Kromek Group PLC Kromek secures orders totalling over $1m (5402U)
29 March 2023 - 5:00PM
UK Regulatory
TIDMKMK
RNS Number : 5402U
Kromek Group PLC
29 March 2023
29 March 2023
Kromek Group plc
("Kromek" or the "Group")
Kromek secures orders totalling over $1m in medical imaging
Repeat orders in key medical imaging target market of SPECT
Kromek Group plc (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 secured
repeat orders for its CZT-based detectors from three medical
imaging customers worth a total of $1.1m in the Group's key target
market of single photon emission computed tomography ("SPECT").
The orders comprise a $300k award for detectors for niche SPECT
applications, which is expected to be delivered in the Group's
current financial year, and a $563k order from an OEM for niche
SPECT applications and a $205k order for niche medical imaging
applications. The two latter orders are both from long-term
customers of Kromek with delivery due to commence during the
Group's current financial year and completing in the first half of
the 2024 financial year.
Arnab Basu, CEO of Kromek Group, said: "Receiving these orders
from long-term customers in the medical imaging market highlights
the regular, repeat nature of business in the advanced imaging
segment, which is a real strength for Kromek. They also reflect the
importance of SPECT and the sustained demand for our solutions in
this area. As the only commercial independent global supplier of
CZT, we are continuing to receive heightened interest from OEMs in
our advanced detectors for SPECT and CT applications. The growth in
demand from both new and existing customers reinforces the Board's
continued confidence in our prospects in this market."
ENDS
For further information, please contact:
Kromek Group plc
Arnab Basu, CEO
Paul Farquhar, CFO +44 (0)1740 626 060
finnCap Ltd (Nominated Adviser and Broker)
Geoff Nash/Seamus Fricker/George Dollemore
- Corporate Finance
Tim Redfern/Charlotte Sutcliffe - ECM +44 (0)20 7220 0500
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury +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 (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 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 .
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END
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