£15m stock flotation for technology firm Kromek
5.0/5 rating (2 votes)

Friday, 20 September 2013

Growing technology company, Kromek, which develops high performance material and products for radiation detection, is aiming to raise £15m in a placing of ordinary shares.

The firm, based at NETPark - the North East Technology Park, near Sedgefield, County Durham, plans to join the Alternative Investment Market (AIM) on the London Stock Exchange as it targets growth opportunities in the medical imaging, security screening and nuclear detection sectors.

Kromek, formerly known as Durham Scientific Crystals, started as a two-man spin-out from Durham University in 2003 and is now a world leader in colour imaging for x-rays, facilitating advances in areas like cancer detection, airport security, industrial inspection and space exploration.

It employs around 100 people, half in County Durham and the rest in offices in Pennsylvania and California.

The company has also recently added a small sales office in Germany.

Chief executive Arnab Basu said: “The business is established in its markets and its hybrid business model is proven.

“We have contracts in place with some of the leading OEMs in each of our chosen fields, including a development contract recently signed with a top four global OEM in the medical imaging market.

“Kromek is a well-established British technology business with a US presence and the opportunity to grow rapidly.

“To that end, admitting to AIM is an attractive option, providing the company with both access to capital and tradable equity should acquisition opportunities arise in the future.

“I now look forward to working with my colleagues and our shareholders to realise the company’s commercial potential.”

blog comments powered by Disqus


  • janet_todd_netpark

    Janet Todd

    NETPark Manager

    +44(0)1740 625 250
    This email address is being protected from spambots. You need JavaScript enabled to view it.

Did You Know?

  • Catapulting technologies to market +

    NETPark is the only science park in the UK with two Catapults: High Value Manufacturing and Satellite Applications
  • Reinnervate in space... +

    Reinnervate’s cell scaffold technology was carried to the International Space Station in April 2015 for bone density experiments
  • The Number 55 +

    NETPark is number 55 on the list of 100 reasons why it’s great up north
  • Kromek, a home-grown plc +

    Kromek, a company at NETPark, started with 2 employees, now employs 60, is a plc and is building the largest radiation sensor network in the United States
  • PolyPhotonix and the Sleep Mask +

    PolyPhotonix has developed a Sleep Mask to treat diabetic retinopathy which will save the NHS £1BN a year
  • The North East workforce +

    Companies developing products from physics-based science employ over 43,000 people in the North East
  • Starring in Stargazing Live +

    Durham University's Centre for Advanced Instrumentation at NETPark built instruments for the South African Large Telescope and the James Webb Space Telescope, both of which "starred" in BBC's Stargazing Live
  • 1

Keep In Touch

NETPark associations