Dynasil currently produces low volumes of detectors at its Watertown, MA facility and recently installed the first high volume production equipment built specifically for these radiation detectors at its Hilger Crystals subsidiary. Hilger was acquired during 2010 with the specific objective of speeding time to market of new nuclear detection technology. Hilger also produces and sells detectors for baggage/cargo screening and medical imaging.About Dynasil Corporation of America (NASDAQ:DYSL) Dynasil 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. Dynasil has operations in Massachusetts, New Jersey, New York and the UK. This news release may contain forward-looking statements usually containing the words "believe," "expect," “plan”, “target”, “intend” “potential” 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, including those related to future markets, equipment performance, shipments and patent grants, 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 anticipated market demand and acceptance of the Company’s dual mode detectors, the Company’s ability to develop and deploy additional furnaces that can produce sufficient quantities of crystals, the Company’s success in developing the new neutron and gamma ray sensitive crystals, the Company’s ability to secure patent protection, the factors detailed in the Company's Annual Report on 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.
The research division, Radiation Monitoring Devices, Inc. (RMD), of Dynasil Corporation (NASDAQ GM:DYSL) has been named a 2011 Department of Homeland Security (DHS)’s small business winner for radiation and nuclear detection. This award is one of DHS’s small business awards for innovative achievement and commitment to national security. Dr. Kanai Shah, Vice President of RMD, received the award on Wednesday, April 20, 2011 at a ceremony held by DHS at the GSA auditorium in Washington, DC. In particular, RMD was recognized for accomplishing low rate production of two newly developed radiation detection materials, strontium iodide (SrI 2) and Cs 2LiYCl 6 (CLYC) scintillator crystals, capable of both high-confidence nuclear and radioactive material detection in all environments. These low rate production facilities provide scintillation crystals as government furnished materials in support of DNDO’s exploratory research programs. In particular, they are the key enabling technologies for DNDO's Advanced Radiation Monitoring Devices (ARMD) program. RMD’s consistency in meeting the DNDO milestones, providing high quality scintillation samples in a timely manner to the ARMD program vendors and establishing a good working relationship with the government have also been important considerations in receiving this award. DHS is also recognizing RMD for the continuing development of TlBr semiconductor nuclear detectors. This DHS Small Business Achievement Award is presented to small businesses for outstanding commitment to the homeland security mission. Dynasil previously announced plans to scale up production of its dual mode (combined gamma-neutron) nuclear radiation detectors which are based on the CLYC scintillator material technology being recognized by the DHS award. Applications for Dynasil’s novel dual mode detectors include the detection of nuclear terrorist threats and monitoring of radiation from nuclear power. One of the most serious threats faced by the United States is the possibility of terrorists smuggling a nuclear weapon into the country and the DHS is seeking improved detection equipment. Existing detectors tend to be expensive, too small, or are plagued by false alarms from naturally occurring radioactive materials, which emit radiation. In addition, current border protection technology for nuclear materials utilizes a crucial ingredient called helium 3 which was a by-product of the nuclear weapons program and is increasingly in short supply. Dynasil next generation radiation-detection materials provide potential solutions for several of these difficult challenges. The initial target market for Dynasil’s new detectors is portable radiation detection devices that can be used to measure radiation levels and to provide alarms for high levels of radiation as well as to detect nuclear materials that terrorists might try to smuggle into our country.