REG - Kromek Group PLC - Kromek receives new Nuclear Security contract

KromekAnnouncement

25/04/2024 07:00

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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                                                        +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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