Micro-X's Subsidiary Receives A$21.0M for Development Contract with U.S. Gov Micro-X Limited

Micro-X's Subsidiary Receives A$21.0M for Development Contract with U.S. Gov

Adelaide-based Micro-X Limited (ASX:MX1), a leader in cold cathode x-ray technology for global health and security markets, has announced that its subsidiary, Micro-X, Inc. , has been awarded an extension to its existing contract with the U. S. Department of Homeland Security to build and test fully integrated self-screening checkpoint modules in an operating airport with traveling passengers.

Key Points of the Contract Extension

The extension comprises a commitment of AUD 7. 25 million (USD 4. 88 million) for the first 18 months and a total contract extension amount that can reach up to AUD 21.

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0 million (USD 14. 0 million) over 40 months.

Micro-X's passenger stations will be tested in Transportation Security Administration (TSA) laboratories and then in one or more U. S. airports.

The contract extension will enable Micro-X to build and test fully integrated self‐screening stations in real-world US airport environments, progressively creating one self-screening station, three stations, and finally a six-station lane. They will be tested incrementally in TSA laboratories and more U. S. airports, with feedback provided by the DHS and TSA to refine and improve the end design.

The project has eight phases in total and offers milestone payments that range from AUD 3. 0 million (USD 2. 0 million) to AUD 6. 0 million (USD 4. 0 million).

Background Information on the Passenger Self Screening Project

Based on the future vision of the DHS and TSA, the Passenger Self Screening Project aims to replace the current conveyor belt design for scanning passengers' carry-on baggage with multiple self-service security stations based on the idea of self-service checkouts at supermarkets. This concept is aimed at increasing throughput, improving staff efficiency, and enhancing passenger experience. It is made possible by Micro-X's miniaturised computed tomography (CT) technology.

Micro-X's subsidiary has already signed two contracts totalling USD 4. 0 million (AUD 6. 0 million) with the DHS, with one regarding the design and manufacture of miniature CT baggage scanners. The other was to design the overall security self-screening checkpoint system to include Micro-X's miniaturised CT scanner and other screening components and system design for passenger and operator use.

Thoughts on the Contract Extension

Brian Gonzales, Micro-X, Inc. Chief Executive Officer of Americas and Chief Scientist, said the contract extension fully funds them to build and test a self-screening checkpoint design in real airports, improving the design in collaboration with real passenger and operator input. He added that with the aviation security market, the government is the regulator and the customer, making its partnership with DHS and TSA exciting as it is beneficial to combine feedback from both the end-customer and the safety regulator to deliver a design that fully re-imagines security screening and is grounded in the reality of airport operations and regulations.

The contract extension by the DHS is a significant move in Micro-X's airport security strategy enabling them to develop technology with direct feedback from the US government customer's regulators while collaborating with global leaders in the security field.

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