Shares of Kromek have risen Tuesday morning after the company announced that it has been awarded a 7-year supply agreement by a US-based industrial OEM with a “global customer base.”
The agreement is for Kromek’s first-generation contaminant detection solution, which has a value of up to $17 million over the contract’s life and is anticipated to begin in the current financial year.
Following the successful progression of a two-year development program, Kromek was awarded the contract. During the program, Kromek provided a CZT based detector solution for incorporation into the OEM’s systems to identify contaminants during product quality inspection.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Dr Arnab Basu, CEO of Kromek, said: “Our customer is dedicated to introducing best-of-breed solutions in their next-generation products to ensure we can live healthier and safer lives. We anticipate developing further products for this customer to support their ambitions.”
Kromek’s AIM-quoted shares rallied to a high of 16.5p following the news. However, it has since lost momentum and is trading at 15.3p, up 0.72% from Monday’s close.
Should you invest in Kromek shares?
Kromek shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Kromek shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
