REG - Kromek Group PLC - Kromek secures orders totalling over $1m

KromekAnnouncement

29/03/2023 07:00

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RNS Number : 5402U  Kromek Group PLC  29 March 2023

29 March 2023

Kromek Group plc

("Kromek" or the "Group")

 

Kromek secures orders totalling over $1m in medical imaging

Repeat orders in key medical imaging target market of SPECT

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 repeat orders for its
CZT-based detectors from three medical imaging customers worth a total of
$1.1m in the Group's key target market of single photon emission computed
tomography ("SPECT").

 

The orders comprise a $300k award for detectors for niche SPECT applications,
which is expected to be delivered in the Group's current financial year, and a
$563k order from an OEM for niche SPECT applications and a $205k order for
niche medical imaging applications. The two latter orders are both from
long-term customers of Kromek with delivery due to commence during the Group's
current financial year and completing in the first half of the 2024 financial
year.

 

Arnab Basu, CEO of Kromek Group, said: "Receiving these orders from long-term
customers in the medical imaging market highlights the regular, repeat nature
of business in the advanced imaging segment, which is a real strength for
Kromek. They also reflect the importance of SPECT and the sustained demand for
our solutions in this area. As the only commercial independent global supplier
of CZT, we are continuing to receive heightened interest from OEMs in our
advanced detectors for SPECT and CT applications. The growth in demand from
both new and existing customers reinforces the Board's continued confidence in
our prospects in this market."

 

ENDS

 

For further information, please contact:

 

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

 Paul Farquhar, CFO

 finnCap Ltd (Nominated Adviser and Broker)                         
 Geoff Nash/Seamus Fricker/George Dollemore - Corporate Finance    +44 (0)20 7220 0500

 Tim Redfern/Charlotte Sutcliffe - ECM

 Gracechurch Group (Financial PR)
 Harry Chathli/Claire Norbury                                      +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
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 (http://www.kromek.com/)
.

 

 

 

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