InVision Technologies receives multi-million dollar awards for development of next generation explosives detection systems.InVision Technologies InVision Technologies, Inc. was a publicly traded company based in Newark, California, that manufactured and sold airport security screening devices to detect explosives in passenger baggage. One of its most well-known products is the CTX explosive-detection device. , Inc. (Nasdaq:INVN) and its subsidiary, Quantum Magnetics, have announced receipt of awards of up to approximately $13 million from the Transportation Security Administration (TSA TSASee tax-sheltered annuity (TSA). ) for the development of next generation explosives detection systems (EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. ). InVision received grants from the TSA providing up to $3.5 million for X-ray diffraction technology enhancements and up to $2.0 million for continuous performance improvements of existing EDS technology. Of these amounts, $1.2 million and $850,000 have been funded by the TSA, respectively. The TSA has no obligation to provide additional funding beyond the amounts currently funded. As the leading provider of EDS for aviation security, InVision will use the research and development funding to pursue research and development with respect to performance improvement of its machines, in particular through the incorporation of X-ray diffraction technology held by InVision's subsidiary, YXLON International Holding GmbH. When combined with deployed EDS, the company anticipates that X-ray diffraction will increase throughput by reducing the level of false positives and lowering the amount of human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. required to reconcile alarms while maintaining the same high level of security. InVision's subsidiary, Quantum Magnetics, received an aggregate award from the TSA of up to $7.5 million to pursue research and development with respect to the combination of quadrupole A quadrupole is one of a sequence of configurations of electric charge or gravitational mass that can exist in ideal form, but it is usually just part of a multipole expansion of a more complex structure reflecting various orders of complexity. resonance and computed tomography Computed tomography (CT scan) X rays are aimed at slices of the body (by rotating equipment) and results are assembled with a computer to give a three-dimensional picture of a structure. technologies. Of the total award amount, $2.3 million has been funded. The TSA has no obligation to provide additional funding beyond the amount currently funded. By utilizing the strengths of each technology, the company believes that the resulting system will provide improved performance, with increased detection and fewer false alarms. "We believe these grants will enable us to accelerate development of systems that meet higher security standards for aviation checked baggage This article or section may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. inspection systems," said Dr. Sergio Magistri, InVision's president and chief executive officer. "We are pleased to partner with the TSA to research upgrades in existing systems and new technologies that further improve efficiency and detection rates." InVision Technologies develops, manufactures, markets and supports aviation security systems based on advanced computed tomography. InVision's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Yxlon International Holding GmbH develops, manufactures, markets and supports automated X-ray based non-destructive testing systems for a wide range of industrial applications and X-ray based diffraction for explosives detection. InVision's wholly owned subsidiary Quantum Magnetics develops detection systems for weapons, narcotics narcotics n. 1) techinically, drugs which dull the senses. 2) a popular generic term for drugs which cannot be legally possessed, sold, or transported except for medicinal uses for which a physician or dentist's prescription is required. , explosives and other threats based on quadrupole resonance and other proprietary magnetic sensing technologies. InVision's wholly owned subsidiary Inovec develops, manufactures, markets and supports scanning, optimization and control systems for the forest products industry. |
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