SOURCE: Technest Holdings, Inc.

December 14, 2007 07:00 ET

Technest Holdings Receives SBIR Phase I Contract to Develop Miniature Near Real-Time 3D Sensor for Urban Combat Special Ops

BETHESDA, MD--(Marketwire - December 14, 2007) - Technest Holdings, Inc. (OTCBB: TCNH), a world-class 3D imaging company transforming state-of-the-art technology into real world products, announced today that it has received an SBIR Phase I grant from the United States Army to develop miniaturized, low-cost processing 3D sensor technology for Near Real-time Structure Mapping for Urban Combat Special Operations.

The program leverages Technest's extensive expertise in 2D and 3D imaging hardware and software system development, 3D terrain navigation and multiple target detection/tracking. Using these capabilities, Technest will create a compact integrated 3D sensor system for near real-time high-resolution structure mapping and object recognition.

Technest's sensor system is a complete hardware and software system based on the Company's miniature Smart Optical Sensor, called SOS, and its intelligent multi-sensor fusion and 3D mapping algorithm. The SOS hardware is a flexible data processing and control architecture that can seamlessly integrate multiple sensors to achieve high-speed data acquisition, processing, and communication. Technest's 3D sensing algorithm intelligently fuses data from multiple sensors to achieve high-resolution rapid 3D mapping and reliable object recognition.

Gino Pereira, CFO of Technest Holdings, Inc., said, "Our miniaturized 3D sensor will have a wide number of applications in commercial as well as military areas. The technologies developed within this research effort will also prove beneficial to other computer vision applications like 3D target recognition, 3D image registration and target tracking. The major uses for this product will come from military reconnaissance operations, but there are numerous commercial applications as well, such as building surveillance, and domestic search and rescue operations."

Mr. Pereira added, "SBIR grants such as this support our business plan to establish Technest as the leading supplier of 3D imaging products and solutions to large markets such as the military, law enforcement, domestic security and medical devices."

About Technest Holdings, Inc.

Technest Holdings, Inc. is a provider of: advanced remote sensor systems, intelligent surveillance and advanced 3D imaging technology solutions to the defense, homeland security and healthcare marketplaces. Technest is committed to setting next-generation imaging standards through the provision of innovative emerging technologies. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in the defense, civilian homeland security and law enforcement fields as well as healthcare. For more information, please visit the company's website at

Investors are cautioned that certain statements contained in this press release are "forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act''). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects,'' "anticipates,'' "intends,'' "plans,'' "believes,'' "estimates,'' or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, applicability, benefit and use of our product and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: the functionality of our product; a rejection of the Company's products and technologies by the marketplace; and disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Technest Holdings, its products, economic and market factors and the industries in which Technest Holdings does business, among other things. These statements are not guarantees of future performance and Technest Holdings has no specific intention to update these statements. More detailed information about those factors is contained in Technest Holdings' filings with the Securities and Exchange Commission.

Pursuant to a May 15 2007 agreement, Consulting For Strategic Growth1, Ltd. ("CFSG1") provides Technest Holdings, Inc. with consulting, business advisory, investor relations, public relations and corporate development services. Independent of CFSG1's receipt of cash compensation from Technest Holdings, CFSG1 may choose to purchase the company's common stock and thereafter liquidate those securities at any time it deems appropriate to do so.

Contact Information

  • Contact:
    Stanley Wunderlich
    Consulting for Strategic Growth 1
    T: 1-800-625-2236
    F: 1-212-337-8089
    Email: Email Contact
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    Daniel Stepanek
    EVP Media
    Consulting for Strategic Growth 1
    T: 1-212-896-1202
    F: 1-212-337-8089
    Email: Email Contact