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LONDON (Alliance News) - Medical, security and nuclear detector supplier Kromek Group PLC said Tuesday it secured a USD1.4 million multi-year contract with a new nuclear security customer.
The three-year contract with an unnamed new original equipment manufacturer customer is worth a minimum of USD1.4 million over the period.
For the year ended April 2018, Kromek reported GBP11.9 million in revenue and GBP2.5 million in pretax losses.
The contract will see Kromek supply its cadmium zinc telluride detectors to the customer and starts immediately.
"It is very pleasing to sign another multi-year contract with a new OEM customer in the nuclear security market," Kromek Chief Executive Officer Arnab Basu said. "This further validates the strength of our high-resolution detectors that enable accurate identification of threats. The contract increases our visibility of future revenue and, with our recent fundraising, we are better able to capitalise on similar opportunities in this fast-growing market."
Shares in Kromek were 0.6% higher at 27.01 pence on Tuesday.
