A SEDGEFIELD firm has claimed its expansion into new premises will allow it to ramp up commercialisation of its ground-breaking technology.
Blue-sky tech firm Kromek has moved from NETPark’s incubator suite to new 20,000 sq ft premises - one of three new facilities designed to attract the best science and technology players to the region.
The building was officially opened yesterday by the Duke of York, Prince Andrew.
Kromek will use its new base, which is around 50% larger than its former facility, to develop technologies and fast-track them to the market.
Coming after the company’s acquisition of Californian R&D firm Nova last month, the move marks the latest stage in a grand plan to transform Kromek from university spin-out into a global business.
Kromek CEO, Arnab Basu, said: “The new headquarters allows us to have a proper production flow and work-flow lay-out. It’s more of a factory than a research and development space.”
He did not rule out further expansion at NETPark, possibly into one of the remaining two buildings that form part of a £10m investment in the site.
“NETPark’s vision is to become one of the UK’s leading science parks,” he added.
“One thing that attracted us was that fact that we can expand from here.”
Kromek was spun out of the physics department at Durham University and is a pioneer in developing X-ray imaging for the medical, security, industrial inspection and defence markets.
Earlier this year it won a £12.3m cash injection, raising the money from private investors in exchange for shares, bringing its valuation to an estimated £52m.
The company aims to roll out ground-breaking anti-terrorist equipment for airports this year and said it was working on other deals to commercialise its technology.
Since its inception in 2003, it has grown from a two-man operation into an organisation employing nearly 50 people.