Aug 10 2009
MSGI Security Solutions Inc. (OTCBB: MSGI), a leading international provider of proprietary solutions to commercial and government organizations, today reported that it has executed a Space Act Agreement with The National Aeronautics and Space Administration ("NASA") forming a partnership between MSGI and the Ames Research Center ("ARC") located in Moffet Field, California.
The purpose of this collaboration between MSGI and NASA is to commercialize various revolutionary technologies developed by NASA in the fields of nanotechnology and alternative energy. Our initial area of focus is on the use of chemical sensors or nanosensing technology. These wired and wireless detection systems were first developed for space exploration in 2007 and 2008 for experiments carried out on the Space Shuttle Endeavor.
MSGI is forming a number of majority owned subsidiaries, each of which will hold the rights to a specific technology and also serve as the vehicle for investment capital. NASA and MSGI will issue a joint-release in August to elaborate on the first such breakthrough in technology that is nearing prototype stage. Thereafter MSGI plans on issuing frequent updates to the investor community regarding each new subsidiary and the underlying technology with near term commercialization plans.
As part of this new venture, MSGI will be relocating to Northern California where the Company can function in a co-developer capacity and provide engineering manpower support while taking advantage of the vast resources available in Silicon Valley. The Company will also collaborate with several academic institutions in the area including Carnegie Mellon University, Stanford University and the University of California, Berkeley. MSGI is currently looking to expand their Board of Directors with distinguished members from the scientific community.
Jeremy Barbera, Chairman and CEO of MSGI commented; "on the 40th anniversary of the lunar landing we have to look back in complete awe at the extraordinary accomplishments of NASA scientists. I am particularly proud of this new partnership because my own career began at NASA Goddard Space Flight Center where I learned first hand what it meant to work for arguably the greatest minds in our nation. NASA is a wealth of innovation and opportunity and we are committed to transferring emerging technologies from the AMES Research Center into the commercial sector, for the purpose of creating value for NASA and all MSGI stakeholders "