Contract extensions for D3S products

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 £460k 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 £2.5m 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	[phone]
Cenkos Securities plc (Nominated Adviser and Broker)
Max Hartley (NOMAD) Julian Morse (Sales)	[phone]
Luther Pendragon (PR)
Harry Chathli Claire Norbury Alexis Gore Joe Quinlan	[phone]

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 .

 

END

 

 

MSCKKOBPDBDBPBK