REG - Kromek Group PLC - Kromek awarded £2.0m contract from UK MOD

KromekAnnouncement

16/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240916:nRSP2344Ea&default-theme=true

RNS Number : 2344E  Kromek Group PLC  16 September 2024

16 September 2024

 

Kromek Group plc

("Kromek" or the "Group")

 

Kromek awarded £2.0m contract from UK Ministry of Defence

 

Kromek (AIM: KMK), a leading developer of radiation and bio-detection
technology solutions for the advanced imaging and CBRN detection segments, is
pleased to announce that it has been awarded a contract worth £2.0m by the UK
Ministry of Defence ("MOD") for the supply of nuclear radiation detectors and
ancillary products. The contract is to be delivered in the Group's current
financial year ending 30 April 2025.

 

The contract, which was awarded after a competitive tender process, is for the
supply of the Group's D5 RIID, a handheld, highly-sensitive gamma and neutron
detector, along with the Group's Alpha Beta probe attachment and other
associated products. Launched in November 2023, the Alpha Beta probe connects
directly to the D5 RIID to enable alpha and beta radiation to be detected,
allowing the single, small form factor upgraded device to detect all types of
radioactive material.

 

Arnab Basu, CEO of Kromek, said: "We are delighted to have won this important
contract from the UK MOD, which is a significant strategic customer for
Kromek. That it was awarded after a rigorous tender process provides excellent
endorsement of the strength of our solution. It is also great validation to
receive this key order for our Alpha Beta probe so soon after its launch at
the end of last year. With the Alpha Beta probe upgrade, our D5 RIID is one of
the most versatile handheld radiation detectors available today. We are
looking forward to delivering this contract and supporting UK national defence
efforts and to continuing to strengthen our relationship with this important
customer."

 

 

For further information, please contact:

 

 Kromek Group plc
 Arnab Basu, CEO                                                        +44 (0)1740 626 060

 Paul Farquhar, CFO

 Cavendish Capital Markets Limited (Nominated Adviser and Broker)        
 Geoff Nash/Giles Balleny/Seamus Fricker - Corporate Finance            +44 (0)20 7220 0500

 Tim Redfern - ECM
 Michael Johnson/Tamar Cranford-Smith - Sales

 Gracechurch Group (Financial PR)
 Harry Chathli/Claire Norbury/Henry Gamble                              +44 (0)20 4582 3500

 

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, 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 defense and security market. Kromek's compact, handheld,
high-performance radiation detectors, based on advanced scintillation
technology, are primarily used to protect critical infrastructure 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'.

 

Further information is available at www.kromek.com (http://www.kromek.com/)
.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTGPUQUBUPCPGA