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Kromek Group PLC - Sedgefield, England-based detection technology supplier - Wins nuclear detection contract worth a minimum of USD960,000, with USD150,000 realised in its current financial year. Notes it will use USD260,000 to customise its CZT detector platform for integration into a new radiation detection product for the Asia market, which it plans to complete by the end of 2021. Says it will then supply the customised platform under a three-year contract, which is worth a minimum of USD700,000.
"By incorporating Kromek's CZT technology, our customers are able to differentiate their radiation detection products by offering a superior performance while maintaining a small footprint. We are also pleased that this long-term contract will contribute to our revenues for the current period, as well as support our visibility over the next three years," says Chief Executive Arnab Basu.
Current stock price: 16.10 pence
Year-to-date change: up 45%
By Zoe Wickens; zoewickens@alliancenews.com
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