Kromek Nuclear Detection And Medical Imaging Arms Win Contacts

LONDON (Alliance News) - Kromek Group PLC Monday said it has been awarded a USD1.5 million ...

Alliance News 23 June, 2014 | 8:53AM
Email Form

LONDON (Alliance News) - Kromek Group PLC Monday said it has been awarded a USD1.5 million contract from the US Defense Threat Reduction Agency for the design, manufacture and optimisation of high sensitivity, next generation, solid state detectors for the homeland security radiation detection market.

The patented radiation detection technologies supplier also said it has signed contracts worth a combined USD950,000 with a range of clients to supply nuclear detection products to customers in the US and around the world.

These contracts are in the process of being fulfilled, with revenues due to Kromek now and falling in the financial year ending April 2015, the company said.

Kromek also said Monday that it has been granted contracts worth GBP150,000 due over the next 12 months from the Technology Strategy Board, the UK government's innovation agency, to develop an enhanced detection system for breast imaging in conjunction with the UK's Centre for Process Innovation.

The project aims to develop conformal detectors based on a plastic electronic solution which can be wrapped around or inside regions of interest such as breast and limbs. Kromek also hopes the production methods will be cost competitive when compared against existing silicon technologies.

Work on this project has already begun, the company said.

Kromek shares were quoted up 0.4% at 47.70 pence Monday morning.

By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews

Copyright 2014 Alliance News Limited. All Rights Reserved.

Email Form
Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Kromek Group PLC 24.38 GBX 1.56 -
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.