The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under The Market Abuse Regulation (EU 596/2014) pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2018. Upon the publication of this announcement via a Regulatory Information Service ( RIS ), this inside information is now considered to be in the public domain. Not for publication, distribution or release directly or indirectly, in whole or in part, in or into the United States of America, Canada, Australia, Japan, the Republic of Ireland, the Republic of South Africa, New Zealand, Cayman Islands, Barbados, Switzerland, the State of Kuwait or Singapore in or into any other jurisdiction where offers or sales would be prohibited by applicable law. This announcement
Kromek receives Innovate UK funding to advance Biological-Threat Detection solution Funding received for customisation of system for automated detection of airborne SARS-CoV-2 and identification of novel and mutating viruses
Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, announces that it has commenced a £1.25m programme funded by Innovate UK to customise its biological threat-detection solution for the automated detection of all airborne viruses, including COVID-19, to support end-use cases.
The Group s solution is designed to be deployed in high footfall locations, such as airports, hospitals, retail outlets and entertainment venues. The base technology, which is fully developed, samples the air in-situ to detect and analyse airborne pathogens using DNA sequencing. In response to the pandemic, the initial focus is on productising the technology to develop a system that will rap
· Gross margin was 54% (H1 2019/20: 58%; FY 2019/20: 47%) · Adjusted EBITDA was £0.9m loss (H1 2019/20: £0.6m loss) · Loss before tax was £3.4m (H1 2019/20: £2.7m loss) · Cash and cash equivalents at 31 October 2020 were £5.8m (30 April 2020: £9.4m; 31 October 2019: £13.4m) Adjusted EBITDA is defined as earnings before interest, taxation, depreciation, amortisation, other income and share-based payments. For further details, see the Financial Review below. Operational Summary · Resumption of orders and shipments across all segments in final two months of the period with business patterns starting to return to normal and increased commercial activity post period · Continuing commercial traction and development of D3S family of products, which has been sold in over 25 countries
Kromek Group appoint Mr Berry Beumer as Chief Operating Officer 7:11 am
Kromek Group plc (LON:KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, has announced the appointment of Mr Berry Beumer, Chief Operating Officer, as an Executive Director of the Group with immediate effect. Furthermore, Mr Rakesh Sharma OBE, who joined the Group as a Non-executive Director in October 2020, will replace Sir Peter Williams CBE as Non-executive Chairman, who is retiring from the Board on 1 January 2021.
Mr Albertus Beumer, aged 56, is a technology business executive with extensive experience of delivering revenue growth in the analytical instrument, high-frequency communications equipment and optoelectronic and semiconductor materials industries. Since joining the company as COO in 2015, based in the Group’s Pennsylvania facility, he has played an instrumental role in the growth of the business through the expa