ScanTech AI Systems Secures TIPS Contract, Unlocking $100M Market Opportunity

What's Going On With ScanTech Ai Shares Today? - ScanTech AI Systems (NASDAQ:STAI)

Shares of ScanTech AI Systems Inc. STAI are trading higher Tuesday after the company entered into a procurement contract with Creeksource Consulting LLC, enabling ScanTech AI to offer its advanced screening technologies through The Interlocal Purchasing System (TIPS). This contract allows government agencies, municipalities, schools and nonprofit organizations to purchase ScanTech's products via a nationally recognized cooperative purchasing platform. The partnership is expected to streamline procurement processes for public entities while opening up what the company estimates to be a $100 million addressable market. According to the announcement, there are more than 3,000 county courthouses and approximately 13,000 municipal courthouses across the United States, many of which are considered critical infrastructure. Trending Investment OpportunitiesAdvertisementArrivedBuy shares of homes and vacation rentals for as little as $100. Get StartedWiserAdvisorGet matched with a trusted, local financial advisor for free.Get StartedPoint.comTap into your home's equity to consolidate debt or fund a renovation.Get StartedRobinhoodMove your 401k to Robinhood and get a 3% match on deposits.Get Started STAI Price Action: ScanTech shares were up 87.6% at $1.25 at the time of writing, according to Benzinga Pro. Read Next: CyberArk Stock Slips Despite Strong Q1 Growth In Subscriptions And Raised 2025 Outlook Image Via Shutterstock. STAIScanTech AI Systems Inc$1.2485.2%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentumN/AGrowthN/AQualityN/AValue12.10Price TrendShortMediumLongOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

ScanTech AI Unlocks Potential $100M Market Opportunity Through TIPS Procurement Contract with Creeksource Consulting

New Procurement Pathway Enhances Access to ScanTech AI Solutions for Public Sector Agencies Nationwide Through TIPS Cooperative Atlanta, GA, July 29, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (the "Company" or "ScanTech AI") (Nasdaq: STAI), a leading innovator in advanced security screening technologies, announced today it will offer its technologies through an The Interlocal Purchasing System (TIPS) contract that it entered into with Creeksource Consulting LLC. This enables eligible government entities, educational institutions, municipalities, and nonprofits to potentially purchase ScanTech AI's solutions via the TIPS national purchasing cooperative. Through the Teaming Agreement with Creeksource, an approved TIPS vendor, ScanTech AI aims to streamline procurement, minimize administrative burden, and ensure alignment with public sector procurement standards. "TIPS provides a trusted and efficient pathway for government clients to access advanced screening technologies," said Dolan Falconer, Chief Executive Officer of ScanTech AI. "Through our partnership with Creeksource Consulting, we aim to expand market access and making it easier for agencies to deploy our solutions quickly and compliantly." With more than 3,000 county courthouses, approximately 13,000 municipal courthouses, and thousands of additional municipal facilities classified as critical infrastructure across the United States, the TIPS contract collaboration opens access to an estimated $100 million addressable market for ScanTech AI. This procurement pathway better positions the Company to scale deployments efficiently, potentially accelerating access to its smart screening systems across government-operated facilities nationwide. About ScanTech AI ScanTech AI Systems Inc. (Nasdaq: STAI) has developed one of the world's most advanced non-intrusive 'fixed-gantry' CT screening technologies. Utilizing proprietary artificial intelligence and machine learning capabilities, ScanTech AI's state-of-the-art scanners accurately and quickly detect hazardous materials and contraband. Engineered to automatically locate, discriminate, and identify threat materials and items of interest, ScanTech AI's solutions are designed for use in airports, seaports, borders, embassies, corporate headquarters, government and commercial buildings, factories, processing plants, and other facilities where security is a priority. This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended ("Exchange Act"), including statements regarding ScanTech AI's management team's expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including market opportunities and access, contracts and other possible opportunities as a result of the TIPS contract, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on the current expectations and beliefs made by the management of ScanTech AI, in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effect on ScanTech AI, as well as other factors they believe are appropriate under the circumstances. There can be no assurance that future developments affecting ScanTech AI will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including product and service acceptance, regulatory oversights, research and development success, and that ScanTech AI will have sufficient capital to operate as anticipated. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the filings of ScanTech AI (and its predecessor, Mars) with the U.S. Securities and Exchange Commission (the "SEC"), and in the current and periodic reports filed or furnished by ScanTech AI (and its predecessor, Mars) from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on the information available to ScanTech AI as of the date hereof, and ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable securities laws.