REG - Kromek Group PLC - Kromek receives additional $1m in CBRN orders

KromekAnnouncement

31/10/2023 07:00

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RNS Number : 7721R  Kromek Group PLC  31 October 2023

31 October 2023

 

Kromek Group plc

("Kromek" or the "Company" or the "Group")

 

Kromek receives additional $1m in CBRN orders

Nuclear security and bio-security orders from new and existing customers
globally

 

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 three further orders totalling over
$1m in the CBRN detection segment.

 

This includes two orders in nuclear security, with one order for the further
development of the Group's bio-security technology. The majority of the
revenue will be recognised in the current financial year, which helps to
underpin forecasts along with the recent $5.9m contract from the US Department
of Homeland Security.

 

Arnab Basu, CEO of Kromek, said: "Geopolitical insecurity, combined with other
global threats, continue to drive demand for our products that contribute to
ensuring public safety and security. Governments and their agencies buy our
products because they are best-of-breed and we have the ability to deploy
rapidly. The receipt of orders from existing customers is testament to the
strength of our offer and the value of our products to our customers. We are
also pleased to have received an order from a new customer that is a
substantial, global defence corporation, which we believe represents a
significant opportunity for further sales. With the sustained commercial
momentum in CBRN, we look forward to receiving further orders in due course."

 

 

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/Charlotte Sutcliffe - 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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