BOSTON, March 19, 2007 (PRIME NEWSWIRE) -- Technest Holdings, Inc. (OTCBB:TCNH), a defense and homeland security company, announced today it received an award from the Department of Defense to fund a Phase I Small Business Innovation Research ("SBIR") grant for research and development of 3D-Nav, the Company's three-dimensional terrain modeling sensor-display system that may improve navigation of helicopter landings during brown-out conditions.
The 3D-Nav system will conduct three-dimensional terrain modeling to facilitate safe landings under brown-out conditions. During the landing process, the 3D-Nav system will automatically display and update the terrain model in real time while generating the navigation control signals needed to avoid obstacles and rollovers.
Brown-out conditions occur when a helicopter's rotors stir up dust from the ground, reducing visibility and causing vertigo in some pilots. Brownouts have affected desert air missions during recent military campaigns in both Afghanistan and Iraq.
"We look forward to working with the Department of Defense to further research innovative technologies that improve helicopter navigation during sub-standard conditions. Our novel 3D-Nav design leverages our extensive experience in both 2-D and 3-D imaging hardware and software development," stated Dr. Joseph P. Mackin, CEO of Technest Holdings. "This technology has many practical military applications for use in ground and aerial vehicle navigation and collision avoidance. These applications include autonomous aircraft navigation and landing control, ground vehicle navigation in temporary brown-out conditions, military surveillance, and commercial 3-D modeling."
About Technest Holdings, Inc.
Technest Holdings, Inc. is a provider of: advanced remote sensor systems, chemical detectors, intelligent surveillance and advanced 3-D 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.
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 services, 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; our capabilities; 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. http://www.sec.gov
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