland Security Research Corporation estimates that the global explosives trace detection market including equipment, services, and supplies will to grow to approximately $1 billion by 2015.
Speaking to Proactive Investors, Implant Sciences' VP of Technology, Todd Silvestri said: "We are seeing numerous markets around the world that can be pursued given the capabilities of the equipment." Indeed, Implant Sciences' Quantum Sniffer devices were recently deployed in Colombia at the Summit of the Americas, where they were used by security staff at the venue's cargo, press and main entrances.
Leveraging its patented technology, Implant Sciences' Quantum Sniffer QS-H150 handheld explosives trace detector is in use throughout the world. Implant Sciences also manufactures and sells the Quantum Sniffer QS-B220 bench-top which, with its small footprint, is well-suited for crowded security checkpoints, whether for passengers, baggage, or air cargo.
Implant Sciences' products employ Ion Mobility Spectrometry technology to detect trace explosives, incorporating the company's patented non-radioactive ionization technology and fully automatic self-calibration. Devices containing radioactive materials are subject to many regulations that require licensing, testing, shipping, and specialized disposal. Implant Sciences' Todd Silvestri said that in his experience, when confronted with a choice of detection devices with radioactive or non-radioactive components, "...many clients prefer the non-radioactive solution".
Quantum sniffers are currently in use in locations as diverse as airports and subways in China, ports in California, ferry ships in Massachusetts, and at Turkey's Istanbul Stock Exchange. In March, Implant Sciences also announced that it shipped additional units of its QS-H150 portable explosives detector to be deployed in the U.K., Taiwan and India.
But these are not the only places where Implant Sciences' equipment is deployed.
Brad Chase, Implant Sciences' Marketing Director said: "We see increased use of our equipment by corporations, for example, to secure headquarter facilities. Other business users include banks, hotels, and manufacturing plants. They all have identified a need to detect explosives entering their facilities."
Implant Sciences is currently seeking certification from the Department of Homeland Security's Transportation Security Administration to add the QS-B220 to the Air Cargo Screening Technology List. This certification would allow the B220 Quantum Sniffer to be used in meeting the mandate to screen 100% of air cargo bound for U.S. airports.
Governments around the world are experiencing a wave of austerity spending measures; however Implant Sciences is confident that sales will continue. Brad Chase commented "The problem of terrorism isn't going away. We don't see orders getting cancelled, just postponed or deferred."
But Implant Sciences isn't limiting itself to what it can do today.
"We continue to focus on increasing the number of threats we can detect and improving our systems sensitivities to those threats. We added narcotics detection with the QS-B220, which opens many new markets for us. We strive to continuously improve our capabilities to stay ahead of the potential threats which may be perpetrated," Implant Sciences' Todd Silvestri said.