Tech firm’s £1.2m Asia deal for new product

RADIATION tech firm Kromek is toasting a £1.2m deal in the civil nuclear market.

The Sedgefield business has been awarded the contract to supply a new product for civil nuclear applications by one of the group’s distribution partners in Asia, and it will supply three new end customers in the region over the next 15 months.

The firm has outlined to shareholders how, more importantly, the deal represents an order for a new product, based on the group’s existing technology, with the development of the product having been funded by the distribution partner. The product is designed for applications including the detection, identification and analysis of radiological sources.

Arnab Basu, CEO of Kromek Group, said: “It is great to have received our first order for this new product line as we commence the commercialisation phase.

“It reflects the strength of our business model as another example of customer-funded development work transitioning to a product delivery phase. It is also indicative of the increasing interest that we are receiving in our CZT-based technology in the fastgrowing Asian markets. We look forward to receiving additional orders for this product line and continuing to expand our reach in Asia.”

The company’s technology has recently been used to help protect Ukrainian president Volodymyr Zelensky at an awards ceremony in Germany. Police in the German city of Aachen, supported by the EU Commission Protective Security Advisor team, used equipment made by the NETPark firm to secure a number of venues against radiological threats.

The company also recently marked 20 years in business with staff events in the US and UK.