Kromek secures funding from US Defense Threat Reduction Agency

(Sharecast News) - Kromek has been awarded $1.8m in funding from the US Defense Threat Reduction Agency in order to develop a next-generation radiation-detection device to meet future military challenges.The AIM-listed radiation detection technology company will receive funding for its Radionuclide Identification Device over a two-year period to enhance its D3S platform to develop a ruggedised small form factor for use in the military field.Kromek told investors on Thursday that by using advanced detector materials, the device will generate higher resolution detection and superior localisation and identification of radioactive material for use by the US military in combat environments.Chief executive Dr Arnab Basu, said: "This project with the DTRA highlights the versatility of our technology platform as we develop a ruggedised device capable of identifying radioactive threats in a military environment.""Our long-term relationship with multiple agencies of the US Department of Defense is the result of a shared commitment to develop next-generation technology and we look forward to continuing this work with the DTRA."As of 1300 BST, Kromek shares had shot up 9.25% to 28.95p.