ScanTech AI Systems, Inc. Commends Canadian Government for Border Compliance Efforts

Atlanta, GA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems, Inc. (NASDAQ: STAI), a publicly-traded innovator of next-generation checkpoint security scanning products and technology, applauds Canada’s recent efforts to reduce cross-border contraband, including fentanyl and other drugs. ScanTech AI’s systems are currently excluded from recently announced cross-border tariff regimes and are expected to remain exempted given the mission critical nature of its technology and products. On January 14, 2025, Canada’s Department of Immigration, Refugee and Citizenship announced meaningful progress in curtailing both illegal immigration and fentanyl crossing into the United States through a $1.3 billion effort to strengthen US-Canadian border security. The Canadian government announced that it would be purchasing new checkpoint scanning and security equipment such as fixed and mobile baggage and cargo scanners and hand-held chemical analyzers to further secure North America against illegal border crossings and drug trafficking. Despite increased tensions on the trade front, Canada remains one of the United States’ most powerful allies on border security, and experts anticipate that both nations will continue to work closely together. ScanTech AI's checkpoint scanners, which are already safeguarding two of Canada’s largest nuclear power plants, employ proprietary AI-driven advanced machine learning algorithms that address emerging homeland security threats as they scan and secure everything from personal items, baggage, parcels and cargo. The company's scanners have also been deployed and successfully tested by the U.S. Transportation Security Administration (TSA) at the Philadelphia and San Diego International Airports and offer advanced CT-grade detection and imagery without the moving parts and maintenance challenges of traditional CT scanners, resulting in lower acquisition and upkeep costs. These features, combined with AI-driven threat detection, enhance the efficiency of security checkpoints making the screening process up to 4x faster while improving security and detection across the board. “We believe our CT scanning equipment will become one of the core tools in the effort to deter fentanyl at our borders and critical infrastructure,” noted Dolan Falconer, ScanTech AI’s Founder and CEO, “and we look forward to expanding our presence in Canada. In addition to our existing contracts to protect key components of Canada’s nuclear power infrastructure, we will also pursue emerging opportunities to deploy our CT scanning equipment along the US-Canada border.” ScanTech AI estimates an appropriation of up to approximately $100 million (USD) will be required to acquire the number of checkpoint scanners needed to cover the 120 legal land ports-of-entry between the US and Canada. About ScanTech AI Systems, Inc. (NASDAQ: STAI) ScanTech AI is a leading innovator of next-generation ‘zero gantry’ checkpoint security scanners for use at airport security lanes, border checkpoints, public events, and for parcel and cargo screening. ScanTech AI’s scanners already protect two of Canada’s largest nuclear power plants. While they look very much like existing checkpoint scanners, ScanTech AI’s scanners offer CT-grade detection capabilities and imagery without the moving parts, maintenance issues, and expense of traditional CT scanners. Lower acquisition and maintenance costs, the prospect of speeding up checkpoint lanes at airports and secure sites, AI-driven machine learning, and the ability to leave liquids, electronics, and everything else in bags, backpacks, parcels and other items being scanned are all central selling points for ScanTech AI. ScanTech AI’s checkpoint scanners can instantly and automatically detect many types of conventional or military explosives, weapons, drugs, cash, and other hazardous materials and contraband without the potential for human error or the use of clunky CT scanners that rely on moving parts (gantries) and 30+ year-old technology, and offer government and private sector customers greater reliability, accuracy, speed, and almost zero maintenance downtime. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (“Exchange Act”), including statements regarding ScanTech AI’s management team’s expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including possible business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Additionally, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on the current expectations and beliefs made by the management of ScanTech AI, in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effect on ScanTech AI, as well as other factors they believe are appropriate under the circumstances. There can be no assurance that future developments affecting ScanTech AI will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including product and service acceptance, regulatory oversights, research and development success, and that ScanTech AI will have sufficient capital to operate as anticipated. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of the filings of ScanTech AI (and its predecessor, Mars) with the SEC, and in the current and periodic reports filed or furnished by ScanTech AI (and its predecessor, Mars) from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on the information available to ScanTech AI as of the date hereof, and ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable securities laws. Contact ScanTech AI Systems Inc.James White, CFO jwhite@scantechibs.com Investor & Media Relations International Elite Capital Inc.   Annabelle Zhang  +1(646) 866-7928  annabelle@iecapitalusa.com

ScanTech AI Systems, Inc. Commends Canadian Government for Border Compliance Efforts

FAQ

Why Bullish?

How important is it?

Why Long Term?

Related Companies

Related News