(By Balaseshan) Dynasil Corporation of America (NASDAQ: DYSL) said its RMD Inc. subsidiary will develop next-generation radiation detection equipment for the U.S. Department of Homeland Security's Domestic Nuclear Detection Office (DNDO).
RMD has received multiple research contracts, totaling $3.4 million under the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
The contracts will advance the government's research and development initiatives focused on gamma and neutron radiation detectors capable of identifying illicit nuclear materials.
The company said these awards target the development of next generation devices that combat nuclear smuggling by improving detection of nuclear bombs and nuclear materials at ports, airports, railways and border crossings.
"The DNDO continues to tap our unique and highly specialized materials research expertise to develop technology for critical homeland security applications," said Peter Sulick, Dynasil's Chairman of the Board, Interim Chief Executive Officer and President.
Dynasil believes that the characteristics of its dual mode scintillation crystal technologies provide an effective and efficient solution to identify neutron and gamma rays, which are signatures of highly enriched uranium and weapons-grade plutonium.
With helium-3, the gold standard for neutron detection, now in critically short supply, the company's technology leadership positions it to assist the DNDO in its mission to enhance the nation's nuclear and radiological materials detection capabilities.
At the same time, research awards like these help drive Dynasil's commercialization efforts and advance the company's goal of developing proprietary technology that addresses significant market opportunities.
DYSL is trading up 2.53% at $1.52 on Friday. The stock has been trading between $1.03 and $2.53 for the past 52 weeks