Dynasil Receives Additional Homeland Security
Funding for Nuclear Detection Materials
Tuesday, February 23, 2010 08:45 AM Eastern Time
WEST BERLIN, N.J.--(BUSINESS WIRE)--Dynasil Corporation
of America (OTCBB: DYSL.OB - News), a rapidly growing
manufacturer of specialized instruments, detectors
and products with applications in homeland security/defense,
cancer detection, medicine, and industry, announced
today that the Domestic Nuclear Detection Office ("DNDO")
of the Department of Homeland Security (Homeland Security)
awarded Radiation Monitoring Devices, Inc. ("RMD"),
Dynasil's research subsidiary, additional funding
totaling $2.5 million. These awards will be used to
fund additional development and to provide samples
of new, high performance nuclear radiation detector
materials to protect the nation from nuclear and radiological
threats. This is in addition to the $5.6 million of
research and development grants Homeland Security
awarded RMD last year for similar efforts.
The Department of Homeland Security turned to RMD
for improved detection equipment to combat the threat
of terrorists smuggling nuclear material into our
country. With 35 years of cutting-edge nuclear detector
development experience, Dynasil’s RMD Research division
has developed innovative scintillator crystals, which
are leading candidates to improve detection of radioactive
materials. RMD scintillators, which convert radiation
to visible light, also have the additional advantages
of being lightweight enough to be portable when needed,
cover a broader range of detectable materials, and
minimize false alarms.
Kanai Shah, RMD's Vice President of Research said,
"Homeland Security is very interested in our
materials as new gamma and neutron technologies for
threat reduction." Craig Dunham, Dynasil’s President
and CEO, added, "Homeland Security has been an
excellent partner for the R&D work on these materials,
and this additional funding enables us to take it
to the next stage, which could save lives by providing
better tools to detect and intercept potentially devastating
weapons. Dynasil employees are proud that our strategy
of significant and profitable growth through acquisitions
and the organic growth of our business units may also
aid Homeland Security in its mission to protect our
country."
About Dynasil: Dynasil is a rapidly growing
manufacturer of specialized instruments and products
for a broad range of applications markets in the homeland
security/defense, medical and general industrial sectors.
In addition, the Company is engaged in a significant
amount of contract research for the government and
private industry. Dynasil and its subsidiaries have
operations in New Jersey, New York and 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-KSB and
in the Company’s other Securities and Exchange Commission
filings, continuation of existing market conditions
and demand for our products.
Contacts:
Dynasil Corporation of America
Stuart Fine
908-469-1788
Email: stuart@carpedminc.com
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