REG - Kromek Group PLC - New $1.5m CBRN contract in Asia

KromekAnnouncement

05/06/2023 07:00

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RNS Number : 5735B  Kromek Group PLC  05 June 2023

5 June 2023

Kromek Group plc

("Kromek" or the "Group")

 

New $1.5m CBRN contract in Asia

Contract for the supply of a new product for civil nuclear applications

 

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 a contract worth $1.5m in
the civil nuclear market, which is to be delivered over the next 15 months.

 

The contract has been awarded by one of the Group's distribution partners in
Asia and is to supply three new end customers in the region. Importantly, the
order is for a new product, based on the Group's existing technology, with the
development of the product having been funded by the distribution partner. The
product is designed for civil nuclear applications, including the detection,
identification and analysis of radiological sources.

 

Arnab Basu, CEO of Kromek Group, said: "It is great to have received our first
order for this new product line as we commence the commercialisation phase. It
reflects the strength of our business model as another example of
customer-funded development work transitioning to a product delivery phase. It
is also indicative of the increasing interest that we are receiving in our
CZT-based technology in the fast-growing Asian markets. We look forward to
receiving additional orders for this product line and continuing to expand our
reach in Asia."

 

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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