Micro-X secures US$23m funding to expand self-service checkpoint project

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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.

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With over a decade of experience as a business and technology journalist working in B2B publishing, Hazel first joined UKi in 2011. After taking 18 months off to bring up her daughter and try her hand at marketing copywriting, she returned in January 2018 to do what she loves best – magazine editing! She is now the editor of UKi's Passenger Terminal World and Parcel and Postal Technology International magazines.

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