Billerica, MA – According to filings with the U.S. Securities and Exchange Commission, Passport Systems is raising $22,000,000.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Stephen Korbly played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Passport Systems

Passport Systems was founded to develop and commercialize nuclear resonance fluorescence technology (NRF), as well as other technologies, to address the threats facing the world in the aftermath of the terrorist attacks on September 11, 2001. Started by a team of MIT technologists and entrepreneurs, the company has developed two families of products based on these state-of-the-art technologies: The SmartScan 3D inspection system and the SmartShield networked radiation detection system.  To date more than $75 million of government program funding and private equity has been invested in the development of these two advanced technology product lines.

To learn more about Passport Systems, visit http://www.passportsystems.com/

Contact:
Stephen Korbly, Chief Executive Officer
978-263-9971
https://www.linkedin.com/in/steve-korbly-60010bb/

SOURCE: http://www.intelligence360.io
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