REG - Thruvision Group PLC - CBP Framework Agreement and Contract Award

ThruvisionAnnouncement

03/10/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221003:nRSC4511Ba&default-theme=true

RNS Number : 4511B  Thruvision Group PLC  03 October 2022

 

3 October 2022

Thruvision Group plc

 

("Thruvision" or the "Company")

 

CBP Framework Agreement and Contract Award

 

Thruvision (AIM: THRU), the specialist provider of people-screening technology
to the international security market, is pleased to announce the award of a
Thruvision purchasing framework contract (the "Framework Agreement") by US
Customs and Border Protection (CBP).

 

The Framework Agreement, which is in addition to the upgrade contract
announced on 22 September, provides CBP with a simple procurement route to
purchase additional Thruvision technology and is consistent with its stated
intention to expand its "passive pedestrian scanning" capability which it
announced earlier in 2022. The Framework Agreement, which has been awarded to
Thruvision's US Government contracting partner, is for an initial twelve-month
term, with options for CBP to extend it for a further four years to 2026.

 

At the same time, CBP has placed an initial order under the Framework
Agreement for $7.0 million of additional Thruvision high-definition cameras
and accessories, bringing the total orders from CBP in this US Government
fiscal year (1 Oct 2021 to 30 September 2022) to $14.0 million. This order,
which will be substantially delivered this financial year, further expands the
CBP fleet of Thruvision equipment and is expected to extend operational
deployments into major US international airports for the first time. The order
size is ahead of the Company's expectations for FY23.

 

Thruvision technology provides CBP with a new capability to conduct "passive
pedestrian scanning" for concealed narcotics, cash and other prohibited items
at an increasing number of US Ports of Entry including land border crossings,
airports and seaports. The operational effectiveness of Thruvision technology
was proven during the summer of 2021, following the deployment of sixty
Thruvision cameras bought in two pilot purchases in 2019 and 2020.

 

Commenting on the award, Colin Evans, Chief Executive, said "We are delighted
that CBP continues to see significant operational benefit from using our
technology and has decided to start the process of rolling out our technology
to further sites across the US. As one of the world's largest Customs
organisations, CBP's adoption of our latest technology reinforces Thruvision's
international standing as a first-choice provider of security solutions which
offer excellent contraband detection performance whilst eliminating the need
for physically 'patting-down' individuals."

 

 

For further information please contact:

 

 Thruvision Group                                                              +44 (0)1235 436180
 plc

 Colin Evans, Chief Executive

 Tom Black, Executive Chairman

 Investec Bank plc                                                             +44 (0)20 7597 5970

 James Rudd / Patrick Robb / Sebastian Lawrence

 FTI Consulting LLP                                                            +44 (0)20 3727 1000

 Matt Dixon /  Tom Blundell

About Thruvision

Thruvision is the leading provider of safe distance, people security screening
technology. Using patented passive terahertz technology, Thruvision is
uniquely capable of detecting metallic and non-metallic threats including
weapons, explosives and contraband items that are hidden under clothing, at
distances between 3m and 10m. Addressing the growing need for safe, fast and
effective security, Thruvision completely removes the need for physical
"pat-downs" and has been vetted and approved by the US Transportation Security
Administration for surface transportation. Operationally deployed in 20
countries around the world, Thruvision is used for aviation and transportation
security, retail supply chain loss prevention, facilities and public area
protection and customs and border control. The company has offices near
Oxford, and  Washington DC.

www.thruvision.com (http://www.thruvision.com)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBKBBPABDDNKK