Today, Dais Analytic Corporation (OTCBB: DLYT) was granted an economic incentive award by Pasco County. The Board of County Commissioners unanimously approved $254,500 to speed Dais's progress developing a new generation of energy efficient, environmentally friendly heating, cooling, and refrigeration products called "NanoAir."
Scott Ehrenberg, Chief Technology Officer of Dais, said, "NanoAir uses known properties found in water, air from outside, and Dais's intelligent nanotechnology materials to create a highly efficient heating/cooling or refrigeration cycle. This process is accomplished without using environmentally harmful refrigerants while saving 50% or more on energy use and carbon based emissions. NanoAir will be able to heat/cool your home, car, school or business, and offer a less expensive refrigeration process to grocery stores, restaurants, etc. -- it forever changes a century old industry for the better."
In awarding this grant, Pasco County further validates Dais's efforts and recognizes the continued economic development potential in the targeted HVAC/Energy Efficiency market. In addition, the County recognized the coveted, highly competitive Advanced Research Project Agency - Energy (ARPA-E) grant Dais received earlier this year from the Department of Energy.
The County funding will complement and expand planned uses of the ARPA-E grant. Dais's project deliverable is specific energy and related data generated from two NanoAir test units due by August 2011. With success initial commercialization could begin shortly after project completion appearing as a newer option for the Company's existing ConsERV product line.
Commissioner Chairwoman Ann Hildebrand, a strong supporter of Dais, said, "We are so pleased to have Dais in our community and to be able to recognize their economic impact. Dais is focused on the most important E's for our County and Region; economic development and the environment."
Proceeds from this grant will enable the Company to bring on additional employees and contract for engineering services to decrease the time to initial commercial sales of this validated, disruptive heating/cooling and refrigeration process made possible by Dais's nanotechnology plastics.
Dais President and CEO Tim Tangredi stated, "The entire Dais team is thankful for the incredible support of Pasco County. With the momentum of the Company's many accomplishments in 2010 aided by this economic incentive grant we are even more bullish about our strong pace of growth in 2011 and beyond."
Dais energy efficient products include: ConsERV™ & NanoAir™ heating, ventilation, air conditioning and refrigeration (HVAC/R) products. Both are breakthrough processes for nearly all forms of heating/cooling/refrigeration equipment, which use 50% less energy, lower harmful emissions by a similar percentage, and use no fluorocarbon producing refrigerants. The savings is a direct comparison against current generation heating and cooling systems which rely upon the century-old mechanical and fluorocarbon refrigeration-based gas process.