logo-loader
viewKromek Group PLC

Kromek jumps as it secures bio-threat detection contract with DARPA

The contract, which begins immediately and will run for 12 months, is to develop a proof-of-concept device for a vehicle-mounted biological-threat identifier

Biohazard symbol
Kromek said the new system would reduce the detection and pathogen identification time

Kromek Group PLC (LON:KMK) shares jumped in early trading Monday after it was awarded its first contract for biological threat detection from the Defense Advanced Research Projects Agency (DARPA), part of the US Department of Defense.

The contract, which begins immediately and will run for 12 months, is to develop a proof-of-concept device for a vehicle-mounted biological-threat identifier.

READ: Kromek surges as it inks contract to supply technology for baggage scanning systems

The contract carries a value of US$1.99mln for the period and could potentially be extended to a multi-year contract to develop a fully deployable system.

Detection technology specialist Kromek said the new system would reduce the detection and pathogen identification time compared to current bio-threat detection systems.

The complete system is also aiming to extend the SIGMA network for biological threats as part of DARPA’s new SIGMA+ initiative.

Dr Arnab Basu, chief executive of Kromek, said the new contract expanded the firm’s relationship with the agency as well as broadening its own expertise into bio-threat detection.

READ: Kromek secures extension of DARPA contract to detect ‘dirty bombs’, worth US$1.6mln

The contract follows a previous win with DARPA in March when Kromek was awarded an extension of its high-volume production contract for its D3S nuclear detection devices.

Shares were up 3.9% at 26.5p.

--Adds share place--

 

Quick facts: Kromek Group PLC

Price: 12.875 GBX

AIM:KMK
Market: AIM
Market Cap: £44.37 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Kromek Group PLC named herein, including the promotion by the Company of Kromek Group PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Kromek Group 'well-positioned to report its highest ever full year revenues'

Kromek Group PLC's (LON:KMK) Dr Arnab Basu caught up with Proactive London's Andrew Scott to discuss their interims to October 2019. Revenues reached a record £5.3mln in the period - the rapid growth of the top line came as the County Durham-based firm got moving on the £100mln of...

on 11/12/19

2 min read