Passport Systems Closes C-Round of Venture Capital Funding

Billerica, Mass. — January, 2008 - Passport Systems, Inc., announced it closed a $10-million C-Round of funding to complete development and begin initial marketing of the Passport inspection technologies.

About Passport Systems
Passport Systems was founded in December 2002 to develop the next generation of systems for scanning the contents of sea and air cargo containers. Developed at MIT by company co-founder Professor William Bertozzi, nuclear resonance fluorescence (NRF) imaging is a highly accurate technology that automatically and rapidly detects the existence of nuclear devices, radiological or "dirty bombs," explosives, chemical weapons and other contraband. NRF identifies these threats by scanning the constituent chemical elements of the contents of a cargo container, vehicle or suitcase. This technology positively identifies the contents of a container or suitcase without having to open it and does not depend on a human operator attempting to make a visual identification of possible threats. NRF technology has been licensed exclusively to Passport Systems by MIT. Professor William Bertozzi remains a senior professor of physics at MIT, as well as technical advisor to the Passport Systems team.

For further information contact:
Gustavo Bottan
Passport Systems
978-263-9900