The Board’s current business strategy comprises the following aspects:
To be the world-leading provider of multispectral radiation detection products and technologies to enable customers and users to take better decisions based on better information.
Increased product integration
Kromek aims to satisfy increasing customer demand for more integrated and complete solutions. Following the acquisition of eV Products, the Board plans to fully integrate its products into the Group’s existing offering and develop enhanced solutions.
Further commercialisation of the core technology
The Group plans to further commercialise its core technology through new product development for existing core markets, expansion into new geographical markets with existing products, including the opening of a sales office in Germany, and through licensing its technology in new market sectors.
In particular, the Directors believe that new modalities of nuclear detection, including further forms of cancer screening, as well as a continuing trend for networked sensors will create significant additional opportunities.
Enhanced OEM relationships
The Group will continue to supply its products and subcomponents to OEMs, and will aim to convert its current development contracts into long-term supply agreements. Additionally, the Group will target the development of new key relationships with further OEM partners in its target markets.