SEHO - Sense Holdings and Interrelated Technologies Execute Agreement to Develop Security Systems Based on Proprietary MEMS Technology; Companies to Target Homeland and Port Security with Advanced Technology Solutions
May 11, 2006 3:30:00 AM
Copyright Business Wire 2006
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 11, 2006--
Sense Holdings, Inc. (OTCBB:SEHO) (FWB:OUP), a developer of next-generation biometric and explosive detection security technologies for government and commercial security markets, today announced that the company has executed a memorandum of understanding (MOU) with Interrelated Technologies, Inc. (ITI) of Charleston, SC, to develop advanced homeland security solutions and products.
The joint research and development agreement creates a formal platform for the two companies to work together as ITI completes the development of its unique system, in combination with the Sense Holdings proprietary MEMS technology. This product will be designed to offer an extraordinary detection system for fire, explosives, WMDs and contraband materials.
Sense and ITI believe that collectively these technologies will increase their global business presence, and allow them to establish a unique safety and security paradigm for the 21st century. Sense is developing a broad line of explosive detection devices and other security systems based on proprietary Micro Electro-Mechanical Systems (MEMS) technology.
"ITI's relationship with Sense allows us the opportunity to provide a valuable safety product solution for all homeland security needs," says Jerome Dumas, Chairman and CEO of ITI. "Both Sense and ITI have strong and productive working arrangements with the Oak Ridge National Laboratory. We are excited to be working with Sense to create new advanced technology products to solve security issues that affect all people all over the world."
"This alliance with ITI will enable our companies to offer multiple products using these cost efficient technologies which will address many areas of domestic and international concern for public safety," said Dore Perler, CEO of Sense Holdings, Inc.
Sense is developing its line of advanced detection products under a research and development partnership with the Oak Ridge National Laboratory in Oak Ridge, TN, which is operated by the US Department of Energy. Sense is the sole commercialization partner with exclusive rights for the manufacture, sale and distribution of MEMS-based handheld devices for homeland security product applications and markets.
As previously announced Sense also has expanded licensing and patent agreements with Oak Ridge National Laboratory and now owns all worldwide exclusive rights to the sale, manufacturing, and distribution of this major new platform technology and all of its explosives, chemical and narcotic applications. In addition, Sense has retained the right to acquire additional licensing rights for all biological sensing applications in the future.
About Interrelated Technologies Inc.
Interrelated Technologies, Inc., a privately held South Carolina Corporation with headquarters in Charleston, is completing the development of its advanced dynamic fire detection systems for the aviation, marine, and the domestic markets.
About Sense Holdings
Sense Holdings is a developer of next-generation biometric identification systems, and nanotechnology-based micro-sensor technologies for government, military and commercial security marketplaces. The Company's wholly owned subsidiary Sense Technologies deploys proprietary biometric technology based on advanced fingerprint technology and biometric integration to create a range of solutions for prisoner identification, time and attendance, access control applications and other markets. Sense's major customers include the U.S. Army, the U.S. Department of Corrections and American Airlines. A second wholly owned subsidiary, MSTI, is an emerging nanotechnology-based explosives detection technology development division developing a pipeline of advanced bomb detection technologies, including a prototype handheld explosive detection wand device for Homeland Security applications in airports and other security checkpoints. This hand-held detection alternative is designed to be a cost-effective solution with extremely high detection sensitivity and real-time operability. Currently, a proof-of-principle prototype is undergoing further research and development at the U.S. Oak Ridge National Laboratory (ORNL). For investor-specific information about Sense Holdings, including recent share price data and news announcements, please visit trilogy-capital.com. To view or download an Investor Fact Sheet about the Company, please visit trilogy-capital.com. Sense is also listed on the Frankfurt Stock Exchange under the ticket symbol, OUP. For other information, please visit senseme.com.
Cautionary Statement
This presentation includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Source: Sense Holdings, Inc.
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Sense Holdings
Inc.
Fort Lauderdale
Dore Perler
954-726-1422 x 101
dore@senseme.com
or
Investor Relations
Trilogy Capital Partners
Paul Karon
800-592-6067
paul@trilogy-capital.com
or
Interrelated Technologies
Inc.
843-768-9706 |
