8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 3, 2010

Astrotech Corporation
(Exact name of registrant as specified in its charter)

Washington	001-34426	91-1273737
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

401 Congress Ave. Suite 1650 Austin, Texas	78701
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (512) 485-9530

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On March 3, 2010, 1^st Detect Corporation, a majority owned subsidiary of Astrotech Corporation, announced that it is the recipient of a $1.8 million investment from the Texas Emerging Technology Fund (TETF). The investment will go toward commercialization of 1^st Detect’s portable mass spectrometer, used to detect residues and vapors from a wide range of chemicals, including explosives, chemical warfare agents, toxic chemicals, and volatile organic compounds. A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Press release, dated March 3, 2010, issued by 1^st Detect Corporation.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ASTROTECH CORPORATION

By:	/s/ Thomas B. Pickens, III
	Name: Thomas B. Pickens, III Title: Chairman of the Board and Chief Executive Officer

Date: March 5, 2010

EXHIBIT INDEX

		Paper (P) or
Exhibit No.	Description	Electronic (E)
99.1	Press release, dated March 3, 2010, issued by 1st Detect Corporation.	E

EX-99.1

Exhibit 99.1

1^st Detect Corporation
401 Congress, Suite 1650
Austin, Texas 78701
512.485.9530
fax: 512.485.9531
www.1stDetect.com

FOR IMMEDIATE RELEASE

1^st Detect Receives $1.8 Million Investment for Commercialization of Chemical Detector

Austin, Texas, March 3, 2010 — 1^st Detect Corporation announced today it is the recipient of a $1.8 million investment from the Texas Emerging Technology Fund (TETF). The investment will go toward commercialization of 1^st Detect’s portable mass spectrometer, used to detect residues and vapors from a wide range of chemicals, including explosives, chemical warfare agents, toxic chemicals, and volatile organic compounds.

“Now more than ever, companies are looking to Texas as the best state in the nation to foster and grow innovative technologies thanks to our skilled and educated workforce and investments from the TETF,” Gov. Perry said. “This investment in 1st Detect will help make the detection of harmful substances more accurate and cost efficient, and will be an important tool for a variety of industries, from security to medicine.”

1st Detect Corporation was initially formed by Astrotech Corporation to commercialize miniature-mass spectrometer technology first developed for the International Space Station. 1st Detect created the Miniature Chemical Detector (MCD), a product that revolutionizes the chemical detection market by combining the performance of a mass spectrometer in a small, easily portable package. The broadband nature of the instrument, as well as the extreme performance provided by the ion trap architecture, makes the 1st Detect MCD an ideal detection tool for a variety of applications, including security, healthcare and industrial markets.

“With this investment from the TETF, we will be able to continue developing a technology that has the potential to make a great impact in the safety of our troops and our nation,” said John Porter, Chief Executive Officer for the Company. “This technology has the potential to greatly enhance the ability of law enforcement and the military to detect chemical and explosive threats by increasing the accuracy of chemical detection by orders of magnitude.”

The commercialization award will be used to finalize product design of the chemical detector and market it to the security, healthcare, and industrial sectors. 1^st Detect plans on converting their early prototype into a working field model that can be deployed in a wide variety of applications. 1^st Detect is currently partnered with The University of North Texas, which will supply expertise in product miniaturization, as well as developmental testing support.

About 1^st Detect Corporation
1^st Detect Corporation was initially formed by Astrotech Corporation (Nasdaq: ASTC) to commercialize miniature-mass spectrometer technology first developed for the International Space Station (ISS). 1^st Detect offers the Miniature Chemical Detector, a breakthrough device in mass spectrometry that fills a niche by being highly accurate, lightweight, portable, durable and inexpensive. The 1^st Detect ion trap based design is roughly the size of a shoe box, weighs approximately 15 pounds, and can be operated with battery power. Additionally, the Miniature Chemical Detector is capable of detecting residues and vapors from explosives, chemical warfare agents, toxic chemicals, food and beverage contamination, illicit drugs and pollution. It is also very sensitive, accurate, and fast which provides orders of magnitude better informing power than competing products. For more information about 1^st Detect, please see our website at www.1stDetect.com

The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company’s Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.

FOR MORE INFORMATION:
Scott Haywood
Corporate Marketing and Communications
1^st Detect Corporation
512.485.9520
shaywood@1stdetect.com

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