Astrotech Subsidiary 1st Detect Appoints Raj Mellacheruvu as President and Chief Executive Officer

AUSTIN, Texas–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24ASTC&src=ctag” target=”_blank”gt;$ASTClt;/agt;–Astrotech subsidiary 1st Detect is very pleased to announce
the appointment of Raj Mellacheruvu as President and Chief Executive
Officer (CEO), effective immediately. Former CEO Thomas B. Pickens III
will continue to serve in his role as Chairman of the Board. Mr.
Mellacheruvu has spent his career commercializing innovative
technologies in both start-up and large enterprise environments. Most
recently he served as the Vice President and Chief Operating Officer of 1st
Detect and was instrumental in revolutionizing the Explosives Trace
Detection (ETD) market with the introduction of an ETD-based on mass
spectrometry technology. Prior to that, he was the Managing Director of
Noumenon Consulting, Inc., providing consulting services on product
strategy, management, and business operations. Mr. Mellacheruvu was
previously employed by ClearCube Technology, Inc., Omega Band, and
Advanced Micro Devices.

Mr. Mellacheruvu has an MBA in Business Strategy and Finance from
Kellogg School of Management at Northwestern University, a Master’s
degree in Electrical Engineering from Texas A&M University, and a
Bachelor’s degree in Electronics and Communication Engineering from
Osmania University.

Thomas B. Pickens III, Chairman and CEO of Astrotech (NASDAQ: ASTC) and
Chairman of 1st Detect, added, “We are very pleased to have
Raj in his new role as CEO as he leads 1st Detect forward in
the adoption of the TRACER 1000™ by airports worldwide.”

Mr. Mellacheruvu commented, “I am honored to assume this new role and I
am excited to drive the development and execution of our corporate
strategy going forward. Our core market of aviation security has, at
best, seen incremental improvements in Explosives Trace Detection over
the last few decades. We are excited to introduce our ETD technology
that pays for itself in under a year while providing the best in
protection from evolving terroristic threats.”

About Astrotech Corporation

Astrotech (NASDAQ: ASTC) is a science and technology development and
commercialization company that launches, manages, and builds scalable
companies based on innovative technology in order to maximize
shareholder value. 1st
Detect
 develops, manufactures, and sells chemical analyzers for
use in the security, defense, healthcare, and environmental markets. Astral
Images
 sells film-to-digital image enhancement, defect removal,
color correction, and post processing software, providing economically
feasible conversion of film to the new 4K ultra-high definition (UHD),
high-dynamic range (HDR) format. Astrotech is headquartered in Austin,
Texas. For information, please visit www.astrotechcorp.com.

This press release contains forward-looking statements that are made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
subject to risks, trends, and uncertainties that could cause actual
results to be materially different from the forward-looking statement.
These factors include, but are not limited to, the Company’s use of
proceeds from the private placement transaction, whether we can
successfully develop our proprietary technologies and whether the market
will accept our products and services, as well as other risk factors and
business considerations described in the Company’s Securities and
Exchange Commission filings including the annual report on Form 10-K for
the fiscal year ended June 30, 2018. Any forward-looking statements in
this document should be evaluated in light of these important risk
factors. In addition, any forward-looking statements included in this
press release represent the Company’s views only as of the date of its
publication and should not be relied upon as representing its views as
of any subsequent date. The Company assumes no obligation to update
these forward-looking statements.

Contacts

Eric Stober, Chief Financial Officer, Astrotech Corporation, (512)
485-9530

error: Content is protected !!