Dunlop previously rode for Simon Buckmaster’s PTR outfit in the past, enjoying success on the roads at the Isle of Man TT.
American Paasch, who is recovering from a broken scaphoid suffered at Snetterton, is expected to return at Oulton Park later this month.
Dunlop, who will now miss the Cookstown 100 in Co Tyrone, said: “Really good news to be riding the Dynavolt Triumph at Silverstone. I’ve been watching the bike as it’s progressed this year and the team seem to have done a great job.
“As a lot of people know I’ve had success with PTR and it will be great to be working with Simon and the boys again.
“It’s a good opportunity, I’m looking forward to it. Let’s see what we can do, it will be great to see everyone there.”
Dynavolt Triumph Team Manager Simon Buckmaster added: “We’ve a good working relationship with Michael, he’s got good feel for a bike and he’s a good Supersport rider. He’s really looking forward to it and so am I.
“It will be great working with him again, we’ve really enjoyed it in the past. Let’s see if we can’t surprise a few people.”