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Kromek Shares Rallied 10.7% After Installing a Machine That Detects COVID-19 Particles

Updated: 24 Jun 2021

Shares of Kromek Group PLC (LON: KMK) rallied 10.7% after announcing that it had installed a machine that can detect COVID-19 particles in the air at Teesside Airport to test its effectiveness before a broader rollout to other venues.

The device is the size of an office printer and works by taking in air and converting it into liquid form where it can be easily analysed to detect viruses and other airborne pathogens.

Kromek claims that the machine can detect low levels of COVID-19 without having to send samples to a lab. The machine works automatically and does not require scientists presence or any special skills to be operated.

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The device builds on Kromek’s expertise in analysing airborne pathogens. The company recently got a contract extension to build the second phase of its bio-threat detection systems from the US Defense Advanced Research Projects Agency (DARPA).

The contract extension worth $6 million came after Kromek completed the first phase, which included creating a vehicle-mounted biological-threat identifier and a miniaturised mobile wide-area bio-surveillance system.

Kromek has installed one machine at Teesside International Airport and another one at a primary school in the Northeast of England.

Arnab Basu, Kromek’s CEO, said: “Our system can augment the government's Test and Trace system by enabling early identification of potential exposure to the virus while supporting the safe return of visitors to public spaces like mass transport, retail outlets and entertainment venues,”

Kromek share price.

IG chart of Kromek share price 24-06-2021

Kromek shares surged 10.74% to trade at 15.78p, rising from Wednesday’s closing price of 14.25p.

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