Applied DNA Sciences lands $3M defense contract
James Hayward, chief executive, president and chairman, Applied DNA Sciences Inc., security and anti-counterfeiting products, Stony Brook on April 25, 2011. Credit: Newsday / Thomas A. Ferrara
Applied DNA Sciences Inc., a Stony Brook company that makes anti-counterfeiting products with strands of DNA, has secured a $3 million contract with the U.S. Department of Defense.
The two-year deal with the Defense Logistics Agency calls for Applied DNA to demonstrate how its technology could be used on bearings, piping, tubing and other components of military equipment.
The contract is a key breakthrough for the company, which has struggled for a decade to turn a profit as it has developed anti-counterfeiting stamps using plant DNA that can be embedded on microchips, military equipment, cash, rare bottles of wine and other items.
Applied DNA has lost $1.9 million during the first six months of 2014. The company's stock rose 12.5 percent Thursday, to 12 cents.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
