Kromek Group PLC Kromek wins GBP1.5m in nuclear security contracts (2954J)
December 12 2022 - 1:00AM
UK Regulatory
TIDMKMK
RNS Number : 2954J
Kromek Group PLC
12 December 2022
12 December 2022
Kromek Group plc
("Kromek" or the "Group")
Kromek wins two contracts totalling GBP1.5m for nuclear security
products
Contracts for supply of D3M and D3S-based products for European
government end-users
Kromek Group plc (AIM: KMK) , a leading developer of radiation
and bio-detection technology solutions for the advanced imaging and
CBRN detection segments, is pleased to announce that it has secured
two contracts, totalling GBP1.5m, for the supply of its D3M and
D3S-based nuclear security products. Delivery will commence
immediately and the revenue will be received in Kromek's current
financial year.
Both contracts have been secured with Kromek distribution and
procurement partners, and are to supply European government
end-users.
Kromek's nuclear security products help guard against the threat
of nuclear terrorism, accidents and the illicit movement of nuclear
materials. The contracts are for Kromek's D3M, D3 static node and
networking capability for these detectors. The D3M is a
high-performance combined gamma/neutron personal radiation detector
that is wearable, unobtrusive, hands-free and continuously scans
for radiation. Kromek's networked static radiation detection node,
which is based on the Group's D3S technology, is a small static
unit designed for radiation monitoring that can easily be deployed
discreetly with continuous power and communication in challenging
environments. This complete solution enables real time monitoring
and early warning capability providing actionable intelligence that
can be rapidly deployed.
Arnab Basu, CEO of Kromek Group, said: "We are delighted to have
been awarded these contracts to supply our D3M device, D3S-based
static node and networking capabilities. As governments reconsider
how they can best provide for the safety and security of their
people in the face of current geopolitical tension, demand for our
nuclear radiation detection technology continues to be strong.
These orders, which have been secured via our new partners, further
validate the strength of our offer. We look forward to delivering
these contracts and I am confident that we will continue to see
further growth in our CBRN segments."
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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