Kromek Group PLC Kromek receives new Nuclear Security contract

RNS Number : 9392L

Kromek Group PLC

25 April 2024

 

25 April 2024

 

Kromek Group plc

("Kromek" or the "Group")

 

Kromek receives new Nuclear Security contract from US federal entity

New contract worth up to $2.9m over two years

 

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 been awarded a contract, worth up to $2.9m, from a US federal entity for the provision of nuclear security products.

 

The contract, which is from an existing customer, covers the provision of the Group's D5 RIID, D3M and D3S-ID wearable high-performance radiation detectors. The Group has received a $358k order under this contract for immediate delivery, with up to $2.5m to be awarded over the next 24 months.

 

Arnab Basu, CEO of Kromek, said: "We are pleased to have received this new contract, which reflects the strength of our longstanding business relationships and the quality of our nuclear security offering. We are continuing to experience excellent momentum in CBRN Detection as the threats to public security persist across the globe. We believe our products provide best-in-class capability to manage these threats and, consequently, we expect to receive further nuclear security orders in the near term."

 

 

For further information, please contact: 

  

Kromek Group plc
Arnab Basu, CEO  Paul Farquhar, CFO	[phone]
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Geoff Nash/Giles Balleny/Seamus Fricker - Corporate Finance  Tim Redfern - ECM	[phone]
Michael Johnson/Tamar Cranford-Smith - Sales
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury/Henry Gamble	[phone]

 

 

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 and solid-state readout technology, are primarily used to protect critical infrastructure, events, personnel 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'.  

 

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