Kromek Regulatory News (KMK)

27 January 2020

Kromek Group plc

("Kromek" or the "Group")

Site visit by The Rt Hon Elizabeth Truss MP, Secretary of State for International Trade

Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, was pleased to welcome The Rt Hon Elizabeth Truss MP, Secretary of State for International Trade and President of the Board of Trade, on Friday, 24 January 2020, to its global headquarters in NETPark, County Durham.

As part of the Secretary of State's role to promote UK businesses overseas and attract international investment, Ms Truss was given an overview of Kromek's high-performance radiation detection products and how these are exported around the world, including the US where the Group has established strong links with government departments and agencies.

During the visit, Ms Truss was given a demonstration of the Group's state-of-the-art D3S personal radiation detectors and discussed how the platform is deployed internationally to counter nuclear terrorism. She was shown how these pocket-sized detectors are worn by frontline security officers to form interconnected, mobile networks across large urban areas and identify unexpected harmful radiation.

Also in attendance was, among others, Paul Howell MP, Marian Sudbury, Director of UK Regions at the Department for International Trade ("DIT"), and David Coppock, DIT North East Head of Trade.

Kromek is an official UK Export Champion and exports its products to over 40 countries while also developing further channels to reach the rest of the world.

Prior to the meeting, Kromek CEO Dr Arnab Basu joined Chris Skidmore MP, Minister of State for Universities, Science Research and Innovation, on a visit to Durham University.

As a former spin-out from Durham University's physics department, Kromek was able to highlight how exciting new technologies being developed at the university are reaching commercial markets all over the world. The Group considers the university to be an important partner and was delighted that the Minister recognised the research and innovation on show.

The Rt Hon Elizabeth Truss MP, Secretary of State for International Trade, said: "The UK is a global leader in developing cutting-edge products and exporting them around the world. Kromek's radiation detection technology is a fine example of this and it was fascinating to see how the company is keeping people safe around the world.

"I want to open up trading opportunities for businesses of all sizes across the North East of England. Free trade agreements will help deliver more investment, more jobs and more opportunities for people in every corner of the UK." 

Dr Arnab Basu, CEO of Kromek, commented: "It was a great honour to welcome the Secretary of State and demonstrate the leading role our radiation detection products play in keeping people safe around the world. As a company active in multiple global markets, we are grateful for the support of the Department for International Trade and proud to be a UK Export Champion.

"It was also a highly rewarding experience to accompany the Universities Minister on a visit to Durham University. We work closely with the university on many levels and the innovation on display showed exactly why the North East has risen to become a national hub for research and new commercial technologies."

For further information, please contact:

About Kromek Group plc

Kromek Group plc is a technology group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT") and other advanced technologies. Using its core technology platforms, Kromek designs, develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.

The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.

The Group's business model provides a vertically integrated technology offering to customers, from radiation detector materials to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").

The Group has operations in the UK and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.

Currently, the Group has over one hundred full-time employees across its global operations. Further information on Kromek Group is available at www.kromek.com and https://twitter.com/kromekgroup.