Nanalysis wins $160M multi-year contract
by CM Staff
Nanalysis says it expects Airports, border crossings, prisons, and other security markets will also present important growth drivers for the company over the next five years.
CALGARY — Nanalysis Scientific Corp.’s wholly-owned subsidiary K’ Technologies has won a six year $160 million service and maintenance contract with Canadian Air Transportation Security Authority.
The agreement includes a gradual phase in period of approximately one year. The effective date of the executed contract is May 25, 2022 and it expires on May 31, 2028.
“We are pleased to have won this contract to support imaging and other security screening equipment at all airports across Canada,” said Sean Krakiwsky, founder and CEO of Nanalysis in a statement.
“The security market is a very important vertical for all our products, including benchtop NMR, and it is our vision to have direct sales and service capabilities in every major market in the world. This contract win is an instrumental step in simultaneously opening up the security vertical as well as adding a material recurring revenue stream to our business.”
KPrime has begun the phase in process for this project to airports across Canada, and the company anticipates the service coverage to be completed before the end of Q1, 2023.
Nanalysis says it expects Airports, border crossings, prisons, and other security markets will also present important growth drivers for the company over the next five years.
The company aims to build a fully vertically integrated global scientific instrumentation company, serving customers in the security, pharma, biotech, food, energy, advanced materials, petrochemical, healthcare, and education markets with imaging and detection products and service. The company also says it will continue to expand direct sales, service, and channel management capabilities worldwide and will work to strengthen technology partnerships and develop supply chain risk-mitigation.
