Technology company Kromek has won a number of significant new contracts.
The Durham University spin-out, which floated on the junior share market AIM for the first time last year, will be working with the US Defense Threat Reduction Agency (DTRA) on the design, manufacture and optimisation of high sensitivity, next generation, solid state detectors for the homeland security radiation detection market.
The contract will be worth $1.45 million (around £853,000) over the next two years and will commence in July 2014.
Kromek chief executive Arnab Basu said: “Kromek is delighted to receive this award, which follows on from previous and current successful US Government programmes, and continues Kromek’s strategy in leading the field in detector technology and material identification.
“With other potential future applications of this new technology in security, medical and civil nuclear radiation detection we believe that this programme can further cement Kromek’s detector technology platforms into global growing markets”.
Additionally, the company, which develops materials and products for radiation detection, has secured contracts with a number of clients amounting to over $950,000 to supply nuclear detection products to customers in the US and around the world, which are currently being fulfilled.
Kromek has also started work on contracts worth £150,000 due over of the next 12 months from the Technology Strategy Board, the UK Government’s innovation agency.
These will see the firm help develop an enhanced detection system for breast imaging in conjunction with the UK’s Centre for Process Innovation.
Basu added: “We continue to win new customers in our key markets, highlighting the strength of our technology and the growing adoption of the new capabilities we can offer to partners and customers across the world.
“We look forward to updating shareholders as to further progress from our strong pipeline in due course.”