Kromek listed on the AIM market in October, 2013 and is a UK company pioneering digital colour imaging for x-rays using cadmium zinc telluride crystals.
14 Jun 2021
$6m contract win for breakthrough biothreat detector
Once the world is fully vaccinated, many investors incorrectly assume there will be no need for covid testing. Wrong. More contagious & deadlier variants are sure to appear, together with perhaps totally new infectious diseases that might even trigger another pandemic.
Equally, the danger posed by deliberate (re rogue states, organised crime &/or terrorism) &/or even accidental (say a lab) biological release of harmful pathogens into the environmental isn’t going away anytime soon. The US government recognises this, and hence wants to get ahead of the curve.
Today, pioneering radiation detection firm Kromek said that it had received a $6m follow-on order from DARPA. Covering Phase II of its development of a biological threat detector which - via rapid DNA sequencing – will continually monitor, sense, analyse and identify such airborne bugs. The work starts immediately & is set to run over the next 28 months.
Clearly this is another marvellous endorsement of KMK’s technology, and we have prudently held our forecasts and 26p/share valuation. Albeit accepting that this major agreement provides significantly enhanced forward visibility.