BOSTON, July 26, 2006 (PRIMEZONE) -- Technest Holdings, Inc. (OTCBB:TCNH), a defense and homeland security company, announced today that its wholly owned subsidiary, Genex Technologies, Inc., was awarded a $900,000 contract from the Office of Naval Research (ONR) for the development of an enhanced version of its miniature remote processing unit called the Smart Optical Sensor (SOS).
Genex's new SOS, scheduled for delivery by May 2007, will provide a real-time processing platform, collocated with the actual sensor, to provide on-board processing. The unit is intended to support a wide variety of complex algorithms that can address a number of the Navy's needs for improving fleet protection. In addition, the enhanced sensor version will be used to strengthen the capabilities of Technest's existing Cerberus System and Small Tactical Ubiquitous Detection Sensor (STUDS) products, which currently incorporate the SOS.
"Our contract with the Office of Naval Research provides the opportunity to enhance the Navy's intelligence gathering capabilities, as well as protect its fleets and forces," stated Clark Lynn, Vice President at Genex Technologies. "Among the specific issues that we expect to address by our new SOS unit will be the processing of large amounts of data gathered by a series of high-resolution sensors that can be deployed, for example, around a Navy vessel or fleet of vessels, and the subsequent transmission of filtered data to command and control centers within bandwidth limitations. We are pleased to have been awarded this contract and further our relationship with the Office of Naval Research."
For more information, please visit the Genex website at www.genextech.com.
About Technest Holdings, Inc.
Technest Holdings, Inc. is a provider of: advanced remote sensor systems, chemical detectors, intelligent surveillance and advanced 3D imaging technology solutions to the defense and homeland security marketplaces. Technest is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. Technest's solutions support military, law enforcement and homeland security personnel. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields. For more information, please visit the company's website at http://www.technestholdings.com.
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