Dynasil Awarded Seven Phase-II SBIR Grants by the U.S. Department of Energy Totaling $6.2 Million
August 24 2010 - 8:15AM
Business Wire
Dynasil Corporation of America (OTCBB:DYSL) today announced that
the U.S. Department of Energy (DOE) has approved seven of its
Phase-II SBIR projects for awards, ranging from $750,000 to
$1,000,000 each. The awards, totaling $6.2 million, are being made
to its wholly owned subsidiary, Radiation Monitoring Devices, Inc
(“RMD”), to develop its state of the art nuclear sensors and
instruments.
Three of the awards are from the DOE’s Office of Biological and
Environmental Research and focus on developing high resolution
imaging detectors for the next generation of nuclear medicine
research and medical diagnostic equipment. The radiation detector
technologies being developed could also have a major impact in
nuclear weapons detection for homeland defense, as well as new
instrumentation for oil exploration, scientific studies, and
industrial applications.
Additionally, four awards provided by the DOE’s Office of Basic
Energy Sciences will fund RMD’s research on sensor technologies to
support the research efforts of scientists working at the DOE’s
National Laboratories in materials science, nuclear physics and
high energy physics. The projects include the development of the
next generation of sensors for nanoscale microscopy, as well as new
detectors based on nano-particles for ultra-fast high performance
X-ray detectors. These materials also have potential commercial
applications in many fields including scientific research,
renewable energy, cancer detection, environmental clean-up and
baggage scanning.
“We are pleased with these awards and with our continued
progress in advancing our cutting edge sensor and detector
technologies,” said Craig T. Dunham, Dynasil CEO. “We're especially
pleased that the work aligns well and leverages our state of the
art discoveries with our development capabilities, to deliver
compelling new commercial products for nuclear and X-ray detection
for Homeland Security and medical imaging applications.”
“All of these projects are being conducted in collaboration with
world class researchers at national laboratories and universities,”
added Michael Squillante, RMD VP of Research. “In these
initiatives, both the DOE and Dynasil are working in tandem towards
common technological goals, as well as to deliver compelling new
products that Dynasil can commercialize.”
About Dynasil: Dynasil Corporation of America (OTCBB:
DYSL), is a provider of technology, products, services and
solutions aimed at making the world safer and healthier. The
company supplies a broad range of customers by serving their
specific needs in the medical, industrial, and homeland
security/defense markets. The Company has operations in New Jersey,
New York, Massachusetts and the UK.
About Radiation Monitoring Devices, Inc.: Radiation
Monitoring Devices, Inc. (RMD), a wholly owned subsidiary of
Dynasil Corporation of America was founded in 1974 and is
recognized as a national leader in the specialized fields of
radiation detector materials, nuclear instrumentation, and custom
detector applications. Since the late 1970's, RMD has been an
active participant in the federal SBIR program. RMD is based in
Watertown, Massachusetts.
This news release may contain forward-looking statements usually
containing the words "believe," "expect," “plan”, “target”,
“intend” or similar expressions. These statements are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act. Future results of operations, projections, and
expectations, which may relate to this release, involve certain
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that would
cause or contribute to such differences include, but are not
limited to, the factors detailed in the Company's Annual Report or
Form 10-K, Quarterly Reports on Form 10-Q, as well as in the
Company's other Securities and Exchange Commission filings,
continuation of existing market conditions and demand for our
products.
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