Dynasil's RMD Subsidiary Awarded $4 Million in Technology Development Grants by U.S. Department of Energy
WATERTOWN, Mass., Nov. 19, 2013 /PRNewswire/ -- Dynasil Corporation of America (NASDAQ: DYSL) today announced that its contract research subsidiary, RMD Inc., has received four grants totaling $4.0 million under the U.S. Department of Energy's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs.
"RMD's world-class research in nuclear detection continues to be on the cutting edge of new technologies," said Peter Sulick, Dynasil's Chairman of the Board, Chief Executive Officer and President. "Advanced nuclear detection materials are being developed for the Department of Energy to further replace helium-3 in the critical areas of homeland security and nuclear fuel accountability."
"From accounting for the country's nuclear fuel supply to monitoring the 15 million shipping containers that enter the U.S.'s ports every year for illicit nuclear materials, the new Phase II research projects RMD is undertaking through these SBIR/STTR Programs exemplify some of the world's most demanding security and safety 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."
"These Phase II grants capitalize on our technical and scientific capability in the development of scintillation materials and solid state sensors for nuclear detection," Kanai Shah said. "Our work has significant application in the prevention of terrorist attacks and the safe guarding of nuclear materials, as well as in commercial endeavors such as energy exploration, nuclear power plant safety, medical imaging, basic science research and non-destructive testing."
Dynasil Corporation of America (NASDAQ: DYSL) develops and manufactures detection and analysis technology, precision instruments and optical components for the homeland security, medical and industrial markets including 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 MA, MN, 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 "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 2012 Annual Report on Form 10 K, as amended on February 14, 2013, including the risk factors contained in Item 1a, the Company's Quarterly Reports on Form 10-Q filed on February 13, 2013, May 15, 2013 and August 12, 2013 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.
Dynasil Corporation of America
Phone: (617) 668-6855
SOURCE Dynasil Corporation of America
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