NEWTON, Mass., Aug. 8, 2018 /PRNewswire/ -- Dynasil Corporation of America (NASDAQ: DYSL) today announced its Radiation Monitoring Devices subsidiary (RMD) has been selected to receive two Phase II grants totaling $2 million under the U.S. Department of Energy's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs.
"RMD continues to be recognized as a world leader in the areas of nuclear detection and nondestructive testing utilizing Eddy Current Technology," said Peter Sulick, Dynasil's Chairman of the Board, Chief Executive Officer and President. "Government agencies continue to tap our highly specialized research expertise to develop essential technology for nuclear waste monitoring and nondestructive testing applications."
RMD was selected to receive Phase II grants in the following areas:
- Wireless Detectors to Monitor Nuclear Waste Cask Systems - Nuclear cask storage systems provide an isolation barrier that keeps spent fuel in a safe, inert environment for decades. Due to this long period of time, it is essential to continually monitor the structural integrity of the spent fuel assemblies inside the casks including temperature, pressure, corrosion and the radioactive decay of isotopes.
The Department of Energy and the Electric Power Research Institute have initiated a program to develop the next generation of long-term nuclear waste storage casks which include lids that incorporate a variety of sensors to report on conditions inside the casks.
To address this program's needs, RMD is developing a radiation hard detector system that will detect beta particles emitted from 85Kr. This technology will have the capability to operate at elevated temperatures and in a high gamma radiation environment. Our system will be the foundation of a dry cask monitoring system that will be self-powered and capable of transmitting changes that occur in the cask via wireless communications.
- NDT techniques for Inspection of Concrete Structures in Nuclear Power Plants - The U.S. nuclear power plant infrastructure is aging, and new NDT techniques are needed for inspection of concrete structures in nuclear power plants because steel reinforcements can corrode and crack, leading to weakening of the structures. Existing NDT techniques do not provide a full picture of the structure's condition because of the difficulty in reliably assessing the condition of the steel reinforcements.
RMD is developing a new Eddy Current sensor array with the capabilities of detecting defects in steel reinforced concrete faster and with higher sensitivity and reliability than is currently possible. It will be used to test for defects in numerous concrete structures in nuclear power plants. Our system will reduce the cost and time required for inspection by providing more reliable data and decreasing costly downtime for in-service inspections. In addition to nuclear power, the public will benefit from our new NDT technology with safer roads, bridges, buildings and other concrete structures.
"We are proud of the cutting-edge research conducted by our very talented R&D team," said RMD's President, Dr. Kanai Shah. "Our goal is to perform world-class research on critical problems and then launch next generation products into the marketplace."
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.
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 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.
Dynasil Corporation of America
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