Up to $17million contract awarded following successful progression of development program
Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, is pleased to announce that it has been awarded a seven-year supply agreement by a US based, sector-leading industrial OEM with a global customer base. The agreement for Kromek’s first-generation contaminant detection solution, has a value of up to $17 million over the life of the contract and is expected to commence in the current financial year.
The contract was awarded following the successful progression of a two-year development program announced on 02 November 2020. Under this program, Kromek provided a CZT based detector solution for incorporation into the OEM’s systems for identifying contaminants during production processes for the purpose of product quality inspection.
Dr Arnab Basu, CEO of Kromek, said:
“We are delighted at the success of our collaboration with our OEM customer who has substantial global operations and market share in this sector. Our customer is dedicated to introducing best-ofbreed solutions in their next-generation products to ensure we can live healthier and safer lives. We anticipate developing further products for this customer to support their ambitions.”
This announcement contains inside information.