Partner Article

New jobs follow Kromek’s cash injection

Anti-terrorism technology firm Kromek plans to grow its 50-strong workforce and expand its North East headquarters after winning £12.3m in new investment.

The County Durham company has raised its latest round of funding from a predominantly private investor base as well as corporate and institutional sources.

It will use the investment to scale up its operations ahead of the introduction of new European laws governing security in airports.

The firm has developed products for the global aviation and border security markets to combat threats posed by liquid based explosives and smuggling of narcotics dissolved in alcohol.

The company’s bottle scanning product has been well received by the commercial market and could take off internationally on the back of new EU legislation.

From next year, the liquid ban imposed on air passengers will be lifted in airports that have put the right scanning technology in place.

In 2013 the ban will be completely lifted and replaced by appropriate screening facilities.

CEO Arnab Basu said: “This funding will take us to the next phase of our development and will inevitably create more jobs and expand our business upwards.

“It will help create new commercial and manufacturing jobs. We will be much better able to deliver and capitalise on the new upcoming regulation in the EU.”

Late last year the Durham University spin-out won a US$4m contract with the US Department of Defense to supply its equipment that can detect emissions from nuclear materials.

Kromek was founded in 2003 and was formerly known as Durham Scientific Crystals,

This was posted in Bdaily's Members' News section by Ruth Mitchell .