SERSTECH AB

Serstech receives EU funding for CBRN project

A consortium of public and private organizations, of which Serstech is part, has been granted funding from the European Commission. The project aims to develop technologies, based on Raman and SERS (Surface Enhanced Raman Spectroscopy), to detect and identify chemical warfare agents and toxic industrial compounds in liquid and gas form. Serstech will supply modified Raman devices as part of the project.

In August, Serstech will receive the initial payment of approximately 2 MSEK and will receive another 2 MSEK over the project period, which extends over three and a half years. The consortium includes several European universities and the Swedish Defence Research Agency (FOI).

The project aims to provide a solution for first responders and CBRN (Chemical, Biological, Radiological, Nuclear) specialists to detect hazards in their everyday work. The solution will use Raman technology from Serstech and include both mobile and fixed detection capabilities. Important success factors in the project are several of Serstech’s existing strengths – time to identify a threat, ease of use, comprehensive libraries and low weight.

The project will further strengthen Serstech’s position in the CBRN market and its technical capabilities in this important area of chemical detection.

For further information, please contact:

Stefan Sandor,
CEO, Serstech AB
Phone: [phone]
Email: [e-mail]

Thomas Pileby,
Chairman of the Board, Serstech AB
Phone: [phone]
Email: [e-mail]

or visit: www.serstech.com

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 12:00 CET on Aug 14, 2020.

Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG), phone: [phone], e-mail: [e-mail].

About Serstech

Serstech delivers solutions for chemical identification and has customers across the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution.

Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com