IRVINE, Calif., July 11, 2006 (PRIMEZONE) -- HiEnergy Technologies, Inc. (OTCBB:HIET), the homeland security industry leader in neutron-based diagnostic technology, announced today that HiEnergy Technologies and Ingersoll Rand Security Technologies, part of Ingersoll Rand Company Limited, have agreed to jointly market and sell HiEnergy's portable, suitcase-borne SIEGMA(tm) explosive detection and confirmation system.
The SIEGMA(tm) system will be marketed to governmental agencies, the military and other customers in complement to Ingersoll Rand's own security offerings, which include physical, access control, and intrusion detection security devices, and through established sales channels. Procurement will be facilitated through a listing of the SIEGMA(tm) system on Ingersoll Rand's GSA Series 84 Integrated Security Schedule, making the SIEGMA(tm) system available on a pre-approved basis to federal and Department of Defense (DoD) customers. The GSA is a centralized federal procurement and property management agency created by the U.S. Congress to improve government efficiency and help federal agencies better serve the public.
Ingersoll Rand's security equipment is listed in the Department of State's security "Blue Book" and GSA Schedules, and is found within every DoD installation and federal agency, as well as within 98 of the nation's 103 nuclear power facilities and 75 airports worldwide. In addition to numerous manufacturing and assembly locations, Ingersoll Rand's security unit maintains 25 service and supply centers and 45 integration centers across the country to provide customer and account support.
"Ingersoll Rand is an ideal partner, having a long history of quality products and support, and their understanding of the security business environment will also offer us insight for new and innovative uses of our products and technology," stated Roger Spillmann, HiEnergy Technologies' President and CEO. "Incorporating SIEGMA(tm) in Ingersoll Rand's GSA program will help us expand our federal sales channels in a cost-effective manner, as well as simplify the purchasing procedure for our SIEGMA(tm) system."
"Ingersoll Rand and HiEnergy Technologies have been exploring a variety of potential teaming opportunities in the past year and the inclusion of HiEnergy's leading edge system to our GSA schedule will enable the Federal government and other GSA customers to bolster their arsenal of next-generation explosive detection products. We look forward to our collaboration," added Judd E. Squitier, Director of Ingersoll Rand's Government Sales.
With a history dating to 1871, Ingersoll Rand is an $11 billion diversified industrial company employing more than 40,000 personnel in over 30 countries. Ingersoll Rand has developed world-class technologies and competencies in each of its product and services divisions, which include Industrial Technologies, Construction Technologies, Compact Vehicle Technologies, Climate Control Technologies and Security Technologies.
Ingersoll Rand Security Technologies division takes a comprehensive approach to security with a portfolio of market-leading brands of mechanical door hardware, exit devices, door controls, and more sophisticated credentialing and electronic access control. Ingersoll Rand has pioneered patented key systems and stand-alone electronic access control devices, as well as become a global leader in networked access control, biometrics, and enterprise building management. Additionally, the division's integrated access control and remotely monitored facilities management solutions encompass intrusion detection, HVAC and building controls, and CCTV monitoring.
Col. William J. Lacey, Jr. (ret.), President of HiEnergy Defense Inc., a wholly-owned subsidiary of HiEnergy Technologies, located in Alexandria, Virginia, spearheaded negotiations and will help coordinate federal agency and military sales efforts under the program.
ABOUT THE SIEGMA(tm) SYSTEM
The SIEGMA(tm) is a mobile, suitcase-borne explosive detection and confirmation system, incorporating HiEnergy's proprietary "Atometry" technology, which is unique in its ability to 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%. Combined with its mobility and stand-off design, the SIEGMA(tm) is particularly well-suited for the detection of terrorist-made bombs, or Improvised Explosive Devices (IEDs). Unlike military ordnance, IEDs are unconventional in their delivery, often inaccessible by vehicle-borne systems, and contain non-standard mixtures that require chemical formula identification not obtained by the common "anomaly" and chemically blind detectors currently in the marketplace.
ABOUT HIENERGY TECHNOLOGIES, INC. (www.hienergyinc.com)
HiEnergy Technologies, Inc. is the creator of the world's first "stoichiometric" diagnostic devices that can effectively decipher chemical composition of unknown substances through metal or other barriers, almost instantly and without human intervention. HiEnergy's Atometer(tm) devices 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 is focused on the commercialization and sale of its portable, suitcase-borne SIEGMA(tm) 3E3; the CarBomb Finder(tm) 3C4, a vehicle-borne system, for the detection and identification of car bombs; and the STARRAY(tm), its robot-borne detector of IEDs, landmines and unexploded ordnance. 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.
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.