HiEnergy Technologies Announces Leasing Option
August 19, 2005 09:00:28 (ET)
IRVINE, Calif., Aug 19, 2005 /PRNewswire-FirstCall via COMTEX/ -- HiEnergy Technologies, Inc. (HIET, Trade) (the "Company" or "HiEnergy"), creator of the world's first stoichiometric explosive diagnostic devices, announced today that it is now offering a lease finance option for its SIEGMA(TM) 3E3 system, which is being marketed to first responders as well as to major U.S. mass-transit operators and authorities.
As recently highlighted by media and public interest groups such as the American Public Transportation Association (APTA), there is a relative shortage of federal funding for security improvements in public transportation. Although an estimated 9.6 billion trips are taken annually on public transit services, representing sixteen times the number of daily travelers aboard the nation's airlines annually, public transportation was appropriated less than $150 million in funding for 2005 and is expected to receive $50 million less for 2006. According to APTA, since September 11, 2001, the federal government has spent $18 billion on aviation security, compared to only $250 million on public transit security.
"HiEnergy wants to make the SIEGMA(TM) system and its essential technology widely available and affordable to those transit systems without the ready funds to purchase outright. We believe safety can't wait for funding, or be dependent entirely on the grant process, especially in light of recent terrorism acts in major cities worldwide", said Dr. Bogdan Maglich. "Our new lease option hopefully can give the nation's mass transit systems and municipalities an affordable option to accomplish essential improvements to the security of our nation's mass public transportation, while it convinces legislators to provide it the additional federal funding needed."
HiEnergy's new lease option provides for the purchase of a SIEGMA(TM) 3E3 system for around $6,000 per month, with little or no down payment, with rates competitively priced subject to credit approval. The lease terms have special provisions including early prepayment and purchase with no penalties, cancellation for non-appropriation of funds, and a technology upgrade feature which allows the cost of future upgrades or services to be added and re-factored into a new payment under the lease.
The SIEGMA(TM) 3E3 is the first commercial product to be introduced to the United States using HiEnergy's proprietary Stoitech(TM) technology, which allows for the remote decoding of the quantitative empirical chemical formulas of targeted substances through steel and other barriers without human intervention. The SIEGMA(TM) 3E3 is a suitcase-borne system designed primarily for the detection and identification of Improvised Explosive Devices, or IEDs (the official term for homemade bombs preferred by terrorists), and can identify whether or not an object contains explosives, in a time ranging from 15 seconds to 5 minutes (depending on the quantity of explosives contained in the object, and its distance from the target). The product eliminates or substantially reduces false alarms that otherwise paralyze subway systems, train stations, airports and buildings and are responsible for huge financial losses. The SIEGMA(TM) 3E3 detector has a much higher safety factor than competing devices. It can provide confirmation with a probability of detection equal to 97.75%, and "false negative" and "false positive" rates of 2.25%.
For more information about its leasing program, please contact Sean Moore, Director of Sales, at (949) 757-0855. |
