Business
Contract Win and Update on Trading
Contract Win and Update on Trading.
About this update from Kromek Group Plc
[{"type":"text","content":"\n \nRNS Number : 9233M Kromek Group PLC 22 July 2014 \n \n\nEmbargoed until: 07.00, 22 July 2014\n \nKromek Group plc\n(\"Kromek\" or \"the Company\")\n \nContract Win and Update on Trading\n \nBottle Scanner Imaging Technology\n \nKromek (AIM: KMK.L), a supplier of patented radiation detection technologies to the medical, security and nuclear markets, is pleased to announce a significant contract win in the security market, providing its advanced bottle scanner technology to a number of airports in Asia. This initial contract is worth US$620,000, and its revenues are expected to be recognised in the current financial year ending 30 April 2015. \n \nKromek's bottle scanner makes use of multispectral x-ray technology to scan liquid, aerosol and gel containers being taken on to aeroplanes for the presence of dangerous liquids. The order will see Kromek's bottle scanners distributed across multiple airports. This latest contract is a further validation of Kromek's world leading technology in a security market that is expanding rapidly due to increased concerns about global security.\n \nUnlike other bottle scanning technologies, Kromek's multispectral x-ray detection technology is suitable for integration in baggage scanning equipment as well as in the stand alone Bottle Scanner. This technology allows a possible pathway to cater for changing security threats, such as explosives concealed inside small electronic devices and laptops; a function which has already been successfully demonstrated.\n \nKromek offers unique technology platform solutions and end user products for the screening of nuclear materials, conventional explosive threats, IEDs and liquid explosives. Its work has been supported by the US Department of Homeland Security, UK Home Office and the European Commission. Kromek recently completed an EU funded project where it utilised its multispectral x-ray detectors and advanced algorithms inside a commercial checkpoint baggage screening system. The technology has been tested using ECAC standards for the screening of liquids and demonstrated ultra-low false alarm rates, a critical parameter for operational needs in airports.\n \nCommenting on the contract win, CEO of Kromek Arnab Basu, said:\n \n\"Airport security needs to continue to develop and evolve to match in...