Major milestone for Amphion Partner Company, Kromek
London and New York, 25 October 2010 - Amphion Innovations plc (LSE: AMP) ("Amphion" or the "Company"), the developer of medical and technology businesses, today announces that its Partner Company, Kromek, which specialises in the development of disruptive technology solutions for a range of commercial markets including airport and border security, has received official European Union (EU) certification to provide colour x-ray liquid detection systems to all European airports.
By April 2011, liquid items bought in transit (i.e. duty free purchases) will be allowed on board, providing the appropriate security measures, such as screening, are in place at the airports concerned. The results of the European Civil Aviation Conference (ECAC) led trials establish that the technology is ready to allow the 2011 deadline to be met by the airports. By April 2013, the ban will be lifted completely, allowing the carriage of liquids on flights across Europe.
Kromek's Bottle Scanner has qualified as a Category B device that has achieved Type 1 and Type 2 100% capability and has been officially tested, verified and authorised by ECAC. As of now, all EU airports are free to buy and implement Kromek's Bottle Scanner product, opening the company to the multi million dollar airport security market.
The move marks a breakthrough in airport security. As the threat from liquid threat has become greater, airport security officials are seeking appropriate technology to mitigate this threat. For the first time, airports can purchase tested, approved, and secure technology that will allow authorities to relax the ban on liquid on flights.
Dr. Arnab Basu, CEO of Kromek, said, "It's a significant milestone for Kromek as the approved listing is vindication that colour x-ray detection has been proven. The next generation of X-ray technology has arrived, with a market ready machine that can detect liquid threat.
"The threat from Liquid, Aerosol and Gel (LAG) based explosives became apparent in August 2006 following discovery of a plot to use such devices aboard multiple transatlantic flights. Although Kromek had not set out to produce such equipment we were quick to realise with our capabilities we had the versatility to produce a solution for this market need.
Kromek's verified and approved solution effectively guards against such a possibility. It is a major step forward in the fight against global terrorism where liquid is increasingly becoming a common tool for terrorist use."
Kromek's revolutionary technology signals a new era in colour x-ray detection, and a market-changing development in aviation security. The company is introducing to the sector a pioneering form of detection, which has been likened to the advent of colour TV, from black and white, in terms of significance and market potential.
Richard Morgan, CEO of Amphion and Chairman of Kromek, said, "This approval by the ECAC is a major milestone for Kromek. Kromek's proven technology meets a previously unmet need in airport security. Kromek's Bottle Scanner should make a major contribution to a more efficient security system within the European markets."
Dr. Basu concluded, "The next year and beyond is extremely exciting for us. Kromek will continue to see strong growth over the coming years as our innovative solutions to many previously intractable problems captures the imagination. Our groundbreaking technology not only provides products to the airline security market but has the opportunity for development into a range of products for many highly lucrative markets such as medical and industrial fields."
For further information please contact
Amphion Innovations plc
+1 (212) 210 6224
Tim Robertson/ James Milton
+44 20 7930 0777
Charles Stanley (Nominated Adviser)
+44 20 7149 6000
About Amphion Innovations plc
Amphion (LSE: AMP) builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK. Amphion has significant shareholding in 10 Partner Companies developing proven technologies targeting substantial commercial marketplaces, each in excess of $1 billion. Each Partner Company is chosen with the goal of achieving an exit valuation in excess of $100 million.
On the web: www.amphionplc.com :
Kromek was spun out of Durham University's physics department and specialises in the development of disruptive technology solutions for a broad range of commercial markets. It is currently pioneering digital colour imaging for x-rays and advanced 3D imaging for the medical, security, industrial inspection and defence markets. The company has successfully pioneered a revolutionary 3D x-ray technology, which has huge commercial benefits for a range of sectors, especially the airline security industry, where it is uniquely placed to fulfil an increasing, necessary worldwide demand for liquid explosive detection at airports.
On the web: www.kromek.com:
Kromek Scanner II:
Kromek Scanner I:
Press release (PDF):
Kromek CEO Arnab Basu:
Kromek Scanner III:
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Source: Amphion Innovations plc via Thomson Reuters ONE