A TECH firm helping thwart terror attacks is embarking on the next phase of its evolution after converting contract talks into deals worth more than £30m, its boss has told The Northern Echo.

Dr Arnab Basu says Kromek is ready to start another chapter in its relatively short history after an £810,000 contract renewal augmented existing lucrative agreements.

Dr Basu also confirmed the company, based at NetPark, in Sedgefield, County Durham, was continuing negotiations with interested parties to obtain further contracts.

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The business is known for its anti-extremist technology and last month revealed a £2.5m deal to supply parts for security systems designed to detect homemade bombs, having already sent thousands of radiation detectors to an agency of the US Department of Defense to help identify threats including ‘dirty bombs’.

However, Dr Basu, who yesterday revealed a fresh ten-year exclusivity deal to send upgraded versions of detectors to a US customer, said Kromek was laying the groundwork for further expansion, confirming it has translated a contract pipeline worth nearly £33m into tangible agreements over the last 20 months.

He also said the plans were reflective of Kromek, which began as a research-focused spin out from Durham University’s physics department in the early 2000s, becoming an increasingly dominant force in the technology sector, with firms now willing to enter into long-term relationships.

He told the Echo: “Our pipeline is getting better and stronger.

“A pipeline is one thing, but the conversion into contracts is another thing and that has now started to happen.

“It is a trend I hope will continue. Businesses like us want our customers to stay with us for a long time and commit to us for a long time.

“We are building up a very good list of customers who are willing to commit their medium and long-term futures with us.

“Our pipeline is extremely strong and we are working hard to bring more customers to it; we expect to see more good news coming out.

“A lot of the things we have worked on are starting to become real and are being used in applications.”

Kromek’s £810,000 contract, which Dr Basu said is bound by strict confidentiality clauses, comes just weeks after the firm revealed a £21m stock market drive.

At the time, Dr Basu told the Echo it would provide the “rocket fuel” to power fresh growth and ease some customer concerns over its balance sheet.

The shares placing and offer also provides hope the company can record its first profit, with earnings before interest, tax, depreciation and amortisation (EBITDA) expected to break even in the coming months.

Dr Basu added: “To have a strong balance sheet gives a signal of strength and shows we are here to stay.

“It is rocket fuel for the growth phase; we are busy boys and intend to stay extremely busy.”

As well as its radiation detectors, Kromek is also known for airport bottle scanners, which scour luggage for explosives, and medical equipment capable of helping treat brittle bones.