US Security Sector Gives Syft The Tick Of Approval
News release, 10th December, Syft Technologies Ltd, Christchurch, New Zealand:
Syft Technologies has signed a purchase agreement with a key defense contract organisation connected directly with a USA
Government security agency.
The details of the application are subject to strict USA security clearance rules and cannot be disclosed however Syft’s
International Sales Manager John Billows is delighted with the contract.
“We engaged with this group at Pittcon08, a large analytical conference and exhibition which took place in New Orleans
in March. They were instantly impressed with the potential for our technology in a number of critical security
applications where alternative technologies just didn’t deliver the combination of features they were seeking.”
Syft’s USA based Sales and Scientfic personnel have been working closely with the customer since March to develop the
opportunity leading to this weeks announcement. The initial agreement will commence with the supply of one Voice200
instrument for a January 09 delivery to their research laboratory, with two further units to follow shortly afterwards.
Geoff Peck, Syft CEO, is cautiously optomistic about the breakthrough. “We have been engaging with various departments
within the US government and associated groups since the company’s launch in early 2003. Whilst this particular
opportunity only relatively recently arose, the closure of the deal is the culmination of several years of hard work in
building market and scientific credibility in the security sector. The USA team have done an excellent job in bringing
this oppoportunity to a successful conclusion, and we are confident that this sale will lead to a more significant
deployment in the lucrative homeland security space.”
Continuing the company’s sales momentum in the US, late last week the Ohio State University converted its lease-to-buy
contract with Syft to an outright purchase. The instrument is used by the highly regarded Food Science and Technology
Department at The Ohio State University to research flavour in dairy products, chocolate and tomato, all of which have
highly complex aroma profiles. Syft instruments are ideally suited to the identification and measurement of such
matrices.
Syft is presently in the middle of a Capital raise and Rights issue to raise up to $5m to facilitate growth in key
market sectors, in particular within the USA.
“We are on track to hit this year’s numbers and these sales are evidence of this. Momentum is building in the market as
we had predicted, hence the necessity for the capital to grow and support our sales and marketing infrastructure,” Geoff
Peck said.
ENDS