Arnab Basu at Kromek

Arnab Basu at Kromek

18 May

2015

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Arnab Basu at Kromek

Industrials

Durham-based Kromek announces multiple contract wins with global OEMs

Posted by on 18 May 2015

Kromek, a radiation detection technology company focusing on the medical, security and nuclear markets, has signed multiple new contracts, worth a total of $982k, with both existing and new clients across its key target segments.

Statistics and Analysis

In the nuclear detection and security markets, the Durham-based business secured two new customers, with orders worth a combined $452k, from two global Original Equipment Manufacturers (OEMs).

Kromek will provide US-based clients with a portfolio of patented nuclear detectors to enhance their radiation detection capabilities for security applications.

The two new contracts will be delivered within the next 18 months with the majority of the orders expected to be completed and delivered in the current fiscal year.

In the medical market, Kromek has secured two new contracts, totalling $530k, from existing customers. The first contract is a repeat order for the supply of its Cadmium Zinc Telluride (CZT) detectors to a long standing OEM customer in the Single Photon Emission Computed Tomography (SPECT) market.  

The second order is for the delivery of Kromek’s ASIC, based on unique intellectual property, to a global player in the medical imaging market.

The company reportedly expects to deliver both contracts over the next 24 months.

Comment

Arnab Basu, CEO of Kromek, said: "We are delighted to secure four new contracts and to add two leading OEMs in the nuclear detection field as new customers.

“The agreements are a clear indication of Kromek’s continued progress across its key target segments.

“The deals further diversify our customer base, strengthen existing relationships and demonstrate confidence in our patented CZT-based technology and products, which continue to gain traction worldwide."

Summary

Four contracts secured, with new and current customers, across the medical and nuclear detection markets is great news for both the Durham-based PLC and the North East as a whole.

Read more in these areas:

#North East #international #science #stock market
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