Domestic Nuclear Detection Office Awards Dynasil's RMD Unit $3.4 Million to Develop Next Generation Radiation Detection Equipment
Research Contracts Advance DNDO's Goal of Identifying Cost Effective Detection Technology to Combat Proliferation of Nuclear Materials
WATERTOWN, Mass.--(BUSINESS WIRE)-- Dynasil Corporation of America (NAS: DYSL) today announced that its RMD Inc. subsidiary has been awarded multiple research contracts supporting the U.S. Department of Homeland Security's Domestic Nuclear Detection Office (DNDO). The contracts, totaling $3.4 million under the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, will advance the government's research and development initiatives focused on gamma and neutron radiation detectors capable of identifying illicit nuclear materials.
"The DNDO continues to tap our unique and highly specialized materials research expertise to develop technology for critical homeland security applications," said Peter Sulick, Dynasil's Chairman of the Board, Interim Chief Executive Officer and President. "These awards target the development of next generation devices that combat nuclear smuggling by improving detection of nuclear bombs and nuclear materials at ports, airports, railways and border crossings.
"We believe that the characteristics of our dual mode scintillation crystal technologies provide an effective and efficient solution to identify neutron and gamma rays, which are signatures of highly enriched uranium and weapons-grade plutonium," Sulick said. "With helium-3, the gold standard for neutron detection, now in critically short supply, our technology leadership positions us to assist the DNDO in its mission to enhance the nation's nuclear and radiological materials detection capabilities. At the same time, research awards like these help drive Dynasil's commercialization efforts and advance our goal of developing proprietary technology that addresses significant market opportunities."
Dynasil Corporation of America (NAS: DYSL) develops and manufactures detection and analysis technology, precision instruments and optical components for the homeland security, medical and industrial markets. Combining world-class technology with expertise in research and materials science, Dynasil is commercializing products including dual-mode radiation detection solutions for Homeland Security and commercial applications, probes for medical imaging and sensors for non-destructive testing. Dynasil has an impressive and growing portfolio of issued and pending U.S. patents. The Company is based in Watertown, Massachusetts, with additional operations in Mass., Minn., NY, NJ and the United Kingdom. More information about the Company is available at www.dynasil.com.
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements regarding future events and our future results are based on current expectations, estimates, forecasts, and projections and the beliefs and assumptions of our management. These forward-looking statements may be identified by the use of words such as "may," "could," "expect," "estimate," "anticipate," "continue" or similar terms, though not all forward-looking statements contain such words. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements due to a number of important factors. These factors that could cause actual results to differ from those anticipated or predicted include, without limitation, our ability to develop and commercialize our products, including our dual mode detectors and the development of new technologies including at Dynasil Biomedical, the size and growth of the potential markets for our products and our ability to serve those markets, the rate and degree of market acceptance of any of our products, general economic conditions, costs and availability of raw materials and management information systems, our ability to obtain and maintain intellectual property protection for our products, competition, the loss of key management personnel, litigation, the effect of governmental regulatory developments, the availability of financing sources, our ability to identify and execute on acquisition opportunities and integrate such acquisitions into our business, and seasonality, as well as the uncertainties set forth in the Company's Annual Report on Form 10-K and from time to time in the Company's other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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