New Medical Screening and Nuclear Security orders

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	[phone]
Cenkos Securities plc (Nominated Adviser and Broker)
Max Hartley/Camilla Hume (NOMAD) Julian Morse (Sales)	[phone]
Luther Pendragon (PR)
Harry Chathli/Claire Norbury/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

 

 

CNTDVLFLFLLLBBE