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SOURCE Dynasil Corporation of America
Research Contracts Advance DNDO's Goal of Identifying Cost Effective Detection Technology to Combat Proliferation of Nuclear Materials
WATERTOWN, Mass., Jan. 23, 2014 /PRNewswire/ -- Dynasil Corporation of America (NASDAQ: DYSL) today announced that its RMD Research subsidiary has been awarded contracts totaling $2.1 million from the Department of Homeland Security's Domestic Nuclear Detection Office (DNDO). These contracts will advance the government's research and development initiatives focused on the identification of illicit nuclear materials.
"The DNDO continues to tap our highly specialized materials research expertise to develop technology for critical homeland security applications," said Peter Sulick, Dynasil's Chairman of the Board, Interim Chief Executive Officer and President. "These awards focus on the development of next generation materials to combat nuclear smuggling by improving detection of illicit materials at ports, airports, railways and border crossings.
"We believe that our research provides integrated solutions to identify neutron and gamma rays, which are signatures of highly enriched uranium and weapons-grade plutonium," Sulick said. "The threat of terrorists smuggling nuclear materials into the country to create weapons of mass destruction is one of the most serious threats faced by the United States. To prevent this from occurring requires equipping border crossings and shipping ports in the United States and abroad with advanced systems to detect the telltale signature of nuclear materials. RMD's objective is to assist the DNDO in its mission to enhance the nation's nuclear and radiological materials detection capabilities. At the same time, research awards like these help drive Dynasil's commercialization efforts and advance our goal of developing proprietary technology that addresses significant market opportunities."
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 work is supported by The US Department of Homeland Security Domestic Nuclear Detection Office, under competitively awarded contract(s) HSHQDC-13-C-00068, HSHQDC-13-C-00070, HSHQDC-13-C-B0039, HSHQDC-13-C-B0038, HSHQDC-13-C-B0041, HSHQDC-13-C-B0040, and 2013-DN-077-ER00002. This support does not constitute an express or implied endorsement on the part of the Government.
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 2013 Annual Report on Form 10 K, as filed on December 20, 2013, 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.
Dynasil Corporation of America
Phone: (617) 668-6855
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