  We present the technical specifications and first results of the ESA-funded,
lunar monitoring project "NELIOTA" (NEO Lunar Impacts and Optical TrAnsients)
at the National Observatory of Athens, which aims to determine the
size-frequency distribution of small Near-Earth Objects (NEOs) via detection of
impact flashes on the surface of the Moon. For the purposes of this project a
twin camera instrument was specially designed and installed at the 1.2 m
Kryoneri telescope utilizing the fast-frame capabilities of scientific
Complementary Metal-Oxide Semiconductor detectors (sCMOS). The system provides
a wide field-of-view (17.0' $\times$ 14.4') and simultaneous observations in
two photometric bands (R and I), reaching limiting magnitudes of 18.7 mag in 10
sec in both bands at a 2.5 signal-to-noise level. This makes it a unique
instrument that can be used for the detection of NEO impacts on the Moon, as
well as for any astronomy projects that demand high-cadence multicolor
observations. The wide field-of-view ensures that a large portion of the Moon
is observed, while the simultaneous, high-cadence, monitoring in two
photometric bands makes possible, for the first time, the determination of the
temperatures of the impacts on the Moon's surface and the validation of the
impact flashes from a single site. Considering the varying background level on
the Moon's surface we demonstrate that the NELIOTA system can detect NEO impact
flashes at a 2.5 signal-to-noise level of ~12.4 mag in the I-band and R-band
for observations made at low lunar phases ~0.1. We report 31 NEO impact flashes
detected during the first year of the NELIOTA campaign. The faintest flash was
at 11.24 mag in the R-band (about two magnitudes fainter than ever observed
before) at lunar phase 0.32. Our observations suggest a detection rate of $1.96
\times 10^{-7}$ events $km^{-2} h^{-1}$.
