NEWTON, Mass., Aug. 8, 2018 /PRNewswire/ -- Dynasil
Corporation of America (NASDAQ: DYSL) today announced its Radiation
Monitoring Devices subsidiary (RMD) has been selected to receive
two Phase II grants totaling $2
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 a world leader in the areas
of nuclear detection and nondestructive testing utilizing Eddy
Current Technology," said Peter
Sulick, Dynasil's Chairman of the Board, Chief Executive
Officer and President. "Government agencies continue to tap
our highly specialized research expertise to develop essential
technology for nuclear waste monitoring and nondestructive testing
applications."
RMD was selected to receive Phase II grants in the following
areas:
- Wireless Detectors to Monitor Nuclear Waste Cask Systems
- Nuclear cask storage systems provide an isolation barrier that
keeps spent fuel in a safe, inert environment for decades.
Due to this long period of time, it is essential to continually
monitor the structural integrity of the spent fuel assemblies
inside the casks including temperature, pressure, corrosion and the
radioactive decay of isotopes.
The Department of Energy and the Electric Power Research Institute
have initiated a program to develop the next generation of
long-term nuclear waste storage casks which include lids that
incorporate a variety of sensors to report on conditions inside the
casks.
To address this program's needs, RMD is developing a radiation hard
detector system that will detect beta particles emitted from
85Kr. This technology will have the capability to
operate at elevated temperatures and in a high gamma radiation
environment. Our system will be the foundation of a dry cask
monitoring system that will be self-powered and capable of
transmitting changes that occur in the cask via wireless
communications.
- NDT techniques for Inspection of Concrete Structures in
Nuclear Power Plants - The U.S. nuclear power plant
infrastructure is aging, and new NDT techniques are needed for
inspection of concrete structures in nuclear power plants because
steel reinforcements can corrode and crack, leading to weakening of
the structures. Existing NDT techniques do not provide a full
picture of the structure's condition because of the difficulty in
reliably assessing the condition of the steel
reinforcements.
RMD is developing a new Eddy Current
sensor array with the capabilities of detecting defects in steel
reinforced concrete faster and with higher sensitivity and
reliability than is currently possible. It will be used to
test for defects in numerous concrete structures in nuclear power
plants. Our system will reduce the cost and time required for
inspection by providing more reliable data and decreasing costly
downtime for in-service inspections. In addition to nuclear
power, the public will benefit from our new NDT technology with
safer roads, bridges, buildings and other concrete structures.
"We are proud of the cutting-edge research conducted by our very
talented R&D team," said RMD's President, Dr. Kanai Shah. "Our goal is to perform
world-class research on critical problems and then launch next
generation products into the marketplace."
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, Massachusetts, with additional
operations in Massachusetts,
Minnesota, New Jersey, New
York 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. 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, our ability to develop and
commercialize our products, 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 2017 Annual
Report on Form 10 K, as filed on December
20, 2017 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