REG - Kromek Group PLC - Kromek wins over $750k in new orders

KromekAnnouncement

02/08/2022 07:00

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RNS Number : 5282U  Kromek Group PLC  02 August 2022

2 August 2022

 

Kromek Group plc

("Kromek" or the "Group")

 

Kromek wins over $750k in new orders

Repeat orders in medical imaging to be delivered this financial year

 

Kromek (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 received two new orders worth a total of
$751k, with both to be delivered in the Group's current financial year.

 

The new orders, which are both from existing OEM customers in the medical
imaging market, are as follows:

 

·   A $500k order, from a longstanding customer, for the supply of
detectors for bone mineral densitometry applications; and

·      a $251k order from a US medical imaging customer that is using
Kromek's CZT detectors in their gamma probes for nuclear medical applications.
Following the customer receiving FDA approval for this system last year, the
Group has received a number of repeat orders and expects further regular
business.

 

Dr Arnab Basu, CEO of Kromek, said:

 

"These latest orders from long-standing OEM customers in our niche medical
markets continue the Group's momentum and underpin the Board's confidence in
meeting current year expectations. The Board also believes these orders are
indicative of the regular, repeat nature of business in the advanced imaging
segment. Once designed into a customer's next-generation system, we typically
continue to receive repeat orders, which can also transition to a multi-year
supply agreement. Thanks to the value of our technologies for medical
screening applications, we have established a strong customer base and we look
forward to continuing our robust growth in this market driven by the
significant opportunities in the SPECT and CT segment."

 

 

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/Kate Bannatyne/George Dollemore - Corporate Finance  +44 (0)20 7220 0500
 Tim Redfern/Charlotte Sutcliffe - ECM

 Luther Pendragon (Financial PR)
 Harry Chathli/Claire Norbury                                    +44 (0)20 7618 9100

 

About 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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