Kromek Group PLC Kromek receives $1.6m in advanced imaging orders (1363A)

TIDMKMK

RNS Number : 1363A

Kromek Group PLC

18 January 2024

Kromek Group plc

("Kromek" or the "Group")

Kromek receives $1.6m in advanced imaging orders

Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces that it has secured four orders totalling $1.63m in the advanced imaging segment.

The orders, which are all from existing OEM customers, are for the provision of the Group's detector components, based on its core CZT platform, for computed tomography ("CT") and gamma imaging applications and gamma probes. Two of the orders are for delivery in the current financial year and two are for delivery over the next 12 to 24 months.

Arnab Basu, CEO of Kromek, said: "We are pleased to have received these orders from existing customers, which is illustrative of the repeat nature of our business in the advanced imaging segment. With the increasing adoption of next-generation detection modalities by OEMs in the medical imaging market, we expect to continue to expand our customer base in this key area. Accordingly, and as our existing development agreements progress to the supply phase, we look forward to sustained growth in the volume of repeat business alongside winning orders from new customers."

ENDS

 
For further information, please contact: 
 Kromek Group plc 
 Arnab Basu, CEO 
  Paul Farquhar, CFO                             +44 (0)1740 626 060 
 
 Cavendish Capital Markets Limited (Nominated 
  Adviser and Broker) 
 Geoff Nash/Giles Balleny/Seamus Fricker - 
  Corporate Finance 
  Tim Redfern - ECM 
  Michael Johnson/Tamar Cranford-Smith - Sales   +44 (0)20 7220 0500 
 
 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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