August 22, 2016
Newton, MA, August 23, 2016 –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