SOURCE: Princeton Security Technologies

June 17, 2010 13:24 ET

Princeton Security Technologies (OTCBB: PSGY) Receives New Orders in the Growing Homeland Security Industry

Princeton Security Technologies, Inc. (OTCBB: PSGY), Which Develops Detection Solutions and Radiation Isotope Identifier Devices for the Homeland Security Market Alongside Companies Like ICX Technologies, Inc., SAIC, Inc., Thermo Fischer Scientific and Canberra, Received Sizeable New Orders

PRINCETON, NJ--(Marketwire - June 17, 2010) -  Princeton Security Technologies, Inc. (OTCBB: PSGY), a leading supplier of X-ray and Gamma-ray Detectors, Spectroscopy systems and Radioactive Isotope Identifier Devices (RIID) through its wholly-owned subsidiary Princeton Gamma-Tech Instruments Inc. (PGT), announced the receipt of two new orders for Nuclear Detector systems as well as Radioactive Isotope Identifier Devices. The total value of the orders is in excess of $500,000, with deliveries expected to occur in the third quarter of 2010 to both domestic and international customers.

Princeton Gamma Tech Instruments offers the most accurate isotope identification capabilities in the industry, which is a deciding factor in the selection of its spectroscopy technologies by several large agencies in the past month. The recent increase in orders demonstrates the company's superiority over previously best-in-class technologies offered by companies like ICx and SAIC. The company has also partnered with Berkeley Nucleonics (San Rafael, CA) to deliver complete handheld spectroscopy systems, software, world-class training and program management support.

About Princeton Security Technologies Inc.:
Princeton Security Technologies, through its wholly owned subsidiary, Princeton Gamma-Tech Instruments, Inc (PGT), is a supplier of X-ray and Gamma-ray Detectors and Spectroscopy systems, and Radioactive Radioisotope Identifier products. The Company serves a broad customer base in scientific research, industrial materials analysis, and Homeland Security. PGT operates a full customer service and Reachback program via its partners, backed by highly skilled R&D and manufacturing staff in its Princeton facility.

Princeton Gamma Tech Instruments has brought leadership and technical innovation to the Nuclear and X-ray detection field for over 35 years. Recent accomplishments include a Sterling Cooled HPGe detector, a state-of-the-art isotope identification technology for fixed and portable applications and a scalable software control application for the rapid deployment of multiple sensors. The corporation markets its products and services directly, as well as via a distributor network domestically and internationally.

Further information regarding both companies can be found at www.PGT.com.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

  • Contact:
    Dr. Leong Ying
    VP of Sales and Business Development
    Princeton Gamma-Tech Instruments, Inc.
    tel. (609) 924 7310 ext. 270