INDEPENDENT NEWS

Syft Gets Tick Of Approval From US Security Sector

Published: Wed 10 Dec 2008 05:23 PM
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

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