Kromek Group PLC Contract extensions for D3S products (8405H)
December 08 2020 - 1:00AM
UK Regulatory
TIDMKMK
RNS Number : 8405H
Kromek Group PLC
08 December 2020
8 December 2020
Kromek Group plc
("Kromek" or the "Group")
Kromek awarded two contract extensions for D3S products
Another key step towards customer's full wide-area system
roll-out to protect critical infrastructure and public spaces
Kromek (AIM: KMK), a worldwide supplier of detection technology
focusing on the medical, security screening and nuclear markets, is
pleased to announce that it has been awarded two contract
extensions by a European government-related company to provide
network solutions of its D3S-related technologies to counter
nuclear terrorism. The contract extensions are worth a total of
GBP460k and will be delivered in the current financial year.
The contract extensions are a further step towards Kromek
providing a full wide-area system roll-out for this customer, a
company that works with a European government to detect and protect
against potential nuclear threats. Kromek's solutions will be used
for inland security wide-area threat monitoring with the purpose of
protecting critical infrastructure and public spaces and includes
the provision of enhancing network data security. This brings the
total awarded by this customer to just over GBP2.5m over the last
two years.
Dr Arnab Basu, CEO of Kromek, said: "These contract extensions
are indicative of the rebound in commercial activity we are
experiencing across our business and further evidence that normal
trading patterns are returning for us as well as our customers.
"The D3S family of products is at the forefront of the
innovative solutions being adopted by governments worldwide for
countering threat of nuclear terrorism. These products, as part of
our radiation detection solutions, have been deployed in over 20
countries to keep critical infrastructure and public spaces safe.
We look forward to working with this customer and help with their
roll-out programme over the next few years."
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)
Max Hartley (NOMAD)
Julian Morse (Sales) +44 (0)20 7397 8900
Luther Pendragon (PR)
Harry Chathli
Claire Norbury
Alexis Gore
Joe Quinlan +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 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 .
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