Astrotech (NASDAQ: ASTC), an innovative science and technology company, in Austin, Texas, June 13, 2024 (GLOBE NEWSWIRE) — AgLAB, Inc., (“AgLAB”) a subsidiary of Astrotech Corporation (NASDAQ: ASTC) (“Astrotech”, or the “Company”), and SC Labs announced today that the companies will be jointly marketing the AgLAB 1000-D2 TM mass spectrometer and the AgLAB Maximum Value Process testing method (“AgLAB MVP”), to SC Labs customers. This comes with the companies entering into a master lease agreement.
AgLAB has pioneered applications utilizing the Astrotech Mass Spectrometer Technology that are tailored to the hemp and cannabis markets. The AgLAB MVP method is designed to improve yields and bottom-line profits for hemp (CBD) and cannabis (THC) producers of distilled oils used in various products. Large scale oil producers typically use high vacuum molecular distillation systems (“MDS”) to produce the valuable oils that are used in lotions, pills, tinctures, and cartridges. Using the AgLAB MVP solution, manufacturers can analyze the oils during processing and make near real-time adjustments to temperatures and pressures that boost the ending-weight yields, potencies, and profits.
SC Labs is one of the largest multi-state cannabis and hemp testing labs in the United States. They deliver industry-leading, science-based innovations in cannabis and hemp testing. SC Labs works with their customers to maximize value and mitigate losses. SC Labs invests in the technologies that ensure the safety and quality of hemp and cannabis products. This commitment made for a natural partnership between the companies to market the AgLAB MVP to the SC Labs customers.
“We are thrilled to announce the agreement between AgLAB and SC Labs. Working together, SC Labs’ customers gain access to our AgLAB MVP solution for use directly in their production facilities. We anticipate the AgLAB MVP method will improve customers ending-weight yields by an average of 20%, and these gains should go directly to their bottom line,” stated Thomas B. Pickens III, CEO and CTO of Astrotech.
“SC Labs is excited to announce the launch of this agreement with AgLAB, which extends our analytical services directly into our clients’ production spaces. AgLAB’s ability to provide real-time feedback for optimizing distillation efficiency will be a powerful tool, offering immediate returns through increased production efficiency. Our partnership with Astrotech enhances our service integration across the supply chain, helping us fulfill our mission of providing comprehensive solutions to our customers’ challenges, beyond the standard analytical testing services offered by our competitors”, said Jeff Gray, CEO of SC Labs.
About SC Laboratories
SC Labs is one of the nation’s leading cannabis and hemp testing laboratory with more than 13 years of experience helping companies deliver safe products to the emerging marketplace. Focused on establishing new testing standards and methodologies designed for speed, efficiency, and safety, SC labs helps its clients navigate complex regulatory requirements while providing them unmatched scientific expertise and state-of-the-art resources. SC Labs is licensed and accredited in Arizona, California, Colorado, Michigan, and Oregon, with a growth strategy designed to serve quality cannabis and hemp brands across the nation and around the world. To learn more, visit SCLabs.com.
About the AgLAB 1000
This press release contains information about our new product under development, AgLAB 1000 TM . 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.
To view the full press release, visit https://cnw.fm/ngrcx
About Astrotech Corp.
Astrotech is a mass spectrometry company that launches, manages and commercializes scalable companies based on its innovative core technology through its wholly owned subsidiaries. 1st Detect develops, manufactures and sells trace detectors for use in the security and detection market. AgLAB develops and sells chemical analyzers for use in the agriculture market. BreathTech is developing a breath-analysis tool to screen for volatile organic compounds that could indicate bodily infections and compromised conditions. Pro-Control is developing the mass-spectrometry technology for use in chemical manufacturing processes. Astrotech is headquartered in Austin, Texas. For more information, please visit www.AstrotechCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to ASTC are available in the company’s newsroom at https://cnw.fm/ASTC
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