Kromek Group PLC New Contracts (1425F)
14 Juillet 2021 - 8:00AM
UK Regulatory
TIDMKMK
RNS Number : 1425F
Kromek Group PLC
14 July 2021
14 July 2021
Kromek Group plc
("Kromek" or the "Group")
New Contracts
Kromek wins new contracts and orders across all segments for
delivery this year
Kromek (AIM: KMK), a worldwide supplier of detection technology
focusing on the medical, security screening and nuclear markets,
announces that it has received new contracts and repeat orders
across all of its target segments as commercial momentum continues
to increase across the business. All of the contracts are for
delivery in the Group's current financial year (except as otherwise
indicated).
In the nuclear detection segment, Kromek has received an order
worth GBP173,000 from its UK government-related customer for the
Group's D5 RIID high-performance radiation detector designed for
challenging environments. This represents the first major order for
the D5 RIID following its launch last year. The Group has also
received a EUR78,000 repeat order from the European Commission for
its D3S ID portable radiation detector.
An $84,000 repeat order has been received from a US medical
imaging customer, which is using Kromek's detectors in its systems
for nuclear medicine applications. Following the customer's recent
receipt of FDA approval for this system, the Group expects to be
awarded a multi-year supply contract in due course.
In its new target area of biological-threat detection, Kromek
has been awarded a GBP349,000 contract with the UK Ministry of
Defence, through its Defence and Security Accelerator Open Call for
Innovation programme, to develop its technology to meet defence and
security requirements for wide-area monitoring of biological
pathogens. The work will build upon Kromek's existing capabilities
in airborne pathogen detection and will run until November
2022.
In security screening for industrial applications, the Group has
been awarded a $250,000 repeat order from a US-based customer that
is a global leader in aerospace and defence technologies servicing
the US Department of Defense. The Group's detectors are designed
into the customer's system that is used for ammunition scanning and
the Group is the exclusive supplier of these detectors under a
ten-year agreement signed in 2017. The Group expects to receive
further orders from this customer over the coming years.
Dr Arnab Basu, CEO of Kromek, said: "It is great to be winning
contracts and orders across our target markets as our customers
increasingly return to pre-pandemic trading patterns. We're proud
to be furthering our partnerships with the UK and US defence
forces, including receiving our first major order for the D5 RIID,
and we're very excited about the prospects for our
biological-threat detection solution, with the latest award being
particularly focused on emerging and novel threats. At the same
time, our medical imaging order is typical of the growing trend of
OEM customers receiving approval for their next-generation scanners
containing our detectors, which leads to increased demand for our
technology as they prepare for rollout. All of this adds to our
visibility for the year ahead as we remain on track to deliver
significant growth."
For further information, please contact:
Kromek Group plc
Arnab Basu, CEO
Paul Farquhar, CFO +44 (0)1740 626 060
Cenkos Securities plc (Nominated Adviser
and Broker)
Camilla Hume/Giles Balleny (NOMAD)
Julian Morse (Sales) +44 (0)20 7397 8900
Luther Pendragon (Financial PR)
Harry Chathli
Claire Norbury +44 (0)20 7618 9100
About Kromek Group plc
Kromek Group plc is a technology group (global HQ in County
Durham) and a leading developer of high performance radiation
detection products based on cadmium zinc telluride ("CZT") and
other advanced technologies. Using its core technology platforms,
Kromek designs, develops and produces x-ray and gamma ray imaging
and radiation detection products for the medical, security
screening and nuclear markets.
The Group's products provide high resolution information on
material composition and structure and are used in multiple
applications, ranging from the identification of cancerous tissues
to hazardous materials, such as explosives, and the analysis of
radioactive materials.
The Group's business model provides a vertically integrated
technology offering to customers, from radiation detector materials
to finished products or detectors, including software, electronics
and application specific integrated circuits ("ASICs").
The Group has operations in the UK and US (California and
Pennsylvania), and is selling internationally through a combination
of distributors and direct OEM sales.
Currently, the Group has over 150 full-time employees across its
global operations. Further information on Kromek Group is available
at www.kromek.com and
https://twitter.com/kromekgroup.
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