Kromek Regulatory News (KMK)

31 October 2023

Kromek Group plc 

("Kromek" or the "Company" or the "Group") 

Kromek receives additional $1m in CBRN orders

Nuclear security and bio-security orders from new and existing customers globally

Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces that it has secured three further orders totalling over $1m in the CBRN detection segment.

This includes two orders in nuclear security, with one order for the further development of the Group's bio-security technology. The majority of the revenue will be recognised in the current financial year, which helps to underpin forecasts along with the recent $5.9m contract from the US Department of Homeland Security.

Arnab Basu, CEO of Kromek, said: "Geopolitical insecurity, combined with other global threats, continue to drive demand for our products that contribute to ensuring public safety and security. Governments and their agencies buy our products because they are best-of-breed and we have the ability to deploy rapidly. The receipt of orders from existing customers is testament to the strength of our offer and the value of our products to our customers. We are also pleased to have received an order from a new customer that is a substantial, global defence corporation, which we believe represents a significant opportunity for further sales. With the sustained commercial momentum in CBRN, we look forward to receiving further orders in due course."

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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'.