BRADENTON, Fla.--(BUSINESS WIRE)--Feb. 15, 2006--GE Security's Homeland Protection business (NYSE: GE), through its wholly-owned subsidiary GE Invision, today announced it is making a minority strategic investment of up to $16 million in Verified Identity Pass, Inc. (Verified ID). Verified ID's Clear(TM) service is the nation's leading, and only operational, Registered Traveler program.
GE intends to utilize its extensive research and development capability, its broad experience in airline luggage and passenger screening, as well as its next-generation explosives detection technology to improve passenger checkpoint security, drive down the cost of providing improved security and allow Clear members an expedited security process.
Along with its investment, GE has also agreed to provide its Lean Six Sigma process improvement capabilities to Verified ID's Clear lanes, to help make screening more efficient and convenient.
"GE is committed to leading improvements in aviation security, while helping to drive down costs and make the passenger experience more pleasant; and these goals are perfectly aligned with the Registered Traveler program and Verified ID's Clear lanes," said A. Louis Parker, president and CEO, GE Security. "We see Registered Traveler as a major new opportunity for an industry that we intend to lead, and we think this investment - in the entrepreneurial company that has created the first and only working private sector program - will allow GE to help bring practical real-world security solutions to the aviation checkpoint."
Registered Traveler is part of a recently announced Department of Homeland Security (DHS) vision for developing new solutions that ensure the best use of new technologies and more efficient processes to improve security and facilitate travel and trade.
"GE is among America's most respected companies, and the fact that they have chosen to work with us in applying their legendary process flow expertise to the bottleneck that frustrates so many travelers is enormously important," said Verified Identity Pass founder and CEO, Steven Brill. "The TSA has now made it clear that service providers can offer improvements at Registered Traveler lanes in return for offering program members an expedited security process."
Brill continued, "That has always been part of our plan, and now we have the partners who can help us do that. With GE joining Lockheed Martin - our systems integrator and another equity investor - we have the resources and the best team imaginable to achieve the national rollout of a program with world class security and demonstrable benefits for our members."
The Registered Traveler program is intended to accelerate the screening process at participating airports for passengers who voluntarily choose to enroll. The TSA announced last November that by June 2006 private service providers will be allowed to roll out programs at airports around the country similar to the private sector program begun by Verified ID at the Orlando International Airport in July, 2005.
Verified ID created the first branded consumer product, Clear, in the voluntary identity credentialing industry. Clear allows the shifting of limited airport security resources away from lower-risk travelers. It is based on the risk-management premise that someone who is pre-screened is less likely to be a threat than someone who isn't.
The Clear service at Orlando International Airport, which now has more than 15,000 members, is the only Registered Traveler program operating in the United States.
By participating in the Registered Traveler program, Clear members spend less time in security lines. As further services roll out at airports across the country, the completely interoperable Clear system will allow members to use Registered Traveler lanes at any airport in the United States.
GE's vision for aviation security features a variety of innovative GE security products including the EntryScan, Itemiser FX and ShoeScanner, as well as the SafeView Scout millimeter wave portal. It is hoped that these next generation products will help make travel safer, security less costly and passenger checkpoints much more convenient and efficient.
About GE's Security Business
GE's Security business is a wholly owned subsidiary of the General Electric Company (NYSE: GE) focused on communication and information technologies for security, safety and lifestyle enhancements. GE Security has operations in more than 30 countries and is represented by some of the best-known brand names for intrusion and fire detection, access and building control, video surveillance, explosive and drug detection, key management and structure wiring.
GE Security was recently named Frost & Sullivan's 2006 Company of the Year for Homeland Security. For more information about GE Security and our products, please visit www.gesecurity.com.
About Verified Identity Pass and Clear
Verified Identity Pass, Inc. was founded in 2003 by journalist and entrepreneur Steven Brill. The company's voluntary credentialing program, Clear, is the first and only privately run Registered Traveler program operating at a U.S. airport. For more information, please visit www.verifiedidpass.com.
Clear has been operational since July 19, 2005 at Orlando International Airport. Open to all travelers at a fee of $79.95 per year, enrollees begin an application online at www.flyclear.com and then submit biometric data (fingerprint and iris images) at the ClearSpace enrollment stations in the airport. Once approved by TSA, members use the specially designated ClearLanes upon arrival at the airport's security checkpoints.
Contacts
GE Security
Connie Higgins, 941-309-8579
[email protected]
or
Steve Hill, 510-857-1132
[email protected]
www.gesecurity.com