Implant Sciences inks contract to supply protection devices to Singapore bank

Implant Sciences Corp (PINK:IMSC) said on Monday that it has won a contract to provide units of its Quantum Sniffer QS-H150 handheld explosives trace detector product to a bank in Singapore.
The supplier of systems and sensors for homeland security and defense markets said its equipment was chosen due to its "non-radioactive source", lower total cost of ownership and ease of use.
The deal expands on the company's already growing corporate customer base, which includes banks in Europe, the Middle East, Africa and Asia, as well as stock exchanges, hotels, manufacturing plants, and office buildings globally.
"Companies in the financial services industry are particularly aware of security threats, and they are very proactive about protecting personnel and physical assets," said the company's VP of global sales and marketing, Dr. Darryl Jones.
"We are seeing growing interest and increasing purchases from the banking sector. We find that the easy-to-use and low total cost of ownership design of Implant Sciences' products, combined with the freedom from the worry, cost, and regulatory burden of a radioactive source is especially attractive to corporate customers."
Implant Sciences makes and sells sophisticated sensors and systems for security, safety, and defense markets. Its narcotics and explosives detection systems are used by private companies as well as government agencies to screen baggage, cargo, vehicles and people.
The company's QS-H150 portable explosives trace detector has received Qualified Anti-Terrorism Technology designation and its other main product, the QS-B220 desktop explosives and drugs trace detector, has received a Developmental Testing & Evaluation designation by the U.S. Department of Homeland Security.
"As our company grows, it is important that we continue to diversify our revenue base between government and commercial customers," said Implant's president and CEO, Glenn Bolduc.
"This serves to increase the total available market for our technology and reduces the reliance on any one sector. Both government and commercial entities have security requirements that include explosives trace detection, and today's announcement proves that we continue to win contracts in both markets."
Last week, the company made front page in the June issue of Government Security News as an emerging global player in the explosives detection market.
The print edition of Government Security News has a circulation of 35,000, and more than 80,000 page views per month online.
In the latest issue, the article chronicles Implant’s evolution into a homeland security focused company led by an "impressive roster of top tier executives."