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Serstech receives first major order from the US market

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Serstech today received an order of 7.8 MSEK from its US partner Field Forensics. The order consists of both hardware and software products and will be delivered and invoiced in Q2.

Serstech had anticipated the forceful return of the market after the two-year pandemic lockdown and had therefore built inventory of products over the last six months. The 7.8 MSEK order will therefore be delivered immediately, despite the severe component shortage the industry is suffering from.

Less than 18 months ago, Serstech increased its focus on the US market, adding local staff working with partners and potential end-customers. With a significant reference customer now in place, the first and most important stage in the US strategy has been completed.

“Field Forensics has more than 20 years of experience in this field and has been one of our top-tier partners since 2018. Field Forensics has excellent technical skills combined with deep contacts throughout the industry”, says Serstech CEO Stefan Sandor.

“It’s a pleasure working with a company like Serstech.  Serstech’s products are world class and the team at Serstech offer excellent support - always putting in the extra effort our military, law enforcement and homeland security customers appreciate”, says FFI CEO Craig Johnson.

For further information, please contact:

Stefan Sandor,
CEO, Serstech AB Phone: +46 739 606 067
Email: ss@serstech.com

or

Thomas Pileby,
Chairman of the Board, Serstech AB Phone: +46 702 072 643
Email: tp@serstech.com
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 08:45 CET on May 9, 2022.

Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG), phone: +46 11 323 07 32, e-mail: ca@skmg.se.

About Serstech

Serstech delivers solutions for chemical identification and has customers around 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’s head office is in Sweden and all production is done in Sweden.

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

About Field Forensics

Field Forensics, Inc. (FFI) is a State of Florida corporation headquartered in Saint Petersburg, Florida.  FFI develops threat-chemical detection and identification kits, instruments and methods, specializing in field detection of narcotics, explosives, heroin, fentanyl, chemical weapons agents, home-made explosive and narcotics  precursor chemicals.  FFI proudly support hundreds of elite military, law enforcement, and security organizations around the world.  FFI Tactical, a division of FFI, offers specialized equipment for bomb squads and military EOD teams.

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