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QRSciences wins federal grant

PERTH technology company QRSciences has secured a Federal Government R&D Start grant to support the continued development and commercialisation of its innovative explosive detection system. The $2.8 million grant will be used to fund works at QR’s research and development facility in Cannington. “This grant will support ongoing innovation and feed directly into the development of our next generation core technology,” the company’s chief executive Kevin Russeth said. QRSciences recently advised the Australian Stock Exchange that it expected to earn revenue between $3 million and $5 million through to the end of the 2006 financial year. Its revenue comes from a mix of sources, including contract research and grants from government and commercial sources, product sales and engineering services. "There continues to be high demand from the broader security industry for advanced explosive detection solutions," said Mr Russeth, who has recently relocated to the US to be closer to customers. The lead application for QR’s technology is likely to be in airports, where its explosive detection system is designed to supplement existing x-ray security systems.

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