County Durham technology company Kromek has announced a $1.6m contract to provide radiation detection equipment to a US Government organisation.
The NETPark firm’s wearable nuclear radiation detector is designed to enable first responders, armed forces, border security and other staff to detect threats.
The order will be delivered over two years, with Kromek saying that its isotope identification devices are among the fastest and most accurate pieces of equipment on the market.
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It is the latest significant contract win from a US federal organisation for the North East company, which is rated one of the most innovative businesses in the country but has been battling to translate its scientific expertise into profit.
Dr Arnab Basu, CEO of Kromek, said: “We’re pleased to have received this order from the United States. It is testament to the ingenuity and innovation of our company in delivering world-leading capabilities.
“The D3S-ID nuclear radiation detector provides a comprehensive and cost-effective solution for the detection of nuclear threats.
“With global defence and security spend on the rise around the world in response to volatile international relations, we expect to receive further orders for our nuclear security products, contributing to our significant anticipated revenue growth for this year and our pipeline for the years ahead.
“Only last month there was an incident in France of a student building a dirty bomb with uranium oxide bought online. This case highlights both the pervasiveness and accessibility of such dangers and the need for constant monitoring.
“Networked solutions such as our D3S platform, which is continuously scanning in real time, provides security authorities with an early warning system for potential threats, enabling a more effective response.”
Kromek, a Durham University spin-out that is the largest company on the NETPark science park in Sedgefield, is a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets. It currently exports to around 55 countries.
In July the company announced that annual revenues had fallen 21% and said that the pandemic had set back its path to profitability by two years.
But it raised £13m from investors in February and said that it was seeing an acceleration of its commercial activity with hopes of hitting revenues of £15m this year.