1 July 2019
Kromek Group plc
("Kromek" or the "Group")
Kromek awarded new contracts for D3S nuclear detection platform in UK, US and Europe
Three new contracts for D3S and related technologies worth approx. £1.6m
Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, is pleased to announce that it has been awarded three contracts, in the UK, US and Europe, for its D3S platform for nuclear radiation detection.
These new awards consist of:
· a £1.1m contract from a UK government-related company to provide D3S-related technologies;
· a $389k contract from the US government's Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND) to provide D3S-related customisation for military operational transition, which will leverage the DARPA SIGMA Program sensor and technology; and
· a €180k contract from the European Commission's Directorate-General for Migration and Home Affairs for the D3S-ID and drone-mounted D3S for wide-area monitoring.
The D3S products were developed under the SIGMA programme, an initiative of the US Department of Defense's Defense Advanced Research Projects Agency ("DARPA"). The aims of the SIGMA programme are to revolutionise detection and deterrent capabilities for countering nuclear terrorism by developing more capable radiation detectors while lowering costs, along with innovative deployment strategies. Kromek has developed a family of products and technologies under this programme, which have been deployed and field-tested in areas of strategic importance in the US and globally.
Arnab Basu, CEO of Kromek, commented: "The D3S platform continues to gain traction in the US and the rest of the world. We are working with a number of high value-customers in a number of countries for deployment and implementation of this technology. These new contracts are great examples of the commercial progress in this area as well as the varied security and military applications for our D3S family of products."
This announcement contains inside information.
For further information, please contact:
Kromek Group plc
Arnab Basu, CEO
Derek Bulmer, CFO
+44 (0)1740 626 060
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Max Hartley (NOMAD)
Julian Morse (Sales)
+44 (0)20 7397 8900
Luther Pendragon Ltd (PR)
+44 (0)20 7618 9100
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.