Astrotech Corporation develops instrumentation businesses built around mass spectrometry and gas chromatography technologies through wholly owned subsidiaries. News about ASTC commonly covers 1st Detect and its TRACER 1000 trace detection systems for aviation security, explosives screening, and narcotics detection, including regulatory certifications, deployments, and security-market applications.
Company updates also address AgLAB process analyzers for agriculture products, Pro-Control industrial chemical process control, BreathTech breath-analysis work for volatile organic compounds, and EN-SCAN portable environmental GC-MS for field testing of air, water, and soil. Recurring releases include fiscal results, research and development progress, sales activity, leadership appointments, and board-level strategic or governance actions.
Astrotech (ASTC) has submitted a proposal developed with Skycorp to NASA for development of lunar power infrastructure under NextSTEP-3. The Astrotech Vertical Solar Array Maturation project targets advancing elements of its Mobile Power System from Technology Readiness Level 4 to 6 through design, prototype integration and environmental testing.
Selection would trigger a proposed development and demonstration effort, expected to culminate in an integrated system test at Astrotech's Austin facilities. Skycorp would lead engineering and technical development; Astrotech would provide facilities, procurement and program financial management. Astrotech also plans to evaluate and potentially develop Lunar Utilities Corporation to offer commercial power and robotic charging services to NASA and private customers. The submission is not a NASA award or funding commitment.
Innventure (NASDAQ: INV) has appointed Eric Stober Chief Financial Officer, bringing finance, accounting, investor relations and communications under his leadership.
Stober succeeds David Yablunosky, who stepped down effective October 19, 2026, and will serve as a consultant during a transitional period. Stober also assumes responsibilities previously overseen by Chief Growth Officer Roland Austrup, whose service ends October 31, 2026, as the company consolidates these functions. Stober most recently served as CFO of Capital Factory and previously spent nine years as CFO of Astrotech.
Astrotech (ASTC) reported fiscal 2026 revenue of $913,000 for the year ended June 30, 2026.
Revenue was $1.049 million a year earlier, while gross profit fell to $217,000 from $475,000. Operating expenses were $14.355 million, down from $15.209 million, but the net loss widened to $14.427 million from $13.850 million. Cash and cash equivalents plus short-term investments totaled $11.3 million at June 30, 2026. Stockholders’ equity was $16.172 million, down from $22.100 million a year earlier.
Astrotech had deployed its TRACER 1000 at approximately 37 locations in 16 countries as of June 30, 2026, and launched the Labrador handheld gas chromatograph. Its board also approved an initiative through the newly formed Lunar Power and Light subsidiary to explore potential lunar resource and infrastructure opportunities.
Innventure (INV) is sharpening its focus on increasing the value of its interest in Accelsius, executing substantial parent-level cost cuts, and reshaping its leadership and Board structure as of September 2026.
The company expects quarterly parent-level cash expenses to decline to approximately $3.2 million by year-end 2026, from $7.5 million at the beginning of 2026, a reduction of about 56%, excluding debt service, severance, litigation and other non-recurring items. Since early Q2 2026, parent-level headcount and operating expenses have been significantly reduced. Eric Stober will become Chief Financial Officer on October 19, 2026, replacing David Yablunosky, who will move to an advisory role. The Board appointed Michael Madon as an independent director effective September 28, 2026, while Michael Otworth and John Hewitt resigned from the Innventure Board on September 18, 2026, reducing its size to seven directors, six of whom will be independent.
Astrotech (Nasdaq: ASTC) has formed a Strategic Advisory Board and appointed four inaugural members – Dennis Wingo, Maj. Gen. (Ret.) John M. Olson, Ph.D., Clive R. Neal, Ph.D., and Gregory R. “Greg” Baiden, Ph.D. According to Astrotech, the advisors will support its planned proposal under NASA’s NextSTEP-3 Appendix A: Lunar Enabling Infrastructure Accelerator (LEIA) and help shape its broader lunar resources and infrastructure initiative.
The Board is expected to provide technical and strategic guidance on lunar resource mining, autonomous surface operations, materials processing, power, communications, advanced manufacturing, artificial intelligence and quantum computing as Astrotech evaluates mission architectures, partnerships and commercialization pathways. Astrotech previously submitted a proposal to NASA’s CLPS2 program and intends, subject to final solicitation and internal approvals, to submit one or more Appendix A proposals, which the company notes are not NASA selections or funding commitments and remain contingent on obtaining appropriate financing.
Astrotech (Nasdaq: ASTC) announced that its wholly owned subsidiary, Lunar Power and Light (LP&L), plans to develop a commercial lunar electric utility at a high-illumination polar site. The proposed network would combine vertically elevated, sun-tracking solar towers, utility-scale and local battery storage, autonomous controls, surface transmission and distribution, metering and recharge stations to provide shared power for future governmental and commercial customers.
Using a preliminary 90% annual solar-access case, LP&L estimates about 7,884 hours of direct solar access and 876 hours of full or partial battery support per 8,760-hour Earth year, as a planning assumption only. LP&L is evaluating participation in NASA’s draft LEIA program to mature its vertical solar-tower technology. The project remains in early evaluation, with no site, capacity, launch schedule, costs, financing, customer contracts or regulatory approvals yet announced.
Gravitics appointed Philip Wong as Chief Financial Officer to lead finance, capital strategy, and growth initiatives as the company scales its Orbital Carrier, Viper OTX, and cargo delivery programs. Wong, reporting to CEO Colin Doughan, brings over 30 years of experience across aerospace, communications, and data infrastructure, including senior roles at Viasat, Pure Storage, and Seagate Technology.
Gravitics also detailed its broader leadership structure: Jim Royston heads technical architecture and advanced programs; Michael Bowker, now Chief Business Officer, leads business development and government relations; and Andy Jones oversees engineering, program management, supply chain, and manufacturing. The team is focused on scaling spacecraft manufacturing, executing a STRATFI contract with the U.S. Space Force, and developing a cargo delivery system with Axiom Space as first customer and partner.
Astrotech (Nasdaq: ASTC) has expanded its Board of Directors from five to six members and appointed Matt Kreps as a new director. According to the company, Kreps adds extensive capital markets and investor relations experience from roles at HydroGraph Clean Power, Darrow Associates, Shelton Group, Magnolia Investor Relations, and Halliburton.
Kreps holds an Executive MBA in Global Leadership from the University of Texas at Dallas and a BS in Mass Communications from Kansas State University. Astrotech’s leadership expects his background and institutional investor relationships to support its strategy in lunar resource development and the mass-spectrometry industry.
Astrotech (Nasdaq: ASTC) submitted a proposal to NASA’s Commercial Lunar Payload Services 2 (CLPS2) program. The Phase 1 proposal seeks about $20 million in non-dilutive funding for lunar mining and materials-processing technology demonstrations.
The initiative supports Astrotech’s long-term lunar industrial strategy, leveraging its prior Shuttle-era spaceflight heritage.
Astrotech (Nasdaq: ASTC) approved a potential sale process for subsidiary 1st Detect, developer of the TRACER 1000 mass spectrometry explosives and narcotics trace detector. The company is considering a sale to fund its lunar mining initiative and leverage recent regulatory milestones.
The TRACER 1000 is described as the only certified, field-deployed mass spectrometry ETD, with TSA Air Cargo approval, ECAC passenger and cargo certifications (including G1 and wand swabbing), a DHS development award, and entry into the TSA checkpoint certification process.