Serstech has received an order worth 170 KEUR (1.7 MSEK) from Romania and Bulgaria. This is the first major order to European authorities, end customers being the General Inspectorate of Romanian Police and the Bulgarian Ministry of the Interior. The order includes the Serstech 100 Indicator and the Chemical Warfare Agents Database.
Serstech has developed the Chemical Warfare Agents Database in collaboration with European partners and since November 2017 has held a license from ISP, the Inspectorate of Strategic Products, to develop and export the database. The license is required because the database is classified as military equipment, since it contains information that can be used in conjunction with Serstech's indicator to identify chemical weapons.
"The Romanian order is significant for several reasons - first of all, it is our largest order so far to European authorities and, secondly, it is our first order for our narrowest niche product - the chemical warfare database. We have seen increasing interest in the database, and the fact that we have received a relatively large order so soon after its launch bodes well for the future," says Stefan Sandor, CEO of Serstech.
The delivery is planned to take place in May 2018.
If you have any further questions, please contact Serstech CEO Stefan Sandor at +46 739 60 60 67.
This is information that Serstech AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:40 CET on March 1 2018.
About Serstech AB
Serstech raises awareness of chemicals by combining measurements from a hand-held Raman spectrometer, Serstech 100 Indicator, with a secure system solution, ChemDash. The user-friendly solution identifies, manages and analyses chemicals which could affect public safety, such as explosives, narcotics and hazardous materials. Serstech has a global distribution network and main office is in Lund, Sweden and all development and manufacturing are done in Sweden. Serstech is listed on Nasdaq First North and the company's certified adviser is Västra Hamnen Corporate Finance AB. Read more: www.serstech.com.