REG - Kromek Group PLC - Kromek receives $1.6m in advanced imaging orders

KromekAnnouncement

18/01/2024 07:00

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RNS Number : 1363A  Kromek Group PLC  18 January 2024

18 January 2024

Kromek Group plc

("Kromek" or the "Group")

 

Kromek receives $1.6m in advanced imaging orders

 

Kromek Group plc (AIM: KMK), a leading developer of radiation and
bio-detection technology solutions for the advanced imaging and CBRN detection
segments, announces that it has secured four orders totalling $1.63m in the
advanced imaging segment.

 

The orders, which are all from existing OEM customers, are for the provision
of the Group's detector components, based on its core CZT platform, for
computed tomography ("CT") and gamma imaging applications and gamma probes.
Two of the orders are for delivery in the current financial year and two are
for delivery over the next 12 to 24 months.

 

Arnab Basu, CEO of Kromek, said: "We are pleased to have received these orders
from existing customers, which is illustrative of the repeat nature of our
business in the advanced imaging segment. With the increasing adoption of
next-generation detection modalities by OEMs in the medical imaging market, we
expect to continue to expand our customer base in this key area. Accordingly,
and as our existing development agreements progress to the supply phase, we
look forward to sustained growth in the volume of repeat business alongside
winning orders from new customers."

 

ENDS

 

 For further information, please contact:

  

Kromek Group plc
 Arnab Basu, CEO                                                        +44 (0)1740 626 060

 Paul Farquhar, CFO

 Cavendish Capital Markets Limited (Nominated Adviser and Broker)        
 Geoff Nash/Giles Balleny/Seamus Fricker - Corporate Finance            +44 (0)20 7220 0500

 Tim Redfern - ECM

 Michael Johnson/Tamar Cranford-Smith - Sales

 Gracechurch Group (Financial PR)
 Harry Chathli/Claire Norbury/Henry Gamble                              +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 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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