County Durham based Kromek announces contract wins worth $1.1m

The Sedgefield radiation technology specialists have secured orders across medial, nuclear and security markets - all of its target segments

Arnab Basu, chief executive of Kromek
Arnab Basu, chief executive of Kromek

Radiation detection specialists Kromek have secured contracts worth $1.1m (£700,000) after successes across all of its markets.

The Sedgefield-based firm, which produces x-ray and gamma ray imaging and radiation detection products, issued a market note announcing progress globally across medical, nuclear and security markets, with three new contracts from existing customers.

The new deals are across all three of the AIM-listed company’s target segments and in multiple geographies.

In the medical market, the firm has secured $564,000 (£369,000) in new orders to supply radiation detectors and integrated electronic components to a leading global Original Equipment Manufacturer (OEM) of dual energy x-ray bone mineral densitometry systems.

The system is the most accurate imaging technique to diagnose the strength and health of bones, allowing clinicians to accurately detect, monitor and treat osteoporosis in patients.

Meanwhile, in the nuclear detection and security markets, Kromek has secured new orders worth $367,000 (£240,000) with a customer in Asia to supply its SPECT-DM Nuclear Imager and its recently launched eValuator-3500 x-ray imager detection modules, to be used in nuclear and security applications.

The company has also received a repeat order, worth $120,000 (£78,600), from a US manufacturer to supply its patented detection modules.

The three new contracts will be delivered by the Durham University spin-out within the next 12 months with a large proportion of the revenue realised within this financial year.

Arnab Basu, chief executive of Kromek, said: “We are delighted to have been awarded these three new contracts that illustrate the progress Kromek continues to achieve across all of our target segments and in multiple geographies, including Asia - a key growth market.

“The new deals demonstrate the confidence our customers have in our products and further validate the benefits of our enhanced radiation detection capabilities.

“As current and new customers continue to adopt Kromek’s patented CZT-based technology, our products are gaining increased traction worldwide.

“We look forward to further strengthening our long-term customer relationships and building new ones across all of our target markets.”

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