Kromek Group PLC (AIM:KMK) shares marched 24% higher to 5.15p after it reported winning a US$5.9 million contract from the US Department of Homeland Security (DHS) to research and develop biosecurity technologies.
The four-year contract, which was awarded by the DHS Countering Weapons of Mass Destruction (CWMD) Office, will begin immediately and the AIM-listed radiation and bio-detection specialist expects US$874,000 during the first year.
Research will focus on developing an agent-agnostic bio-detection system, with the output of the programme aimed at providing increased capability to detect and identify biological threats in response to the operational needs of the DHS, with the CWMD Office prioritising the detection, classification and identification of bioterrorism attacks.
The contract will build on Kromek’s existing expertise and technology in the field of automated bio-detection solutions, said chief executive Arnab Basu.
“It is our first biosecurity contract from the Department of Homeland Security and underscores our belief that there are significant market opportunities in this area, as our technologies align well with government biosecurity strategies,” he said.
“Biological threats are an increasing priority for governments, particularly in light of the pandemic. and will be an important step in making the world safer from the threat of bioterrorism and other biological threats."