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ASTROTECH ANNOUNCES CONFIRMED AGLAB, INC. FIELD TRIAL RESULTS
AUSTIN, Texas, May 09, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) (the “Company”), is announcing today that its subsidiary, AgLAB, Inc.,
About this update from Astrotech Corporation
[{"type":"text","content":"AUSTIN, Texas, May 09, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) (the “Company”), is announcing today that its subsidiary, AgLAB, Inc., confirmed the results from field trials using the AgLAB 1000-D2TM mass spectrometer and the Maximum Value ProcessTM testing method (“AgLAB MVP”). AgLAB MVP is designed to improve yields and bottom-line profits for hemp (CBD) and cannabis (THC) producers of distilled oils. Large scale CBD and THC oil processors use molecular distillation systems (“MDS”) to produce the valuable oils that are used in lotions, pills, tinctures, and cartridges. Using the AgLAB MVP solution, customers are now able to analyze the oils during processing and make near real-time adjustments that can boost the ending-weight yields and potencies. “The AgLAB 1000 is a powerful tool for large-scale distillers. This product and method fill a void by providing an easy and accurate real-time analysis that is used to make the right adjustments and improve the yields,” said Joe Levinthal, Chief Science Officer and Master Distiller of AgLAB. “After hundreds of field sample tests, we are excited to announce the results using the AgLAB 1000-D2 mass spectrometer and the MVP testing method, which we believe demonstrate how valuable this tool can be for large-scale cannabis and hemp oil processors. During our field trials, we were able to improve ending-weight yields by an average of 30%, increasing customer profitability,” stated Thomas B. Pickens III, CEO and CTO of Astrotech. About the AgLAB 1000™ and the BreathTest-1000™ This press release contains information about our new products under development, AgLAB 1000 and BreathTest-1000. 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. In addition, FDA approval will be required to market BreathTest-1000 in the United States. Obtaining FDA approval is a complex and lengthy process, and there can be no assurance that FDA approval for BreathTest-1000 will be granted on a timely basis or at all. About Astrotech Corporation Astrotech (Nasdaq: ASTC) is a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core techno...