r> IRVINE, Calif., Jan. 24 - HiEnergy Technologies, Inc. (OTC Bulletin Board: HIET) (the "Company" or "HiEnergy") announced that the Company successfully conducted live blind-tests of its suitcase-borne Atometer(TM) detector of homemade bombs, the SIEGMA(TM) 3E3, for an audience of 35 representatives from 15 leading homeland security and counter-terrorism agencies from the Greater Washington D.C. - Capitol area. HiEnergy Technologies is the homeland security industry leader in neutron-based diagnostic technology and the creator of the world's first explosive diagnostic devices which can effectively decipher the chemical formulas of unknown substances through metal or other barriers.
The system demonstration was hosted on January 9, 2006 by the Arlington (Virginia) County Bomb Squad and included distinguished representatives, procurement officers and policy makers from the U.S. Secret Service, F.B.I., Washington D.C. Metro Police Bomb Squad, Washington Metropolitan Area Transit Authority (WMTA), Arlington County Bomb Task Force, and the U.S. Army - IED Task Force, as well as several leading defense contractors and integrators, among others.
"Besides the positive response from the public transportation sector and state and local bomb squads, we are now seeing increased interest in our Atometer(TM) explosives detectors from leading defense and homeland security integration companies," states HiEnergy's CEO Bogdan C. Maglich. "We are actively pursuing partnerships that can drive growth with the integration of our products and technologies into large scale infrastructure security platforms and projects."
During the exclusive engagement, HiEnergy's sales team performed live blind tests of its SIEGMA(TM) 3E3 system utilizing a variety of explosive simulants. The system demonstration consisted of three target runs with the SIEGMA(TM) system interrogating various suspicious, unmarked packages and containers. In each case the system correctly discriminated and confirmed explosives from non-explosives in times ranging from a matter of seconds to two minutes, with no "false positives" or "false negatives" and a probability of detection of 97.75%.
ABOUT HIENERGY TECHNOLOGIES, INC. (http://www.hienergyinc.com)
HiEnergy Technologies, Inc. is the creator of the world's first "stoichiometric" diagnostic devices that can effectively decipher chemical formulas of unknown substances through metal or other barriers, almost instantly and without human intervention. HiEnergy's products incorporate a proprietary interrogation process which activates a selected target with neutrons causing the contents to emit back gamma rays that contain unique signatures from which the chemical formulas are derived. HiEnergy believes its Atometry(TM) technology compares with other detection technologies like color photography compares with black-and-white photography. HiEnergy's first commercial product, the SIEGMA(TM) 3E3, is unique in that it can detect and confirm whether an object or container carries a select group of dangerous or illicit substances, such as explosives, biological agents, or illicit drugs, with a probability of detection equal to approximately 97.75%, and "false negative" and "false positive" rates of nearly 2.25%.
HiEnergy is focused on the commercialization of the world's first "stoichiometric" explosive diagnostic devices, including the CarBomb Finder(TM) 3C4, a vehicle-borne system, for the detection and identification of car bombs, and the SIEGMA(TM) 3E3, a portable suitcase-borne system for the detection and identification of home-made bombs, also known as Improvised Explosive Devices or IEDs. The Company is marketing its devices to governmental and private entities and is negotiating licenses for distribution of its devices with various industry partners. The Company also continues to focus on the research and development of additional applications of its technologies and their further exploitation, both internally and through collaboration with third parties. HiEnergy is currently developing prototypes in programs with the U.S. Department of Defense and the Department of Homeland Security for other related uses of its core technology. Recently, it entered into a funded cooperative development agreement with the U.S. Transportation Security Administration (TSA) to produce a proof of concept which incorporates the Company's SuperSenzor(TM) technology into a baggage screening system. The Company's "stoichiometric" technologies, or Atometry(TM), have been incorporated into additional prototype applications which, if the Company is able to raise the funds necessary to commercialize them, will be the next products it attempts to launch: an in-ground explosive screening system, the CarBomb Finder(TM) 3C5, the STARRAY(TM), an all-terrain robot-borne IED detector; an anti-tank landmine detector; an unexploded ordnance detector, which is also useful to detect IEDs; and a device called a "Refractorymeter," which can detect fissures or erosions in the ceramic lining of oil cracking tanks.
FORWARD-LOOKING STATEMENTS
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the Company. The Company disclaims any obligation to update information contained in any forward-looking statements. The views and conclusions contained in this document are those of the authors and should not be interpreted as representing the opinions or policies of the U.S. Government. Mention of trade names or commercial products does not constitute their endorsement by the U.S. Government.
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