$5m received under Siemens Healthineers agreement

28 July 2025

Kromek Group plc 

("Kromek" or the "Company" or the "Group") 

Kromek receives $5.0m under agreement with Siemens Healthineers

Further to the Company's announcement of 30 January 2025, Kromek Group plc (AIM: KMK), a global detection company delivering best-in-class solutions for the advanced imaging and CBRN detection markets, is pleased to announce that it has received $5.0m as the second payment installment under its Enablement Agreement with Siemens Medical Solutions USA, Inc. ("Siemens Healthineers").

The receipt of this payment follows the successful delivery of certain milestones by Kromek under the Enablement Agreement. Including this payment, the Company has received $30.0m to date under the Enablement Agreement. The remaining aggregate payments of $7.5m are payable over the next three and a half years, with the third installment expected to be received in the Company's financial year to 30 April 2027.

Arnab Basu, Chief Executive Officer of Kromek, said: "We have continued to successfully deliver on our commitments under our landmark multi-year agreement with Siemens Healthineers, which is progressing as scheduled. To date, we have received a total of $30m, which is transformational for our business. Alongside supporting the delivery of various milestones under the agreement, it will significantly strengthen our balance sheet and provide a robust foundation for sustainable growth."

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Kromek Group plc 

Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.

The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.

In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation and solid-state readout technology, are primarily used to protect critical infrastructure, events, personnel and urban environments from the threat of 'dirty bombs'.

The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.

Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.