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Share Price Information for Kromek (KMK)

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Share Price: 7.85
Bid: 7.50
Ask: 8.20
Change: 0.10 (1.29%)
Spread: 0.70 (9.333%)
Open: 7.75
High: 7.90
Low: 7.58
Prev. Close: 7.75
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Kromek wins $2m threat-detection contract with US DoD

Mon, 10th Dec 2018 10:44

(Sharecast News) - Kromek was on Monday awarded its first contract for biological-threat detection by the Defense Advanced Research Projects Agency (DARPA), an agency of the US Department of Defense.The detection technology supplier said that the contract, which is worth $2.0m over a twelve-month period and commences immediately, is to develop a proof-of-concept device for a vehicle-mounted biological-threat identifier and builds on the success of Kromek's work with DARPA in nuclear-threat detection.Following the initial twelve-month period, the contract could potentially be extended to a multi-year contract for the development of a fully deployable system.Arnab Basu, chief executive of Kromek, said: "As the SIGMA programme has begun transitioning to the US Department of Homeland Security, DARPA is turning its focus to add the next generation of biological-threat detection systems."The project is intended to ensure quicker responses and reduced harm to both people and the environment in the instance of a biological attack, by reducing the time taken to detect an attack and identify specific pathogens."We are delighted to be awarded this additional contract from DARPA, as it expands our relationship with them and broadens our expertise into biological threat detection, adding to our radiological and nuclear threat detection capabilities," said Basu.Kromek's shares were up 3.92% at 26.50p at 1129 GMT.
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