Latest news with #SAFETYActDesignation
Business Wire
3 days ago
- Business
- Business Wire
BioFlyte Awarded U.S. Department of Homeland Security SAFETY Act Designation for Qualified Anti-Terrorism Technology
ALBUQUERQUE, N.M.--(BUSINESS WIRE)-- BioFlyte, a chemical and bioaerosol surveillance firm with a disruptive new class of fieldable chemical and biological threat collection, detection, and identification solutions, today announced that the U.S. Department of Homeland Security (DHS) has awarded the company a SAFETY Act Designation for its aerosol chem/biothreat detection and identification technology. This recognition as a Qualified Anti-Terrorism Technology (QATT) underscores the proven effectiveness and reliability of BioFlyte's solutions in detecting and mitigating airborne chemical and biological threats, while providing important liability protections under the Support Anti-terrorism by Fostering Effective Technologies (SAFETY) Act of 2002. This recognition as a Qualified Anti-Terrorism Technology (QATT) underscores the proven effectiveness and reliability of BioFlyte's solutions in detecting and mitigating airborne chemical and biological threats. Share The SAFETY Act Designation affirms that BioFlyte's technology meets DHS's rigorous evaluation criteria, including high performance reliability, consistent positive operational results, and adherence to disciplined, documented processes. As part of the Designation, the company's liability, and that of its customers, is limited to the level of insurance coverage required by DHS for Designated Technologies in the event of a terrorist-driven incident. "We are honored to receive the DHS SAFETY Act Designation, which not only validates the strength and dependability of our technology but also provides meaningful protections for our customers," said Todd Sickles, CEO of BioFlyte. "This achievement reflects DHS' confidence in the reliability, predictability and consistent performance of our technology and it further differentiates BioFlyte in the marketplace." Many of BioFlyte's customer prospects have expressed strong interest in this certification, which is held by few competitors in the industry. The designation recognizes that BioFlyte's technology: Performs as intended with high confidence in continued effectiveness Produces consistent positive results with low failure and false alarm rates Meets or exceeds performance specifications Operates with proven installation, maintenance, and training procedures Adheres to documented quality standards and effective QA/QC processes This milestone follows on the heels of BioFlyte's recent U.S. Air Force SBIR Phase I award earlier this year, marking another significant step in the growing adoption of the company's technology in homeland security and public safety applications. "BioFlyte's BioTOF™ product empowers our customers with the game-changing ability to detect chemical and biological aerosols at the same time, in real-world conditions,' said Wayne Bryden Ph.D., Chief Science Officer at BioFlyte. 'With its dynamic threat library, BioTOF not only identifies emerging hazards on the spot but also captures and stores them for future defense, keeping our customers a decisive step ahead." About BioFlyte BioFlyte is a chem/bioaerosol surveillance company that is commercializing a revolutionary new class of fieldable chemical and biological contamination sampling, detection, and identification solutions. The firm's current market focus is critical infrastructure protection and mail screening in both the government and commercial sectors. For more information about BioFlyte and its products, please visit:
Business Wire
30-07-2025
- Business
- Business Wire
Evolv Technology Secures Up to $75 Million in Non-Dilutive Debt Financing
WALTHAM, Mass.--(BUSINESS WIRE)--Evolv Technologies Holdings, Inc (NASDAQ: EVLV), a leading security technology company pioneering AI-based solutions designed to help create safer experiences, today announced that it has entered into a new $75 million credit facility with MidCap Financial, consisting of a $60 million tranched term loan ($30 million of which was drawn at close with an additional $30 million available to be drawn at the Company's sole discretion over the next two years) and a $15 million undrawn revolving credit facility. The Company's agreement includes a five-year maturity for both facilities. The annual interest rate on each is equal to SOFR plus a margin of 5.25%. Proceeds from the new facility will be used for general corporate purposes, including in large part, to support growing long-term demand for the Company's subscription sales model. Through this model, customers lease the Company's purpose-built physical security hardware and enter into multi-year security-as-a-service subscriptions to operate that hardware. Management believes this model enhances revenue visibility, deepens customer relationships, and supports long-term margin expansion. As of June 30, 2025 – prior to the closing of the new credit facility – the Company had total cash, cash equivalents, and marketable securities of approximately $37 million compared to $35 million as of March 31, 2025. 'We're pleased to partner with MidCap Financial on this new credit facility, which provides non-dilutive capital on favorable terms to support the continued growth of our business,' said Mr. Chris Kutsor, Chief Financial Officer of Evolv Technology. 'We believe this facility further strengthens our balance sheet and provides enhanced flexibility to meet the increasing demand for our long-term subscription model. We're excited to work with the MidCap Financial team as we enter our next stage of growth.' Houlihan Lokey served as financial advisor to the Company on the transaction. Additional details regarding the financing are available in the Company's Current Report on Form 8-K, filed today with the U.S. Securities and Exchange Commission. About Evolv Technology Evolv Technologies Holdings, Inc (NASDAQ: EVLV) is designed to transform human security to make a safer, faster, and better experience for the world's most iconic venues and companies as well as schools, hospitals, and public spaces, using industry leading artificial intelligence (AI)-powered screening and analytics. Its mission is to transform security to create a safer world to live, work, learn, and play. Evolv has digitally transformed the gateways in many places where people gather by enabling seamless integration combined with powerful analytics and insights. Evolv's advanced systems have scanned more than two billion people since 2019. Evolv has been awarded the U.S. Department of Homeland Security (DHS) SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT) as well as the Security Industry Association (SIA) 2024 New Products and Solutions (NPS) Award in the Law Enforcement/Public Safety/Guarding Systems category, as well as Sport Business Journal's (SBJ) 2024 awards for 'Best In Fan Experience Technology' and 'Best In Sports Technology'. Evolv®, Evolv Express®, Evolv Insights®, Evolv Visual Gun Detection™, Evolv eXpedite™, and Evolv Eva™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit About MidCap Financial MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of March 31, 2025, MidCap Financial provides administrative or other services for approximately $55 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc., pursuant to an investment management agreement. Apollo had assets under management of approximately $785 billion as of March 31, 2025. For more information about MidCap Financial, please visit For more information about Apollo, please visit (*Including $6.9 billion of commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV.) Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release and related presentation materials other than statements of historical facts, including without limitation, statements regarding our expectations of and use of proceeds from the credit facility, and our subscription sales model. Words such as 'believe,' 'may,' 'will,' 'expect,' 'should,' 'could,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'project,' 'plan,' 'target,' 'forecast,' 'is/are likely to' or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. The forward-looking statements in this press release and related presentation materials are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the amount of insurance reimbursements expected to be received for defense costs for counsel and consultants in connection with the securities litigation and related Securities and Exchange Commission (the 'SEC') and Department of Justice matters, and the following: our history of losses and ability to reach profitability; our reliance on reseller partners to generate a growing portion of our revenue; expectations regarding the Company's strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures; the Company's reliance on third party contract manufacturing and distribution, and a global supply chain; the Company recognizes a substantial portion of its revenue ratably over the term of its agreements, and, as a result, downturns or upturns in sales may not be immediately reflected in its operating results; the rate of innovation required to maintain competitiveness in the markets in which the Company competes; the competitiveness of the market in which the Company competes; the failure of our products to detect threats could result in injury or loss of life, which could harm our brand, reputation, and results of operations; the loss of designation of our Evolv Express® system as a Qualified Anti-Terrorism Technology under the Homeland Security SAFETY Act; risks related to our business model, which is predicated, in part, on building a customer base that will generate a recurring stream of revenues through the sale of our subscription contracts; the ability for the Company to obtain, maintain, protect and enforce the Company's intellectual property rights and use of 'open source' software; the concentration of the Company's revenues on a single solution; the Company's ability to timely design, produce and launch its solutions, the Company's ability to invest in growth initiatives and pursue acquisition opportunities; the limited liquidity and trading of the Company's securities; risks related to existing and changing tax laws; geopolitical risk and changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; operational risk; risks related to material weaknesses in our internal control over financial reporting and our remediation plans; risks related to increasing attention to and evolving expectations for, environmental, social, and governance initiatives; the impact of fluctuating general economic and market conditions and reductions in spending; the need for additional capital to support business growth, which might not be available on acceptable terms, if at all; and litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on resources. These and other important factors discussed under the caption 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on April 28, 2025 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. The forward-looking statements in this press release and related presentation materials are based upon information available to us as of the date hereof, and while we believe such information forms a reasonable basis for such statements, it may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. You should review this press release and the documents that we reference in this press release and related presentation materials with the understanding that our actual future results, levels of activity, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release and related presentation materials, whether as a result of any new information, future events or otherwise.
Business Wire
07-07-2025
- Business
- Business Wire
Evolv Technology to Release Second Quarter Financial Results on August 14, 2025
WALTHAM, Mass.--(BUSINESS WIRE)--Evolv Technologies Holdings, Inc (NASDAQ: EVLV), a leading security technology company pioneering AI-based solutions designed to help create safer experiences, today announced that the Company will release financial results for the second quarter of 2025 on Thursday, August 14, 2025, after the market closes. Members of the Company's management team plan to host a live webcast at 4:30 p.m. Eastern Time on that day to discuss the financial results as well as management's outlook for the business. The conference call will be webcast live at About Evolv Technology Evolv Technologies Holdings, Inc (NASDAQ: EVLV) is designed to transform human security to make a safer, faster, and better experience for the world's most iconic venues and companies as well as schools, hospitals, and public spaces, using industry leading artificial intelligence (AI)-powered screening and analytics. Its mission is to transform security to create a safer world to live, work, learn, and play. Evolv has digitally transformed the gateways in many places where people gather by enabling seamless integration combined with powerful analytics and insights. Evolv's advanced systems have scanned more than two billion people since 2019. Evolv has been awarded the U.S. Department of Homeland Security (DHS) SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT) as well as the Security Industry Association (SIA) 2024 New Products and Solutions (NPS) Award in the Law Enforcement/Public Safety/Guarding Systems category, as well as Sport Business Journal's (SBJ) 2024 awards for 'Best In Fan Experience Technology' and 'Best In Sports Technology'. Evolv®, Evolv Express®, Evolv Insights®, Evolv Visual Gun Detection™, Evolv eXpedite™, and Evolv Eva™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit
Yahoo
21-05-2025
- Yahoo
Texas charter school deploying AI software that can detect guns via camera feed; how it works
AUSTIN (KXAN) — Artificial intelligence is integrating into the daily lives of Texans more and more as the state is believed to be poised as one of the nation's leaders in AI and technology. One company, founded in 2018 by a group of Navy SEALs, is using AI to expand safety against the threat of firearms in schools. ZeroEyes uses AI to detect the presence of guns spotted by surveillance cameras. It was the first AI-based gun detection video analytics platform to earn the full U.S. Department of Homeland Security SAFETY Act Designation. RELATED | Schools are turning to artificial intelligence to spot guns On Tuesday, Ki Charter became the first charter school system in Texas to deploy the software. 'We serve a student population that requires an exceptional level of care and security, and I was initially skeptical of ZeroEyes, but after seeing the technology in action, I knew we needed it,' Superintendent Jerry Lager said in a press release. 'Our largest campus spans 65 open acres, making security a complex challenge. ZeroEyes provides that extra layer of protection, ensuring our students and staff are in a safe environment.' Ki Charter has campuses in San Marcos, Liberty Hill, Austin, Temple, Arlington, Fort Worth, Denton, and Kingwood, and serves over 6,500 students annually. According to its website, the school system 'is the premier educational provider for students who reside in residential facilities (RFs) and day centers.' Ki Charter 'reduces learning gaps to help students learn behavioral management strategies and improve their communication skills,' per its website. Co-founder Sam Alaimo said it took about two years to build the algorithm that ZeroEyes uses. The software is layered onto existing digital security cameras to detect guns. If a gun is identified by the software, images are shared with the ZeroEyes Operations Center, which Alaimo said was modeled after the military's Tactical Operations Center. The operations center is the industry's only U.S.-based, fully in-house operations center, which is staffed 24/7 by specially trained U.S. military and law enforcement veterans, according to the company. If experts in the operations center determine a threat and notify law enforcement and school security, they include information like a visual description, gun type, and last known location when sending those alerts. Alaimo broke down the process: '[The] algorithm says, 'I think it's a gun.' Human verifies it's a gun, hits dispatch. Client gets the alert.' That happens in just a few seconds. 'So in the real world, on schools, subway platforms, shopping malls, you name it, once that gun is exposed in front of a client camera, within about three to five seconds, that client will get that image, as well as local law enforcement. And what we're trying to do is cut through the fog of war,' Alaimo said. 'It's like a pure situational awareness tool.' Alaimo said ZeroEyes helped prevent a potential tragedy in Texas last year when three people showed up at an elementary school with AK-47s. 'This is what we're in the business of detecting,' Alaimo said. 'We detect guns every single week at this point, and it's an interesting position to be in, because when we send an alert like this, and people get arrested, there is no mass shooting. So we can't quantify how many mass shootings didn't happen as a result of our software working.' Alaimo said the company was founded after the 2018 Parkland, Florida, mass shooting at Marjory Stoneman Douglas High School. 'We were all kind of commiserating on, hey, we need to do something meaningful again. We want to be of service again,' Alaimo said. 'And in 2018, the Parkland shooting happened, and that was when America did a bit more introspection after one of these massive shootings, and decided that we wanted to do something about it.' 'So we all quit our jobs and decided to found ZeroEyes with the intent to keep kids safe from mass shootings,' Alaimo continued. 'And we started the company, bootstrapped it. It took about two years to build the algorithm, and we finally had it ready to go to market in 2020.' Alaimo said the software had 'a lot of good traction with K-12' at the time, but the COVID-19 pandemic derailed the company's plans because of schools going into lockdown. At that point, ZeroEyes went into the commercial space, which Alaimo said was 'a good move.' 'We found that, you know, identifying guns in subway platforms and in grocery stores and on Navy bases actually made us better at identifying guns in a school environment,' he said. 'So… there's a lot of ways that training the algorithm in very diverse environments strengthens it.' In 2021, ZeroEyes founders were able to get back to their passion of 'keeping kids safe.' Now, the software is deployed across 46 states in K-12 schools, in higher education, and in various commercial spaces. The cost of implementing the software depends on the needs of the client. Pricing is primarily based on the number of camera streams that will have ZeroEyes installed, according to its website. 'It usually goes between 20 and $60 per camera stream per month, higher if it's a small [number of cameras], what, like, 25 camera streams for one year, and much, much lower if it's a large number of cameras over, over three or five years,' Alaimo explained. Alaimo said because it's a new technology that not many schools have the money budgeted for, ZeroEyes has grant writers on staff to help schools find the money to pay for it. The company also works with legislators and will lobby governments, he said. 'Money shouldn't be the reason why a school does not have our software. So for that reason, we actually have grant writers on staff to help schools find the money,' Alaimo said. 'And that's one of the reasons we try to work with legislatures as often as we can, because once they know we exist, then it's like, all right, how do we get money to get them out there?' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Associated Press
20-05-2025
- Business
- Associated Press
Ki Charter Becomes First Charter School in Texas to Deploy ZeroEyes AI Gun Detection Technology
Advanced AI Solution Enhances Campus Safety by Providing Proactive Gun Detection and Intelligent Situational Awareness PHILADELPHIA, May 20, 2025 /PRNewswire/ -- ZeroEyes, the creators of the first AI-based gun detection video analytics platform to earn the full US Department of Homeland Security SAFETY Act Designation, today announced that its solution has been deployed by Ki Charter to safeguard students, faculty and staff against gun-related threats. It is the first charter school in Texas to adopt the industry-leading proactive gun detection and intelligent situational awareness technology. Serving a unique population of behaviorally challenged students, Ki Charter has adopted multiple technologies and de-escalation techniques to ensure the safety of its students and personnel. Its Safety and Security Committee assesses and refines policies and safety measures, while the Campus Safety and Threat Assessment teams work closely with law enforcement and mental health resources to prevent and mitigate potential threats. The deployment of ZeroEyes' AI technology further strengthens this comprehensive security strategy by providing real-time gun detection capabilities. 'We serve a student population that requires an exceptional level of care and security, and I was initially skeptical of ZeroEyes,' said Jerry Lager, Superintendent of Ki Charter. 'But after seeing the technology in action, I knew we needed it. Our largest campus spans 65 open acres, making security a complex challenge. ZeroEyes provides that extra layer of protection, ensuring our students and staff are in a safe environment.' Ki Charter is the premier educational provider for students who reside in residential facilities (RFs) and day centers across Texas. The school has campuses in San Marcos, Liberty Hill, Austin, Temple, Arlington, Fort Worth, Denton, and Kingwood, and serves over 6,500 students annually (500% mobility rate) with a dedicated team of more than 120 educators and staff. With small class sizes and engaging curriculum, Ki Charter reduces learning gaps to help students learn behavioral management strategies and improve their communication skills. ZeroEyes' AI gun detection and intelligent situational awareness software layers onto existing digital security cameras. If a gun is identified, images are instantly shared with the ZeroEyes Operations Center (ZOC), the industry's only U.S.-based, fully in-house operation center, which is staffed 24/7/365 by specially trained U.S. military and law enforcement veterans. If these experts determine the threat is valid, they dispatch alerts and actionable intelligence — including visual description, gun type, and last known location — to local law enforcement and school security as quickly as 3 to 5 seconds from detection. 'At ZeroEyes, we understand the complexities of protecting students in specialized environments like Ki Charter,' said Mike Lahiff, CEO and co-founder of ZeroEyes. 'We're proud to offer our AI gun detection technology as an additional layer of security to help protect students, faculty, and staff in this unique setting.' About ZeroEyes ZeroEyes delivers a proactive, human-verified AI gun detection software solution that integrates into existing digital security cameras and helps to mitigate mass shootings and gun-related violence by reducing response times, providing actionable intelligence with images, and delivering clarity among chaos — ultimately saving lives. ZeroEyes' patented solution has been recognized by the U.S. Department of Homeland Security (DHS) as an effective anti-terrorism technology and was the first AI-based gun detection technology to receive full SAFETY Act Designation. Founded by Navy SEALs and elite technologists, ZeroEyes dispatches accurate and real-time actionable intelligence about the illegal brandishing of a gun near or in an occupied area or building, to local staff and law enforcement with an image of the shooter(s) and location of the threat, as quickly as 3 to 5 seconds from the moment the gun is detected. The ZeroEyes team also provides tech consulting, installation assistance, and practice drills for active shooter events to enhance safety at schools, corporate, and government facilities. Headquartered in the Greater Philadelphia area, the company's affordable and effective gun detection solution has been adopted by the US Department of Defense, leading public K-12 school districts, colleges/universities, healthcare facilities, commercial property groups, manufacturing plants, Fortune 500 corporate campuses, shopping malls, big-box retail stores and more. Learn more about ZeroEyes at View original content to download multimedia: SOURCE ZeroEyes
