REG - Kromek Group PLC - Kromek wins £1.5m in nuclear security contracts

KromekAnnouncement

12/12/2022 07:00

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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 £1.5m 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
£1.5m, 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                                                   +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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