Supply deal worth more than £12m for listed radiation detection company

X The Business Desk

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Radiation detection specialist, Kromek, 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 $17m/£12.4m over the life of the contract and is expected to start 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 Huddersfield-based 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-of-breed 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.”