NEWTON, Mass., Aug. 22, 2016 /PRNewswire/ -- Dynasil Corporation
of America (NASDAQ: DYSL) today announced that its contract
research subsidiary, RMD Inc., has received grants totaling
$1.86 million under the U.S.
Department of Energy's Small Business Innovation Research (SBIR)
and Small Business Technology Transfer (STTR) Programs.
"RMD continues to be recognized as providing world class
research in the areas of scintillation and nondestructive testing
technologies," said Peter Sulick,
Dynasil's CEO and President. "These awards underscore RMD's
pivotal role in applying material science and nondestructive
technologies to new detection and analysis methods for high energy
physics research, and the detection of defects in concrete
structures in nuclear power plants."
Two Phase II Grants
SBIR/STTR Phase II DOE programs
represent funding for the principal R&D effort, with awards up
to $1 million over two years. RMD
received two Phase II grants of approximately $1 million each for the following:
- Eddy Current Technology – Further development of RMD's
magnetic solid-state sensor arrays for inspecting nuclear power
plant infrastructure. RMD's technology will provide more enhanced
capabilities than are currently available for detecting defects in
components encased in concrete.
- Ultra-Pure Scintillators – Development of ultra-pure
Sodium Iodide scintillators to enable dark matter studies to
determine how the galaxies were formed and whether or not the
universe will expand forever. So important is dark matter research
to our understanding of the size, shape and the ultimate fate of
the universe, that the search for it will very likely dominate
astronomy for the next few decades.
"From the development of imaging devices designed to 'see'
through the walls of nuclear power plant concrete structures to
gamma-ray detectors that enable the next generation of dark matter
studies, the Phase II research projects we are embarking on through
these SBIR/STTR Programs embody some of the world's most pressing
high energy physics and energy production research needs," said
Kanai Shah, Ph. D. President of
Dynasil's RMD subsidiary. "Dynasil is proud to partner with
the Department of Energy on these initiatives."
About Dynasil
Dynasil Corporation of America (NASDAQ:
DYSL) develops and manufactures optics and photonics products,
optical detection and analysis technology and components for the
homeland security, medical and industrial markets. Combining
world-class expertise in research and materials science with
extensive experience in manufacturing and product development,
Dynasil is commercializing products including dual-mode radiation
detection solutions for Homeland Security and commercial
applications 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 Newton, MA, with additional operations in MA,
MN, NY, NJ and the United Kingdom.
More information about the Company is available at
www.dynasil.com.
Safe Harbor
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,
including, without limitation, our expectations regarding results
of operations, the commercialization of our technology and the
strength of our intellectual property portfolio. These
forward-looking statements may be identified by the use of words
such as "plans", "intends," "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, 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 and
technical personnel, our ability to obtain timely payment of our
invoices to governmental customers, 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 2015 Annual Report on Form 10 K, as filed on
December 17, 2015, including the risk
factors contained in Item 1a, 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.
Contact:
Patty Kehe
Corporate Secretary
Dynasil Corporation of America
Phone: (617) 668-6855
pkehe@dynasil.com
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SOURCE Dynasil Corporation of America