AUSTIN, Texas, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ:ASTC) ("Astrotech" or the "Company"), today announced the formation of its Strategic Advisory Board and the appointment of four inaugural members: Dennis Wingo; Maj. Gen. (Ret.) John M. Olson, Ph.D.; Clive R. Neal, Ph.D.; and Gregory R. "Greg" Baiden, Ph.D. The advisors will also support the Company's planned response to NASA's Next Space Technologies for Exploration Partnerships-3 ("NextSTEP-3") Appendix A: Lunar Enabling Infrastructure Accelerator ("LEIA") ("Appendix A Proposal").

The Strategic Advisory Board is expected to provide technical and strategic guidance as the Company evaluates technology priorities, partnerships, mission architectures and commercialization pathways involving lunar resource mining, autonomous surface operations, materials processing, communications, power, advanced manufacturing, artificial intelligence and quantum computing, and prepares its planned Appendix A Proposal.

Astrotech announced its lunar resources and infrastructure initiative in May 2026 and submitted a proposal to NASA's Commercial Lunar Payload Services 2 ("CLPS2") program in June 2026. NASA issued the draft LEIA Broad Agency Announcement in June 2026 to advance/progress technologies in surface power, radioisotope power, in-situ resource utilization, in-space advanced manufacturing and innovative nanomaterials. Subject to the final solicitation and internal approvals, Astrotech intends to submit a proposal in one or more areas aligned with its lunar initiative. Neither the CLPS2 submission nor the planned Appendix A Proposal constitutes a NASA selection, award, contract, funding commitment, authorization or endorsement. Development of Astrotech’s planned lunar resources and infrastructure initiative is subject to, among other things, receipt of appropriate financing.

"We believe NextSTEP-3 Appendix A aligns with several capabilities we are evaluating for a future lunar industrial platform, including power, resource utilization, autonomous systems and advanced manufacturing," said Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation. "Dennis, John, Clive and Greg bring the technical, scientific, government and commercial experience needed to help us develop a credible proposal, identify strong partners and focus Astrotech's resources where we believe they can create the greatest value."

STRATEGIC ADVISORY BOARD MEMBERS

Dennis Wingo - Chief Technology Officer, President and Co-Founder of SpaceBilt. Wingo is an engineering physicist, space-technology entrepreneur, inventor and author with decades of experience in space-qualified computing, spacecraft systems, solar-electric propulsion, in-space servicing and lunar mission architecture. He flew the first Macintosh computer on the Space Shuttle, used to measure the microgravity environment in Astrotech’s SpaceHab module. Wingo has worked on commercial computing, avionics and data systems for space applications, including leading the team that emplaced the world’s first data server on the Moon in 2025 for a commercial customer. Wingo is the author of Moonrush: Improving Life on Earth with the Moon's Resources, which presents a vision for using lunar resources and commercial space infrastructure to improve life on Earth and expand economic activity beyond the planet. His work also includes patented in-space servicing technologies and concepts for scalable lunar and in-space infrastructure.

Maj. Gen. (Ret.) John M. Olson, Ph.D. - President, Chief Executive Officer and Chairman of AXIONS Corporation. A retired U.S. Air Force major general, Dr. Olson has held leadership roles across NASA, the White House Office of Science and Technology Policy, the U.S. Space Force and the Department of the Air Force. His experience includes space acquisition and operations, data and artificial intelligence, cyber, advanced technology, national security and the management of complex, multi-billion-dollar programs.

Clive R. Neal, Ph.D. - Professor of Civil and Environmental Engineering and Earth Sciences at the University of Notre Dame. A leading lunar scientist, Dr. Neal specializes in lunar exploration, including the study of Apollo samples, lunar resources and the scientific and technical requirements for establishing a permanent human presence on the Moon. He has twice chaired NASA's Lunar Exploration Analysis Group and has received two NASA honors: the 2015 Michael J. Wargo Award for the Integration of Exploration and Planetary Science and the 2026 Eugene Shoemaker Distinguished Scientist Medal for significant contributions to lunar and planetary science. Dr. Neal has also twice represented the United States before the United Nations Committee on the Peaceful Uses of Outer Space on legal and policy matters related to lunar resources.

Gregory R. "Greg" Baiden, Ph.D. - Chief Executive Officer of Penguin Automated Systems Inc. (Penguin ASI). Dr. Baiden is a pioneer in robotics, mine automation and teleoperated systems for harsh and remote environments. A former Canada Research Chair in Robotics and Mine Automation and former mining research executive at Inco Limited, his work spans autonomous mining, embedded intelligence, positioning, navigation, optical communications and robotic systems for underground, subsea, surface and space applications.

The Advisory Board will engage with Astrotech’s Board of Directors and management on strategic planning, technical reviews, partnership evaluation, risk identification, program development and preparation of the planned Appendix A Proposal. Members will serve in an advisory capacity and will not be members of Astrotech's Board of Directors or the employees of the Company. The Company expects to add advisors as the initiative develops.

ABOUT ASTROTECH CORPORATION

Astrotech Corporation (NASDAQ:ASTC) is a science and technology company headquartered in Austin, Texas. The Company creates, operates and scales innovative businesses through its subsidiaries and technology platforms, including space-related technology, advanced instrumentation, mass spectrometry, gas chromatography, process-control and environmental analysis technologies.

Astrotech is evaluating opportunities to identify, develop and commercialize advanced technologies with potential applications in space, defense, industrial, environmental, quantum computing, AI, advanced semiconductor materials, lunar infrastructure and related markets. For more information, visit www.astrotechcorp.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that are within the meaning 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 statements may be identified by terms such as "aims," "anticipates," "believes," "contemplates," "continue," "could," "estimates," "expect," "forecast," "guidance," "intends," "may," "plans," "possible," "potential," "predicts," "preliminary," "projects," "seeks," "should," "targets," "will" or "would," or the negatives of these terms, variations of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements regarding the expected role of the Strategic Advisory Board; the Company's lunar infrastructure initiative; the results of the CLPS2 proposal; planned participation in and submission under the Appendix A Proposal; the solicitation's timing and final terms; potential NASA selection, funding, awards or contracts; technology development, partnerships, autonomous systems, lunar resource mining and processing, advanced manufacturing, power development, artificial intelligence, quantum computing, advanced semiconductor materials and commercial lunar activity; future engineering and testing, technology qualification, commercialization and potential lunar resource deployment and long-duration energy storage; and the Company's ability to finance, validate, launch, operate or commercialize related systems; and the potential effects of the addition of advisors.

Forward-looking statements are based on current expectations, estimates, forecasts, and projections, as well as management's current beliefs and assumptions, and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, the early-stage nature of the initiative; the possibility that NASA modifies, delays or cancels Appendix A, that Astrotech does not submit a proposal, or that NASA does not select or fund Astrotech under Appendix A or CLPS2; technical, engineering, regulatory, licensing, operational, launch, landing, mission, cost, supply-chain, resource-characterization, market, financing and commercial risks; lunar transportation availability and cost; the Company's ability to secure partners, customers, government support or financing and regulatory approval; uncertainty concerning the existence, concentration, accessibility, extractability, processing, ownership, regulation and commercial value of lunar resources; risks associated with autonomous lunar operations and advanced technology development; the adverse impact of inflationary pressures, including significant increases in fuel costs, global economic conditions and events related to these conditions, including the ongoing wars in Ukraine and the Middle East, the Company’s use of proceeds from the common stock offerings, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain regulatory approvals required to market our products under development in the United States or abroad, whether the market will accept our products and services and whether we are successful in identifying, completing and integrating acquisitions, as well as other risk factors and business risks described in the Company's SEC filings, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Any forward-looking statements in this document should be evaluated in light of these important risk factors. The contemplated lunar energy-storage application remains in the evaluation and development stage. While we do not intend to directly harvest, manufacture, distribute or sell cannabis or cannabis products, we may be detrimentally affected by a change in enforcement by federal or state governments and we may be subject to additional risks in connection with the evolving regulatory area and associated uncertainties. Any such effects may give rise to risks and uncertainties that are currently unknown or amplify others mentioned herein. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. In addition, any forward- looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to correct or update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

CONTACTS

Company Contact

Scott Bartley

Interim Chief Financial Officer

Astrotech Corporation

(512) 485-9530