Kromek Group PLC Award of GBP5m bio-threat contract by UK Government

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Kromek Group Plc	LSE:KMK	London	Ordinary Share	GB00BD7V5D43	ORD 1P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.40	-6.25%	6.00	5.80	6.20	6.40	6.00	6.40	1,049,943	15:45:04

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Pharmaceuticals & Biotechnology	12.1	-6.1	-1.1	-	26

Kromek (LSE:KMK)
Historical Stock Chart

From Oct 2022 to Mar 2023

TIDMKMK

RNS Number : 5259G

Kromek Group PLC

16 November 2022

Kromek Group plc

("Kromek" or the "Group")

Kromek awarded GBP5m biological threat-detection contract by UK Government Department

Three-year contract awarded for development and supply of bio-detection system

Kromek Group plc (AIM: KMK) , a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, is pleased to announce that it has secured a contract with a UK Government department to develop and supply biological threat detection systems.

Under the terms of the contract, Kromek will commence work in December for a three-year programme worth GBP4.9m. The contract also includes an option for extended maintenance services after the initial term.

Arnab Basu, CEO of Kromek Group, said: "We are delighted to have been awarded this contract to develop and supply an important capability for biological threat detection. The pandemic has demonstrated the impact of biological incidents - whether it is through an act of terror or naturally emerging threats. Governments throughout the world are reviewing their strategies to update their defence against such threats. We believe technologies that can provide information about emerging threats in near real time will be a critical component of such strategies."

For further information, please contact:

 
Kromek Group plc 
Arnab Basu, CEO 
 Paul Farquhar, CFO                          +44 (0)1740 626 060 
finnCap Ltd (Nominated Adviser and Broker) 
Geoff Nash/Seamus Fricker/George Dollemore 
 - Corporate Finance 
 Tim Redfern/Charlotte Sutcliffe - ECM       +44 (0)20 7220 0500 
Gracechurch Group (Financial PR) 
Harry Chathli, Claire Norbury                +44 (0)20 4582 3500

Kromek Group plc

Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.

The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.

In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation technology, are primarily used to protect critical infrastructure and urban environments from the threat of 'dirty bombs'.

The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.

Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.

Further information is available at www.kromek.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

CNTKELFFLFLXFBE

(END) Dow Jones Newswires

November 16, 2022 02:00 ET (07:00 GMT)

KMK