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Dynasil Awarded Seven Phase-II SBIR Grants by the U.S. Department of Energy Totaling $6.2 Million

^{Published on 2010-08-24 06:25:29 - Market Wire}
 

WATERTOWN, Mass.--([ 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 (aRMDa), to develop its state of the art nuclear sensors and instruments.

"We are pleased with these awards and with our continued progress in advancing our cutting edge sensor and detector technologies"

Three of the awards are from the DOEa™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 DOEa™s Office of Basic Energy Sciences will fund RMDa™s research on sensor technologies to support the research efforts of scientists working at the DOEa™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.

aWe are pleased with these awards and with our continued progress in advancing our cutting edge sensor and detector technologies,a said Craig T. Dunham, Dynasil CEO. aWe'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.a

aAll of these projects are being conducted in collaboration with world class researchers at national laboratories and universities,a added Michael Squillante, RMD VP of Research. aIn 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.a

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," aplana, atargeta, aintenda 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.