October 17, 2016, Kromek (AIM: KMK), a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce that it has won six new contracts totalling approximately $3.1m from new and existing customers including the US Defense Threat Reduction Agency (DTRA) and the UK Ministry of Defence. The contracts awarded were across all business segments and are expected be delivered over the next 6-24 months.
DTRA Contract and Technology Partnership
Kromek has been awarded a $1.6m two-year agreement by the US Defense Threat Reduction Agency, subject to final contract, to build on, and further enhance, the Group’s technology platform to develop a ruggedised high performance isotope radiation detector capable of use in military and other harsh environments. The Board believes that this is another major opportunity to adapt its technology base and supply into the U.S. military and security agencies to be used in the field.
Kromek is pleased to announce further enhancement of the D3S platform into disruptive, low cost Radiation Isotope Identification Device (RIID) and mini RIID devices for radiation and nuclear defence systems supporting the worldwide demand for such systems in homeland security and defence markets. In addition, the Board believes there are current publicly announced U.S. Department of Defense programmes where such products could play a significant role.
Other Five Significant Contracts
Nuclear Radiation Detection
Signed a $430k contract with the UK Ministry of Defence for the supply of nuclear radiation detection
products.
Extension to existing contract to extend the development and delivery of nuclear radiation detection
devices for a major civil nuclear partner amounting to $278k.
Both of these contracts are expected to be delivered over the next six months.
Medical
Entered into an agreement for the supply of CZT-based gamma radiation detectors with an existing
medical customer with a minimum value of $560k over the two-year agreement.
Aviation Security
Awarded two contracts totalling $265k for the Company’s bottle scanners, from an Asian airport
group, and components for screening systems, from an existing customer. These contracts are also
expected to be executed over the next six months.
Dr Arnab Basu, Chief Executive Officer of Kromek, said: “We are delighted to demonstrate progress in
all our business segments gaining new customers as well as deepening our relationship with existing
