Member Article

Durham-based Kromek announces signings of new $1.1 million contracts

Durham-based Kromek, a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce that it has signed new contracts, worth a total of $1.1 million, with existing clients across all three of its target segments and in multiple geographies.

In the medical market, Kromek has secured $564k in new orders to supply radiation detectors and integrated electronic components to a leading global Original Equipment Manufacturer of dual energy x-ray bone mineral densitometry systems. DEXA BMD is the most accurate imaging technique to diagnose the strength and health of bones, allowing clinicians to accurately detect, monitor and treat Osteoporosis in patients.

In the nuclear detection and security markets, Kromek has secured new orders, worth $367,000, with a customer in Asia to supply its SPECT-DM Nuclear Imager and the recently launched eValuator™-3500 x-ray imager detection modules for improved materials identification in nuclear and security applications.

In addition, the Company has received a repeat order, worth $120k, from a leading OEM in the US to supply its patented detection modules to enhance the OEM’s radiation detection capabilities for its security applications.

The three new contracts will be delivered within the next 12 months with a large proportion of the revenue realised within the current fiscal year.

CEO of Kromek, Arnab Basu, said: “We are delighted to have been awarded these three new contracts that illustrate the progress Kromek continues to achieve across all of our target segments and in multiple geographies, including Asia - a key growth market.

“The new deals demonstrate the confidence our customers have in our products and further validate the benefits of our enhanced radiation detection capabilities.

“As current and new customers continue to adopt Kromek’s patented CZT-based technology, our products are gaining increased traction worldwide. We look forward to further strengthening our long-term customer relationships and building new ones across all of our target markets.”