Member Article

Durham’s Kromek in $1 million contract extension win

Durham-headquartered Kromek, a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce that it has been awarded a $1.0 million contract extension by a leading global security company providing innovative systems, products and solutions to government and commercial customers worldwide.

This follows the successful completion of the first phase for the design of Cadmium Zinc Telluride (“CZT”) based detectors and ASIC for nuclear safeguard markets.

Under the terms of the contract for this second phase, Kromek will focus on the delivery of the new ASIC and detectors as well as the testing and characterization of detector modules. The Company expects to deliver this over the next 12 months.

Additionally, the Company has been awarded several new contracts, worth approximately £0.7 million in aggregate with £0.4 million realisable in the current financial year, for applications across the Company’s three segments.

The majority of the sales are in the medical industry, with approximately $0.4 million attributable to bone mineral densitometry (“BMD”) applications.

This includes a contract from a leading global healthcare and diagnostics company for the first phase of a project to incorporate the Company’s detector modules into their diagnostics systems.

In addition, Kromek has received further contracts from two of its existing OEM customers for CZT-based detector modules for BMD applications.

Innovate UK (previously the Technology Strategy Board), sponsored by the UK Government’s Department for Business, Innovation & Skills, has awarded Kromek a contract, worth approximately £0.2 million, for an 18-month programme for the development of a novel radiation detector for the medical and nuclear markets.

This follows the successful delivery of previous projects, and is the fourth contract to be awarded to Kromek by Innovate UK in the current financial year.

Kromek has expanded its customer base with the award of its first contract from another global security technology group. Additionally, the Company won a new contract worth approximately $0.25 million for the supply of OEM components for its baggage screening product for aviation security.

CEO of Kromek, Arnab Basu, said: “We are delighted to have been awarded these contracts, which reflect progress across all of our business divisions and in multiple geographies.

“That this includes both new and existing customers provides further validation of our technological strength to manipulate a material such as CZT to enable our customers to make commercially viable products.

“We look forward to working with our partners to continue to develop leading-edge radiation detection solutions to enable safer travel, safer environments and better patient outcomes.”

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