Company Summary: ScanTech AI Systems Inc.

Overview

• Company Name: ScanTech AI Systems Inc.
• Incorporation: Delaware, formed on July 20, 2023.
• Business Focus: Development and deployment of security scanning systems to protect travelers and the public from threats like explosives, weapons, narcotics, and contraband.

Core Technology

• Product: Proprietary fixed-gantry Computed Tomography (CT) screening system.
• Technology: CT imaging that uses multiple fixed X-ray generators and detectors to produce 3D visualizations of scanned objects.
• Advantages Over Competitors: Modular design, improved image quality, increased throughput (processing 400-800 bins/hour), operation on standard 120V power, plug-and-play installation.
• Software: Proprietary AI/ML modules under development to enhance threat identification, including synthetic data libraries, virtual baggage creation, and automated ground truthing.

Main Product – SENTINEL Scanner

• Designed for security checkpoints at airports.
• Features: Modular, reliable, low maintenance, high-resolution images, automatic threat detection software (ATI and RTB modules).
• Certifications:_completed TSA Tier 2 Explosive Detection Standard in March 2018.
• Certification Goals: In advanced stages for TSA’s APSS 6.2 Explosive Detection Standard and ECAC’s EDSCB, but not yet completed.

Market & Industry

• Initial Focus: Domestic and international aviation checkpoints.
• Additional Markets: Border crossings, seaports, military bases, embassies, federal buildings, prisons, postal facilities, and private venues like manufacturing plants, entertainment venues, power plants, petrochemical facilities, stadiums, schools, and more.
• Market Size:
  • Total accessible market over 5 years: approximately $17.8 billion (including $8.5B aviation + $9.3B infrastructure).
  • Estimated market share targeted: 4.3%, or about $810 million.
  • Industry growth: Global security screening market projected to grow from $7.6 billion (2024) to $10.5 billion (2029) at around 6.6% annually.
  • Infrastructure protection market estimated to reach $177 billion by 2030.

Customers & Revenue

• Number of Shares Outstanding (as of March 31, 2025): 25,609,510 shares of common stock.
• Ownership Post-Transaction:
  • Former ScanTech unit holders: approximately 75.8%.
  • Former Mars security holders: approximately 24.2%.
• Revenue & Funds:
  • Gross proceeds from business combination: approximately $10.27 million.
  • Includes $3 million in transaction financing.
  • Cash and proceeds expected to fund operations into 2025.

Employees

• Headcount: Approximately 15 full-time employees, all based in Buford, Georgia.

Business Strategy

• Focus on obtaining necessary certifications (TSA APSS 6.2 & ECAC EDSCB).
• Expand manufacturing and sales capabilities.
• Collaborate with strategic distribution and manufacturing partners globally.
• Target market share of about 4.3% of the estimated $17.8 billion accessible market over five years.

Summary

ScanTech AI develops advanced fixed-gantry CT security scanners for airport and critical infrastructure security. They are in the certification process for key standards, aim for commercial deployment across various security-sensitive sectors, and are targeting substantial market share in a rapidly growing industry, with a small team of 15 employees and recent revenue of approximately $10 million from the business combination.