Dynasil Corporation Featured on DOE Success Story
Dynasil Corporation of America (NASDAQ: DYSL) today announced its Radiation Monitoring Devices subsidiary (RMD) is being featured on the U.S. Department of Energy (DOE) Office of Science website as a Small Business Innovation Research (SBIR)/ Small Business Technology Transfer (STTR) Phase III success story.
In an article entitled “Portable solid state detector allows first responders to a radiation incident to identify a wide range of radioactive sources” RMD’s successes with CLYC are highlighted, with particular focus on the multiple government agencies that supported CLYC research to improve the capability to detect and discriminate both gamma-rays and neutrons in one radiation detector. In addition to DOE, the Domestic Nuclear Detection Office (DNDO) and the Defense Threat Reduction Agency (DTRA) funded RMD’s work.
Thermo Fisher Scientific is purchasing CLYC dual mode detector crystals from RMD to use in their RadEye SPRD-GN (spectroscopic personal radiation detector – gamma neutron). CLYC is in high demand by government agencies and defense contractors, and additional future customers will likely include hospitals and the recycling industry. Over 100,000 of the many RadEye variants have been sold worldwide. Customers include the Washington DC Metro, the New York Fire Department, the Houston Bomb Squad, and Jacksonville, FL Fire and Rescue. The new CLYC-based version, the RadEye SPRD-GN, is a strong addition to the RadEye line.
Additionally, the article describes RMD’s promising development work on a new scintillation material, CLLBC, for the next generation of dual-mode gamma-ray and neutron detectors.
“We are excited to have RMD featured as a success story,” said Peter Sulick, Dynasil’s CEO and President. “We are proud of the cutting-edge research conducted by our very talented R&D team.” RMD’s President, Dr. Kanai Shah, stated that, “CLYC and other RMD successes are based on the implementation of a commercialization model in which multi-agency support is leveraged to bring a technology through the research phase and launch it into the marketplace.”
About Dynasil
Dynasil Corporation of America (NASDAQ: DYSL) develops and manufactures optics and photonics products, optical detection and analysis technology and components for the homeland security, medical and industrial markets. Combining world-class expertise in research and materials science with extensive experience in manufacturing and product development, Dynasil is commercializing products including dual-mode radiation detection solutions for Homeland Security and commercial applications 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 Newton, Massachusetts, with additional operations in Massachusetts, Minnesota, New Jersey, New York and the United Kingdom. More information about the Company is available at www.dynasil.com.
Safe Harbor
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, including those relating to future Infrared High Efficiency and DLC Coatings sales, 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 2017 Annual Report on Form 10 K, as filed on December 20, 2017 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.
