REG - Kromek Group PLC - $5m received under Siemens Healthineers agreement

KromekAnnouncement

Mon 07:00

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RNS Number : 7696S  Kromek Group PLC  28 July 2025

28 July 2025

 

Kromek Group plc

("Kromek" or the "Company" or the "Group")

 

Kromek receives $5.0m under agreement with Siemens Healthineers

 

Further to the Company's announcement of 30 January 2025, Kromek Group plc
(AIM: KMK), a global detection company delivering best-in-class solutions for
the advanced imaging and CBRN detection markets, is pleased to announce that
it has received $5.0m as the second payment installment under its Enablement
Agreement with Siemens Medical Solutions USA, Inc. ("Siemens Healthineers").

 

The receipt of this payment follows the successful delivery of certain
milestones by Kromek under the Enablement Agreement.  Including this payment,
the Company has received $30.0m to date under the Enablement Agreement. The
remaining aggregate payments of $7.5m are payable over the next three and a
half years, with the third installment expected to be received in the
Company's financial year to 30 April 2027.

 

Arnab Basu, Chief Executive Officer of Kromek, said: "We have continued to
successfully deliver on our commitments under our landmark multi-year
agreement with Siemens Healthineers, which is progressing as scheduled. To
date, we have received a total of $30m, which is transformational for our
business. Alongside supporting the delivery of various milestones under the
agreement, it will significantly strengthen our balance sheet and provide a
robust foundation for sustainable growth."

 

 

For further information, please contact:

 

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

 Claire Burgess, 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- 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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