Kromek Group PLC Kromek wins GBP1.5m in nuclear security contracts (2954J)

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RNS Number : 2954J

Kromek Group PLC

12 December 2022

12 December 2022

Kromek Group plc

("Kromek" or the "Group")

Kromek wins two contracts totalling GBP1.5m for nuclear security products

Contracts for supply of D3M and D3S-based products for European government end-users

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 two contracts, totalling GBP1.5m, for the supply of its D3M and D3S-based nuclear security products. Delivery will commence immediately and the revenue will be received in Kromek's current financial year.

Both contracts have been secured with Kromek distribution and procurement partners, and are to supply European government end-users.

Kromek's nuclear security products help guard against the threat of nuclear terrorism, accidents and the illicit movement of nuclear materials. The contracts are for Kromek's D3M, D3 static node and networking capability for these detectors. The D3M is a high-performance combined gamma/neutron personal radiation detector that is wearable, unobtrusive, hands-free and continuously scans for radiation. Kromek's networked static radiation detection node, which is based on the Group's D3S technology, is a small static unit designed for radiation monitoring that can easily be deployed discreetly with continuous power and communication in challenging environments. This complete solution enables real time monitoring and early warning capability providing actionable intelligence that can be rapidly deployed.

Arnab Basu, CEO of Kromek Group, said: "We are delighted to have been awarded these contracts to supply our D3M device, D3S-based static node and networking capabilities. As governments reconsider how they can best provide for the safety and security of their people in the face of current geopolitical tension, demand for our nuclear radiation detection technology continues to be strong. These orders, which have been secured via our new partners, further validate the strength of our offer. We look forward to delivering these contracts and I am confident that we will continue to see further growth in our CBRN segments."

For further information, please contact:

 
Kromek Group plc 
Arnab Basu, CEO 
 Paul Farquhar, CFO                          [phone] 
finnCap Ltd (Nominated Adviser and Broker) 
Geoff Nash/Seamus Fricker/George Dollemore 
 - Corporate Finance 
 Tim Redfern/Charlotte Sutcliffe - ECM       [phone] 
Gracechurch Group (Financial PR) 
Harry Chathli, Claire Norbury                [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 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 .

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December 12, 2022 02:00 ET (07:00 GMT)