Australian company Micro-X, which develops cold cathode x-ray technology for health and security markets, has announced it has received funding commitments of A$30.5m (US$23m) to open a US office in Seattle to support its Airport Self Service Checkpoint project for the US Department for Homeland Security (DHS).
The publicly listed company has announced to the Australian Securities Exchange that it had received the funding commitments for new fully paid shares at 34 cents each. It is also proposing to undertake a share purchase plan to raise a further A$2.5m (US$1.9m) from existing investors.
Micro-X said the funds raised would also be used to expand sales and marketing teams to accelerate sales. The company is also developing a mobile backscatter imager (MBI) for the remote detection of improvised explosive devices. Funds will be used to bring the tube development and manufacture for its MBI in-house and establish a sales team to build sales demand ahead of the 2022 launch.
The DHS project involves the development of a mobile baggage scanner for airports – read more about it in the January issue of Passenger Terminal World magazine.