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 entered into a development agreement, worth up to $660k, with a US-based, sector-leading industrial OEM with a global customer base. The majority of the development programme is scheduled to be delivered during the Group’s current financial year and, following final completion, it is expected to transition to a multi-year supply contract.
Under the development agreement, the Group will customise one of its CZT detector platforms for incorporation into the customer’s systems for identifying contaminations during production processes.
Dr Arnab Basu, CEO of Kromek, said: “We are delighted to have secured another leading OEM customer with substantial global operations. This is further validation of the strength of our solutions. It also demonstrates the versatility of our CZT-based detector platforms, which transform the imaging and detection capabilities of our customers’ next-generation products to ensure we can live healthier and safer lives as well as reduce our customers’ cost of operation. We look forward to working with our new customer to successfully complete this development programme and establishing a long-term relationship.”