Kromek secures orders totalling over $1m

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	[phone]
finnCap Ltd (Nominated Adviser and Broker)
Geoff Nash/Seamus Fricker/George Dollemore - Corporate Finance   Tim Redfern/Charlotte Sutcliffe - ECM	[phone]
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury	[phone]

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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