Kromek Group PLC New Medical Screening and Nuclear Security orders (6018Q)
March 01 2021 - 01:00AM
UK Regulatory
TIDMKMK
RNS Number : 6018Q
Kromek Group PLC
01 March 2021
1 March 2021
Kromek Group plc
("Kromek" or the "Group")
Kromek wins Medical Screening and Nuclear Security orders
New orders of $750k received in Kromek's core markets as
customers resume commercial activity
The Board of 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 received
two new orders worth a total of $750,000, with half of this value
due to be recognised during the current financial year. The orders
are from existing customers in the Group's medical imaging and
nuclear security markets.
The first order, from an existing OEM customer, is worth
$600,000 and is for the supply of detectors to be used in niche
SPECT applications. The Group is commencing delivery immediately
and this will complete by the end of this calendar year.
The second order is a repeat order from an existing US-based
customer, worth $150,000, for the supply of specialised CZT
detectors for a nuclear security application. This order is
expected to be delivered during the current financial year.
Dr Arnab Basu, CEO of Kromek, said: "These latest orders reflect
the beginning of the return to normal business activities as our
customers increasingly resume commercial activity. These repeat
orders, in our core commercial markets of medical imaging and
nuclear security, reflect the value of our technology to our
customers in these areas. In addition, with $375,000 due to be
delivered this financial year, they provide us with greater
visibility over our full year forecasts. We look forward to
delivering these orders and to continuing to expand our
pipeline."
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/Camilla Hume (NOMAD)
Julian Morse (Sales) +44 (0)20 7397 8900
Luther Pendragon (PR)
Harry Chathli/Claire Norbury/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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END
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