Kromek awarded £2.0m contract from UK MOD

Kromek Group PLC

16 September 2024

 

16 September 2024

Kromek Group plc

("Kromek" or the "Group")

Kromek awarded £2.0m contract from UK Ministry of Defence

Kromek (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 been awarded a contract worth £2.0m by the UK Ministry of Defence ("MOD") for the supply of nuclear radiation detectors and ancillary products. The contract is to be delivered in the Group's current financial year ending 30 April 2025.  

The contract, which was awarded after a competitive tender process, is for the supply of the Group's D5 RIID, a handheld, highly-sensitive gamma and neutron detector, along with the Group's Alpha Beta probe attachment and other associated products. Launched in November 2023, the Alpha Beta probe connects directly to the D5 RIID to enable alpha and beta radiation to be detected, allowing the single, small form factor upgraded device to detect all types of radioactive material.   

Arnab Basu, CEO of Kromek, said: "We are delighted to have won this important contract from the UK MOD, which is a significant strategic customer for Kromek. That it was awarded after a rigorous tender process provides excellent endorsement of the strength of our solution. It is also great validation to receive this key order for our Alpha Beta probe so soon after its launch at the end of last year. With the Alpha Beta probe upgrade, our D5 RIID is one of the most versatile handheld radiation detectors available today. We are looking forward to delivering this contract and supporting UK national defence efforts and to continuing to strengthen our relationship with this important customer."  

For further information, please contact:

Kromek Group plc
Arnab Basu, CEO  Paul Farquhar, CFO	[phone]
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Geoff Nash/Giles Balleny/Seamus Fricker - Corporate Finance  Tim Redfern - ECM	[phone]
Michael Johnson/Tamar Cranford-Smith - Sales
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury/Henry Gamble	[phone]

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, 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 defense 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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