Kromek Group PLC Award of $1.6m extension to contract by DARPA (3383H)
March 12 2018 - 3:00AM
UK Regulatory
TIDMKMK
RNS Number : 3383H
Kromek Group PLC
12 March 2018
Approved for Public Release, Distribution Unlimited
12 March 2018
Kromek Group plc
("Kromek" or the "Company")
Kromek awarded $1.6m extension to contract by DARPA to enhance
operational capability of its leading-edge D3S family of
equipment
Kromek (AIM: KMK), a radiation detection technology company
focusing on the medical, security and nuclear markets, is pleased
to announce that it has been awarded an extension to its
high-volume production contract awarded in February 2016 by the
Defense Advanced Research Projects Agency ("DARPA"), an agency of
the US Department of Defense. The contract, worth $1.6m, will be
delivered over an 18-month period with revenue commencing during
the current financial year.
Under the terms of the extended contract, Kromek will add
further technical innovation capability to the Kromek D3S family of
equipment. The enhancements will take the already deployed Kromek
D3S product range into even greater operational capability by
improving user experience and enabling the device to provide
further information to the Homeland Security community and First
Responders. This extension is to the high-volume production
contract awarded by DARPA in February 2016, which has seen the
successful delivery of 10,000 D3S units and field-testing of the
standalone detectors in Washington DC and other major areas of
strategic importance to the US.
DARPA's SIGMA programme is aimed at preventing attacks involving
radiological "dirty bombs" and other nuclear threats in the US and
globally. The enhancements to Kromek's leading-edge D3S product
range will result in greater operational capability, ease of use
and provide more detailed information to the Homeland Security
community and First Responders.
Dr Arnab Basu, CEO of Kromek, said: "Having our D3S detectors
positioned as a central pillar in DARPA's SIGMA programme is a
testament to the capabilities of our state-of-the art technology
and the strength of our relationship with DARPA. With field tests
continuing in the US and across the globe, the D3S is gaining
traction as an invaluable tool to help cities detect and counter
the threat of dirty-bomb attacks."
For further information, please contact:
Kromek Group plc
Arnab Basu, CEO +44 (0)1740
Derek Bulmer, CFO 626 060
Cenkos Securities plc (Nominated
Adviser and Joint Broker)
Bobbie Hilliam (NOMAD) +44 (0)20 7397
Julian Morse (Sales) 8900
Cantor Fitzgerald Europe (Joint
Broker)
Philip Davies +44 (0)20 7894
Will Goode 7000
Luther Pendragon Ltd (PR)
Harry Chathli
Claire Norbury +44 (0)20 7618
Alexis Gore 9100
About Kromek Group plc
Kromek Group plc is a UK 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 one hundred full time employees
across its global operations. Further information on Kromek Group
is available at www.kromek.com and
https://twitter.com/kromekgroup.
This information is provided by RNS
The company news service from the London Stock Exchange
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