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Technology Stocks : Invision(INVN)going which way?
INVN 22.14-0.9%Jan 8 4:00 PM EST

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To: R.shubhada who started this subject11/28/2001 9:13:17 AM
From: wgh613  Read Replies (1) of 558
 
Quantum Magnetics' i-Portal 100 Wins 2001 Aviation Security International Award of Excellence
NEWARK, Calif., Nov 28, 2001 (BUSINESS WIRE) -- InVision Technologies, Inc. (Nasdaq: INVN chart, msgs) today announced that its wholly owned subsidiary Quantum Magnetics, Inc.'s i-Portal(TM) 100 was awarded the 2001 Aviation Security International Award of Excellence in the Aviation Security Technology category at AVSEC World 2001 in Atlanta, Georgia. The annual conference was sponsored by the International Air Transport Association (IATA) and the Airports Council International (ACI). The awards are sponsored by Aviation Security International magazine and co-sponsored by IATA and ACI.

The award was announced by a panel of distinguished aviation security experts at the conclusion of the conference attended by government aviation security representatives from around the world. The award was based on the i-Portal(TM) 100's capability to decrease the time to scan passengers during secondary screenings by up to 50 percent. The i-Portal(TM) 100 system displays threats such as guns or knives as colored dots superimposed on a digital image of each traveler, which is captured by the screening system as the passenger is being scanned. These more precise threat locations are displayed for the screener, thus allowing for effective -- and rapid -- passenger inspection. The system also archives each person's image (and possible alarms), enabling authorities to review screenings at a later time. (More product information is available from Quantum's web site:http://www.qm.com.)

The award winners were selected by the members of the Editorial Advisory Board of Aviation Security International, in addition to representatives from IATA and ACI. Mr. Philip Baum, Editor of Aviation Security International, stated, "The Aviation Security Technology Award is awarded to a company that has developed a new technology or service, or has significantly improved an existing technology, that is likely to have a significant impact on the prevention of unlawful attacks against aviation." In considering Quantum Magnetics' i-Portal(TM) 100, Baum continued, "The technology behind the portal shows great promise at both improving the detection of metallic items on passengers and in increasing the throughput at passenger screening checkpoints. With security screeners being required to identify needles, both literally and metaphorically, in haystacks, it has become all the more important to focus their attention on the causes of alarms."

Quantum Magnetics' President and Chief Executive Officer, Lowell Burnett, Ph.D., said, "Quantum is honored the conference judges considered the i-Portal(TM) 100 meritorious of this distinguished award of excellence. We believe it validates the efforts of Quantum's talented experts and, equally important, the government's support and technical contributions during the development of this product."

InVision Technologies, Quantum Magnetics' parent company headquartered in Newark, Calif., is an established world leader in supplying explosives detection systems for aviation security domestically and abroad. InVision's President and Chief Executive Officer, Sergio Magistri, Ph.D., said, "Due to the increased security levels at the nation's airports, the number of passengers who require secondary screening as a result of alarms initiated by a primary metal detection system is likely to increase. The i-Portal(TM)'s ability to accurately and speedily resolve these alarms, while screening out many sources of false alarms, could dramatically improve the effectiveness and speed of this awkward and logistically difficult part of the screening process at high-volume aviation checkpoints."

The i-Portal(TM) 100 uses SecureScan 2000(TM) software, developed by the Idaho National Engineering and Environmental Laboratory (INEEL) with National Institute of Justice funding. Quantum developed the sensors for INEEL. Milestone Technology, Inc. (an Idaho company) obtained the worldwide exclusive licensing rights from INEEL and granted a sublicense to Quantum Magnetics for transportation applications as part of a wider cooperative effort between the two companies. (A similar product designed for entry point screening for buildings is sold by Milestone Technology; and is currently being used in courthouses in Idaho.)

Founded in 1987, Quantum became a wholly owned subsidiary of InVision Technologies in 1997. The company's intellectual property portfolio includes more than 12 U.S. and foreign patents and patent filings related to its magnetic resonance (MR), quadrupole resonance (QR) and magnetic tensor gradiometry (MTG) technology. Quantum develops and commercializes promising technologies based on these technologies in addition to low-cost magnetic resonance imaging (MRI). Through government funded research and development programs, the company uses its technologies to solve problems in landmine detection, bomb detection, facility and aviation security, drug and concealed weapon detection, process control and nondestructive evaluation.

In recent years, Quantum's defense and defense-related business activities have grown substantially. Principally, these activities have funded research and development (R&D) of Quantum's core detection technologies. Although only some of Quantum's research initiatives have the potential to deliver significant returns from commercial production, the risk of significant commercial acceptance is mitigated by the fact that these R&D efforts are fully funded by the federal government
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