Kromek Group PLC Kromek awarded US nuclear security contract (9167F)
November 10 2022 - 2:00AM
UK Regulatory
TIDMKMK
RNS Number : 9167F
Kromek Group PLC
10 November 2022
10 November 2022
Kromek Group plc
("Kromek" or the "Group")
Kromek awarded US nuclear security contract
Repeat order worth $1.3m to supply D3M radiation detectors
delivered
Kromek (AIM: KMK), a leading developer of radiation and
bio-detection technology solutions for the advanced imaging and
CBRN detection segments, announces that it has received, and
delivered, a contract worth $1.3m from a US customer for the
Group's D3M wearable radiation detector.
This contract is a repeat order, with Kromek having now
delivered D3M orders worth $2.6m to this customer in the last six
months.
Kromek's D3M is a high-performance combined gamma/neutron
personal radiation detector that helps guard against the threat of
nuclear terrorism and the illicit movement of nuclear materials. It
is wearable, unobtrusive, hands-free and continuously scans for
radiation with a six-times lower false alarm rate than the standard
of the American National Standards Institute.
Dr Arnab Basu, Chief Executive Officer of Kromek, said: "We are
pleased to win this contract for our D3M radiation detectors. This
repeat order affirms the strength of our nuclear radiation
detection technology and highlights the growing market demand for
these products. It is also reflective of the strong trading that we
experienced in the first half of our FY 2023 year, and we expect to
report revenue growth of approximately 45% for the six months to 31
October 2022. This, combined with the momentum that we are seeing,
particularly in the CBRN segment, underpins the Board's confidence
in our prospects for the future."
For further information, please contact:
Kromek Group plc
Arnab Basu, CEO
Paul Farquhar, CFO +44 (0)1740 626 060
finnCap Ltd (Nominated Adviser and Broker)
Geoff Nash/Seamus Fricker/George Dollemore
- Corporate Finance
Tim Redfern/Charlotte Sutcliffe - ECM +44 (0)20 7220 0500
Gracechurch Group (Financial PR)
Harry Chathli, Claire Norbury +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 technology, are
primarily used to protect critical infrastructure 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'.
Further information is available at www.kromek.com .
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END
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