IRVINE, Calif., Dec. 14, 2006 (PRIME NEWSWIRE) -- HiEnergy Technologies, Inc. (OTCBB:HIET), the homeland security industry leader in neutron-based diagnostic technology, announced today receipt of an order in the amount of $325,000 for one SIEGMA(tm) 3M3 Atometer(tm) suitcase-borne explosives detection system.
The purchase order made on behalf of a Middle Eastern government's security agency was received through Applied Tactical Technologies, Inc. of New York, working in conjunction with Taylor Jordan and Associates, an authorized sales agent for HiEnergy Technologies. The order provides for delivery within 60 days and includes operator and radiation safety training, one year of maintenance and service parts warranty, as well as software upgrades for a period of six months.
"The order is the result of our ongoing sales and marketing efforts, with the cooperation of outside sales agents and valued resellers, to penetrate regions such as the Middle East, where there is significant demand for advanced counter-terrorism technologies, and to increase awareness of the unique capabilities offered by neutron diagnostics," stated Sean C. Moore, HiEnergy's Vice President of Sales and Marketing. "Based on the interest received at the ASIS Exhibition in Bahrain, and the anticipated use of our explosives detection system by a high level government agency in the Middle East, we expect to increase our visibility in the region and advance our sales efforts in the region."
HiEnergy Technologies' most recent exhibition in the Middle East was at the ASIS International Middle East Security Conference in the Kingdom of Bahrain, which featured more than 130 companies presenting the latest developments in security equipment and state-of-the-art technologies to an estimated 10,000 attendees, including security professionals, law enforcement, government and military officials, and leading policy makers. The Conference focused on the urgent needs of the public and private sectors in the Middle East for security products and services to protect critical infrastructure, information systems, and physical and intellectual property.
The delivery of the product related to the purchase order, and other similar orders, is contingent upon the payment of all taxes and import duties by the purchaser, as well as conformance with all applicable restrictions on the exportation or importation of the SIEGMA(tm) system. HiEnergy's ability to fulfill the purchase order is dependent, in part, on the ability of the Company to raise the necessary funds to meet its manufacturing costs and operating expenses. There can be no assurance that such funds will be available on acceptable terms and conditions, or at all.
About SIEGMA(tm)
SIEGMA(tm) is HiEnergy's portable suitcase-borne Atometer(tm) explosives detection system, incorporating its proprietary Atometry(tm) technology. SIEGMA(tm) is well-suited for the interrogation and detection of terrorist-made bombs, or Improvised Explosive Devices (IEDs), as well as addressing the significant problems posed by unattended or suspicious bags or packages that otherwise paralyze critical infrastructure and are responsible for huge financial losses. Unlike x-ray and other conventional detection methods which make guess work out of critical security, HiEnergy's Atometry(tm) technology is unique in its ability to non-invasively determine the chemical composition of targeted substances and detect and confirm whether an object or container carries explosives, with a high level of confidence and false alarm rates as low as 3%.
About HiEnergy Technologies, Inc.
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. 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 (www.hienergyinc.com).
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. Factors which might cause actual results to differ materially from those projected are detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. The Company undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time.