Micro-X embarking on \u2018biggest advancement in X-ray since its invention\u2019 in 1895
\nIts X-ray technology is smaller, lighter, more portable and faster than ever before
\nBuilding its capability not just in medical sector but also security and defence<\/p>\n
X-ray imaging opened a world of new possibilities when first invented by German physicist Dr Wilhelm Conrad R\u00f6ntgen in 1895, however it has remained largely unchanged since its inception.<\/p>\n
But Micro-X (ASX:MX1)<\/strong><\/a> \u00a0is embarking on what it believes is the biggest advancement in X-ray since its invention almost 130 years ago as the world\u2019s first company to introduce a product to the market using an electronic X-ray tube with a cold electron source material, rather than the traditional heated filament.<\/p>\n Rather than using heat to control the number of X-rays, MX1\u2019s tech is controlled by a small voltage with its patented carbon nanotube technology ensuring its products are smaller, lighter, more portable and faster than ever before.<\/p>\n The game-changing tech \u2013 offering more precisely controlled imaging \u2013 is set to benefit not only the medical markets but also defence and security.<\/p>\n MX1 is developing solutions to protect communities from the threat and transmission of explosives, prohibitive weapons, contraband, narcotics, and other security risks.<\/p>\n Stockhead <\/em>caught up with MX1 CEO Kingsley Hall along with chief scientist and CEO of\u00a0Micro-X\u00a0Inc, the company\u2019s US subsidiary, Brian Gonzales, from their US base in SeaTac, in Seattle.<\/p>\n MX1 also has a state-of-the-art manufacturing facility and base in Adelaide\u2019s Tonsley innovation district.<\/p>\n \u00a0<\/p>\n MX1\u2019s Miniature Baggage Scanner provides full 3D computed tomography (CT) reconstruction and backscatter X-ray technology to enable detection of hidden threats.<\/p>\n Gonzales says unlike current available options, MX1\u2019s compact, high-resolution security X-ray machine will remove the need to unpack bags or layers for successful detection.<\/p>\n The scanner provides the foundation of MX1\u2019s Airport Self-Service Checkpoint, which aims to alleviate one of the biggest choke points at any airport.<\/p>\n The unmanned, self-service portal combines scanning of personal effects and baggage with a passport reader and body scanner into one.<\/p>\n Gonzales says the portal eliminates a need for high staffing to monitor baggage security, while increasing efficiency without compromising on safety.<\/p>\n MX1 last year announced an extension of its contract worth up $21 million with the US Department of Homeland Security (DHS) to develop the passenger self-screen checkpoint system.<\/p>\n The contract extension enables MX1, together with its partners, to build and test fully The DHS project aims to have a fully integrated self-screening security system that is ready to transform the passenger security experience across the US\u2019s 440 airports.<\/p>\n \u201cWhat enables us to reimagine security is the small CT scanner and the first prototype of that is currently being assessed by DHS in their laboratories,\u201d Gonzales says.<\/p>\n \u201cWe\u2019re doing data collection and imaging lots of potentially suspect items in every way possible so we can build artificial intelligence (AI) based on that.<\/p>\n \u201cWe\u2019ve delivered one prototype CT scanner to the government and hopefully in the next few months will build a second for the government.\u201d<\/p>\n Gonzales says MX1 then plans to build a third protype that will come together with the whole module. The goal by the end of CY24 is that the first prototype self-screening module will be in a different lab for testing as an integrated system.<\/p>\n \u201cIt\u2019s a lab they\u2019ve set up that mimics an airport and they can bring in real operators, they have metrics they\u2019re interested in and from there we will build out additional modules,\u201d he says.<\/p>\n \u201cHopefully, between a year-and-a-half to two years from now they\u2019ll be in real airport testing.<\/p>\n \u201cWe have the opportunity in both the lab and in an airport to refine a solution that meets everyone\u2019s needs because it\u2019s about improved security, improved passenger experience, improved officer efficiency.\u201d<\/p>\n Gonzales says the tech has been proven at the base level but it\u2019s now about building up its capability.<\/p>\n \u00a0<\/p>\n MX1 received the first order for its Argus improvised explosive devices (IED) X-ray camera unit for improved bomb detection from a UAE company promoting themselves as an early adopter of innovative tech for national security applications in March 2024.<\/p>\n Argus improves on the usual dangerous practice for detecting a bomb, where a technician must approach the suspect device or package to get a detector plate behind it to X-ray the contents without moving the device itself.<\/p>\n MX1\u2019s Argus \u2013 about the size of a large cereal box \u2013 enables bomb disposal technicians to safely image suspect packages remotely with greater clarity than ever before with the camera able to be deployed safely by an unmanned ground vehicle (UGV) or robot.<\/p>\n The Argus has attracted interest from key global players in the defence sector including the FBI, US military and police departments following successful field tests.<\/p>\n \u201cIt is a disruptive technology changing the way people have operated in the IED identification space,\u201d Hall says.<\/p>\n \u201cIt\u2019s quite beneficial to leave units with organisations to trial them.\u201d<\/p>\n MX1 recently completed a $4m placement at 9.5 cents\/share and conducted a SPP closing on May 23, which is expected to raise a further $1m. Hall says funds raised will help to build up a pool of units for demonstration and trial.<\/p>\n \u201cNot only has Argus been seen as safe to use but we\u2019ve been able to identify additional adjacent use cases such as a search market so looking for contraband, hidden weapons or drugs that are hidden in cars or walls,\u201d he says.<\/p>\n \u201cBecause it is robot deployable Argus can do things that traditional X-rays can\u2019t because they can\u2019t get to some of the locations.<\/p>\n \u00a0<\/p>\n There is also an extensive use case for MX1\u2019s technology in the medical field. The company is developing world-first point of care miniature brain CT scanner to detect strokes in ambulances before reaching a hospital.<\/p>\n The technology funded through $8m of a $40m grant awarded to the Australian Stroke Alliance under the Australian Government\u2019s Medical Research Future Fund.<\/p>\n The company is also making strong progress with its Mobile Digital Radiology (DR) business unit that includes sales of its Rover Plus and Rover x-ray systems.<\/p>\n In its recent quarterly update MX1 reported the Mobile DR business unit had recorded $5.3m in revenues for FY24, up 120% on pcp and 40% on full year revenues for FY23 as the business continues to achieve its target to be self-sustaining.<\/p>\n \u201cWe\u2019ve got a better margin than we have with Rover in the past and the price point is better,\u201d Hall says.<\/p>\n \u201cWe now sell exclusively the Rover Plus, which is the high-powered version with the high-voltage generator we make ourselves.\u201d<\/p>\n \u00a0<\/p>\n It\u2019s been 12 months since Hall stepped into the role of CEO from CFO and Gonzales also took on the additional role of CEO of Micro-X Inc.<\/p>\n \u201cOur company has always been really highly regarded for our development capability,\u201d Hall says.<\/p>\n \u201cBut what has been important is to lift our commercial expertise and performance to match that of the development team and progress we\u2019ve made in this area over the past 12 months has been high.<\/p>\n \u201cSales are stronger, the business is tighter from a cost perspective, we\u2019re putting our money into areas we really needed to be so development capability and recently appointed a chief sales officer in the US to build a strong sales and customer focus.\u201d<\/p>\n \u00a0<\/p>\n <\/span><\/span> The post How Micro-X\u2019s game-changing tech is transforming the X-ray market<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Reimaging airport security<\/h2>\n
\nintegrated self\u2010screening stations in live US airport environments with travelling passengers.<\/p>\nImproving bomb detection<\/h2>\n
Medical use case<\/h2>\n
Lifting commercial expertise<\/h2>\n
The MX1 share price today:<\/h2>\n\n
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