ScanTech AI Systems Begins Trading on OTCQB Venture Market and Provides Corporate Update

Atlanta, GA, March 17, 2026 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (OTCQB:STAI) ("ScanTech AI" or the "Company"), a developer of advanced AI-powered security screening and imaging technologies, today announced that its common stock has commenced quotation on the OTCQB^® Venture Market, operated by OTC Markets Group Inc. The Company's shares previously traded on the OTC Pink market following the suspension of trading on the Nasdaq Global Market on February 10, 2026.

The OTCQB Venture Market is a recognized and regulated marketplace for developing companies that meet higher financial standards, governance requirements, and ongoing disclosure obligations than the OTC Pink market. The transition reflects the Company's continued commitment to transparent financial reporting, strong corporate governance, and accessible capital markets for its shareholders.

"This is a meaningful step in ScanTech AI's recovery and restructuring," said Dolan Falconer, Chief Executive Officer. "The OTCQB quotation provides a more credible and accessible marketplace while we advance the operational and financial initiatives that we believe will create long-term shareholder value."

Debt Restructuring and Balance Sheet Repair

The Company is engaged in discussions with its creditors regarding potential transactions intended to improve its balance sheet, which may include debt restructurings, exchanges, modifications or debt-to-equity conversions. To date, the Company has not entered into any definitive agreement with respect to any such transaction, and there can be no assurance that any agreement, amendment, exchange, conversion or other balance sheet improvement transaction will be reached or completed, or, if completed, on terms favorable to the Company. Any such transaction would be subject to further negotiation, execution of definitive documentation, applicable approvals and other customary conditions.



Operational Progress

ScanTech AI continues to advance its commercial and technology programmes:

• City of Atlanta / FIFA World Cup Pilot. As previously announced, the Company launched a collaborative pilot programme with the City of Atlanta to evaluate the SENTINEL^® platform in advance of 2026 FIFA Football World Cup events, including performance monitoring, operator feedback, and AI algorithm refinement.
• unival group GmbH Strategic Partnership. The Company's strategic partnership with unival group, a leading European security systems integrator, continues to progress as a channel for SENTINEL deployments across Europe, the Middle East, and Africa.
• ECAC Certification. The Company continues to advance its application for certification under the European Civil Aviation Conference Common Evaluation Process, which management believes would significantly expand the Company's addressable market in aviation security outside of the United States.

Positioned for Growth in a Heightened Global Security Environment

We believe global demand for advanced threat detection technologies continues to strengthen, driven by rising geopolitical tensions, evolving threat vectors, and increasing government investment in critical infrastructure protection. According to industry estimates, the global security screening market is projected to grow from approximately $24 billion to over $75 billion during the current decade, driven by mandated technology upgrades at airports, borders, and high-security facilities worldwide.

"The security environment is creating significant opportunities for companies with proven, deployable technology," said Rocky Starns, Chief Operating Officer. "SENTINEL is a fixed-gantry CT platform with AI-driven threat detection that is already operational in demanding, real-world environments. We believe ScanTech AI is positioned to capture a meaningful share of these growing markets as we execute on our commercial pipeline and expand our partnerships."

Board and Leadership

ScanTech AI's Board of Directors includes Chairman Bradley Buswell, a former Deputy Under Secretary in the U.S. Department of Homeland Security and former CEO of Morpho Detection; Michael McGarrity, former FBI Assistant Director of Counterterrorism; and Michael Cavanaugh, an independent director with over 20 years of leadership across automation, security imaging, and AI-enabled platforms. The Company believes this depth of security, government, and technology expertise provides a strong foundation for its growth strategy.

About ScanTech AI Systems Inc.

ScanTech AI Systems Inc. (OTCQB:STAI) develops advanced security screening solutions integrating artificial intelligence, machine learning, and computed tomography imaging to detect explosives, contraband, and other threat materials. The Company's SENTINEL fixed-gantry CT platform is designed for deployment across aviation security, cargo screening, nuclear and energy facilities, ports and borders, and government security operations. ScanTech AI is headquartered in Buford, Georgia.

For more information, visit www.scantechais.com and investor.scantechais.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as "believe," "expect," "intend," "may," "plan," "potential," "project," "would," "will," "continue," "advance," and similar expressions. These forward-looking statements include, without limitation, statements regarding: the Company's ability to improve its balance sheet or consummate any debt restructuring, exchange, modification or debt-to-equity conversion transaction; the anticipated benefits of any such transaction; the Company's ability to maintain quotation of its common stock on the OTCQB Venture Market; the progress, timing, scope and potential benefits of the City of Atlanta pilot programme, the unival group GmbH strategic partnership and the Company's ECAC certification efforts; the Company's commercial pipeline, deployment opportunities and geographic expansion; the size, growth and accessibility of addressable markets; and the Company's ability to create long-term shareholder value or qualify for listing on any additional exchange.

Forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation: the possibility that the Company will not enter into definitive agreements with creditors or complete any contemplated balance sheet transaction; the risk that any such transaction, if consummated, may not improve the Company's financial condition to the extent anticipated; the Company's ability to satisfy OTCQB eligibility standards and continue to meet its reporting and other obligations; the Company's need for additional capital and history of losses; risks relating to execution, customer adoption, pilot results, partner performance and commercialization; delays or failures in obtaining certifications, approvals or market acceptance; the possibility that market opportunity estimates and industry projections may prove inaccurate; competitive pressures, supply chain constraints, geopolitical conditions and changes in government spending priorities; and the other risks described from time to time in the Company's filings with the Securities and Exchange Commission.

The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact

ScanTech AI Systems Inc.

D. Williams Sr., Senior VP Sales, Business Development & Investor Relations

[email protected] 

International Elite Capital Inc. 

Annabelle Zhang 

+1(646) 866-7928 

[email protected]