County Durham radiation tech specialist Kromek has won a contract worth almost £700,000 for its nuclear detection work.
The firm, based at NETPark in Sedgefield, which develops detection technology for the medical, security screening and nuclear markets, has been awarded a contract worth a minimum of $960,000 in the nuclear detection segment, around $150,000 (£108,000) of which it will receive this financial year.
The group will receive $260,000 (£187,000) to customise its CZT detector platform to be used in a new radiation detection product that will be available in Asia.
Kromek is starting development work straight away and it will be completed by the end of the year.
The group will then supply the platform under a three-year contract, which is worth a minimum of $700,000 (£504,000).
Dr Arnab Basu, CEO of Kromek, said: “We are delighted to have been designed into another product in the nuclear detection market.
“By incorporating Kromek’s CZT technology, our customers are able to differentiate their radiation detection products by offering a superior performance while maintaining a small footprint.
“We are also pleased that this long-term contract will contribute to our revenues for the current period as well as support our visibility over the next three years. We look forward to developing this customised solution and expanding our relationship with this product manufacturer.”
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The announcement comes a week after Kromek won two new orders worth a total of $750,000 (£540,000) – the first order to supply detectors to be used in niche SPECT applications and the second for a current US-based customer for the supply of specialised CZT detectors for a nuclear security application.
Last week it also announced it had successfully completed a £13m funding round from new and existing institutional investors, to help drive forward growth and de-risk and commercialise its bio-security and pathogen detector.
The company, which also has operations in Huddersfield, and at California and Pennsylvania in the US, currently sells to 50 countries across the world through a combination of distributors and direct to OEMs.