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Kromek unveils US$3.1mln radiation detection deal with US homeland security customer

"We are delighted to announce our first long-term contract in the security screening market,” said Dr Arnab Basu, Kromek chief executive.
hand over cash
The deal is worth at least US$3.1mln over five years

Radiation detection specialist Kromek PLC (LON:KMK) has unveiled a new five-year contract to an unnamed US customer described as being in the homeland security marketplace.

It is an existing customer, and the company said the contract is worth at least US$3.1mln.

The deal sees Kromek provide key components for new generation screening systems for the detection of explosives. The company highlights that these new products will have advanced capabilities that will make them ideal for detecting homemade explosives.

"We are delighted to announce our first long-term contract in the security screening market,” said Dr Arnab Basu, Kromek chief executive.

“It is also significant because this is another OEM [original equipment manufacturer] customer that has moved from being an R&D customer to one who is entering a commercial phase.”

Basu added that the new contract added to the company’s visibility of revenues.

He says it underpins a belief that Kromek will continue to grow as a result of its ‘commercial traction’ and an increasing adoption of its technology.

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