Kromek Group PLC DARPA Sole Source Notice (6079B)

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RNS Number : 6079B

Kromek Group PLC

08 October 2015

8 October 2015

Kromek Group plc

("Kromek" or the "Company")

DARPA Sole Source Notice

US defence agency intends to appoint Kromek as sole source supplier under SIGMA

Kromek, a radiation detection technology company focusing on the medical, security and nuclear markets, announces that the Defense Advanced Research Projects Agency (DARPA), an agency of the U.S. Department of Defense, has issued a Sole Source Notice (the "Notice") stating that it intends to award a sole source contract to Kromek to supply spectroscopic personal radiation detectors (SPRDs) in support of DARPA's SIGMA program.

As noted in the Company's announcement of 17 April 2015, the programme with DARPA, which commenced in August 2014, is to develop an advanced personal detection system for gamma and neutron radiation that can be combined with other such systems to form large networks that can provide information on radiation signatures over an extended area. To date, Kromek has been awarded $4.35m in contracted revenues under the SIGMA programme for the development and piloting of the Company's solution. The contract referenced in the Notice would represent the transition to the commercial phase of the project.

The Notice is not a contractual commitment and therefore does not have an impact on the financial performance of the Company. As stated in the Notice, third parties could submit information to DARPA until 7 October 2015. DARPA will now determine whether it will conduct a competitive procurement or award the sole source contract to Kromek. The Company will update the market as appropriate.

The full Notice can be accessed at the following link:

https://www.fbo.gov/spg/ODA/DARPA/CMO/DARPA-SN-15-81/listing.html

Enquiries:

 
 Kromek Group plc                  01740 626 060 
 Arnab Basu, CEO 
  Derek Bulmer, CFO 
 
 Cenkos Securities plc             0207 397 8900 
 Bobbie Hilliam (NOMAD) 
  Julian Morse (Sales) 
 
 Luther Pendragon Ltd              0207 618 9100 
 Harry Chathli, Claire Norbury, 
  Alexis Gore 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 08, 2015 02:00 ET (06:00 GMT)