26 March 2024
Kromek Group
plc
("Kromek"
or the "Group")
Kromek
receives $2.1m security screening order
New order
from long-standing OEM customer
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 received a $2.1m order from an existing
US-based OEM customer that is an emerging leader and global company
in the homeland security marketplace.
The order is for the supply of key
detector components for incorporation into the customers' advanced
security screening system for the detection of explosives. Delivery
will commence in the current year and complete in the first half of
FY 2025. The Group has been supplying this customer since 2017 when
it was awarded a five-year delivery contract, following the
completion of an R&D phase to design components to meet the
customer's requirements, and it expects to enter another long-term
delivery contract.
Arnab Basu,
CEO of Kromek, said: "We are pleased to have
received this latest order from a long-standing customer in the
security screening market. It demonstrates the strength of our
advanced imaging business where, after an initial design phase, we
continue to receive orders for years to come. It also adds to the
growing pipeline for FY 2025, which we expect to be a year of
further growth. In addition, with the global aviation market now
recovering, we expect another long-term delivery contract in due
course, which will provide enhanced visibility into 2025 and
beyond. We look forward to updating the market on our
progress."
For
further information, please contact:
|
Kromek Group
plc
|
|
|
Arnab Basu, CEO
Paul Farquhar,
CFO
|
+44 (0)1740 626 060
|
|
|
|
|
Cavendish Capital Markets Limited (Nominated Adviser and
Broker)
|
|
|
Geoff Nash/Giles Balleny/Seamus
Fricker - Corporate Finance
Tim Redfern - ECM
|
+44 (0)20
7220 0500
|
|
Michael Johnson/Tamar Cranford-Smith - Sales
|
|
|
Gracechurch Group
(Financial PR)
|
|
|
Harry Chathli/Claire Norbury/Henry Gamble
|
+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 and
solid-state readout technology, are primarily used to protect
critical infrastructure, events, personnel 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'.