25th Apr 2024 12:22
(Alliance News) - Kromek Group PLC shares jumped on Thursday, after it said it has won a contract, worth up to USD2.9 million.
Shares in Kromek were up 9.0% to 7.63 pence each in London on Thursday afternoon.
The Sedgefield, England-based detection technology supplier said it has won a contract, worth up to USD2.9 million, from a "US federal entity" for the provision of nuclear security products.
The contract, which is from an existing customer, covers the provision of the company's D5 RIID, D3M and D3S-ID wearable high-performance radiation detectors.
Kromek said it has received a USD358,000 order under this contract for immediate delivery, with up to USD2.5 million to be awarded over the next 24 months.
Chief Executive Arnab Basu said: "We are pleased to have received this new contract, which reflects the strength of our longstanding business relationships and the quality of our nuclear security offering. We are continuing to experience excellent momentum in CBRN Detection as the threats to public security persist across the globe.
By Sophie Rose, Alliance News senior reporter
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