REG - 1Spatial Plc - UK Power Networks selects 1Streetworks software

1SpatialAnnouncement

22/02/2024 07:00

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RNS Number : 0107E  1Spatial Plc  22 February 2024

22 February 2024

 

1Spatial plc

("1Spatial", the "Group" or the "Company")

 

UK Power Networks selects 1Streetworks software to revolutionise streetworks
planning

12-month contract signed for pioneering SaaS product

Growing pipeline of 1Streetworks opportunities

Addressable market for 1Streetworks in the UK of £400m for low-speed roads
alone

 

1Spatial, a global leader in Location Master Data Management ("LMDM") software
and solutions, is delighted to announce that, following conclusion of a
successful trial, it has signed a 12-month contract with UK Power Networks,
for its Traffic Management Plan Automation ("TMPA") solution, under the
1Streetworks brand in the UK ("1Streetworks"). The contract will deliver a
minimum of £0.34m of SaaS revenue.

 

The 1Streetworks' cloud-based SaaS solution is the first solution in the
market to fully automate the production of traffic management plans, diversion
routing and asset inventory lists and has the potential to fundamentally
change the industry.

 

There are over 2.5 million low-speed road works undertaken in the UK per year.
This is estimated to grow to four million in coming years leading to a total
annual addressable market opportunity in the UK of approximately £400
million.

 

UK Power Networks

 

UK Power Networks has 190,000km of cables and delivers thousands of
streetworks every year across London, the South-East and East of England, to
maintain safe and reliable power supplies to 19 million people.

 

UK Power Networks successfully used 1Streetworks software in a Surrey trial to
quote for and connect small power connections for customers. It reduced the
time surveyors spent on labour-intensive streetworks design plans from hours
to just minutes, while continuing to meet the high levels of safety and
accuracy required under the regulations.

 

The average time taken to connect new or altered power connections was reduced
by a quarter across approximately 300 roadworks sites where 1Streetworks was
used.

 

Paul Dooley, streetworks performance manager at UK Power Networks, said:
"Planning streetworks to the high standards we expect takes time and few have
tried to revolutionise the process during my 23 years in the sector. So, I'm
excited about the potential of 1Streetworks to streamline complex traffic
management plans, enable better communication with customers and highway
authorities and improve the speed and accuracy of streetworks plans".

 

Growing 1Streetworks pipeline

 

The growth of 1Streetworks is expected to positively impact 1Spatial's
financial profile, with each contract likely to command SaaS margins and be
recurring in nature. Investment in the cloud-based solution has ensured it is
highly scalable, allowing 1Spatial to take advantage of the significant UK
opportunity. The Company has a further four paid trials currently in place,
together with several additional paid trials due to commence in the first half
of 2024 across utilities, highway authorities and traffic management
organisations.

 

Claire Milverton, CEO of 1Spatial, added: "We are delighted that our
innovative 1Streetworks application has delivered such fantastic results for
UK Power Networks and its customers. We look forward to working with Paul and
the team to roll out the software further across the network over the coming
months. This has been a key milestone for the company and a culmination of
many years of work and investment. The commercial validation brought by this
contract is crucial in driving adoption across the wider industry.

 

"We are encouraged by current discussions with other major operators across
multiple industries, who have the same challenges in producing traffic
management plans.

 

"With our new SaaS offerings, 1Streetworks in the UK and NG911 in the US,
opening up considerable additional growth markets opportunities alongside our
Enterprise offerings, we believe the opportunity for 1Spatial has never been
greater."

 

Notice of 1Streetworks investor webinar

 

1Spatial will be hosting a virtual insight session and Q&A for investors
and sell-side analysts at 3pm on Wednesday, 12 March 2024. The event will
cover the 1Streetworks solution, how it can revolutionise complex street works
planning, and the significant addressable market opportunity.

 

If you wish to attend, please register by emailing 1spatial@almastrategic.com.

 

For those unable to attend on the day, a recording of the webinar will be made
available on 1Spatial's website shortly after the event at
https://1spatial.com/investors/reports-and-presentations/
(https://1spatial.com/investors/reports-and-presentations) .

 

The Company intends to host a capital markets event in May 2024 focusing on
the Group's overarching strategy, its Enterprise business and two SaaS
offerings: NG911 and 1Streetworks.

 

For further information, please contact:

 

 1Spatial plc                                       01223 420 414
 Claire Milverton / Stuart Ritchie
 Liberum (Nomad and Broker)                         020 3100 2000
 Max Jones / Edward Mansfield / Anake Singh
 Alma Strategic Communications                      020 3405 0205
 Caroline Forde / Hannah Campbell / Kinvara Verdon  1spatial@almastrategic.com

 

About 1Spatial plc

 

1Spatial plc is a global leader in providing Location Master Data Management
(LMDM) software and solutions, primarily to the Government, Utilities and
Transport sectors. Our global clients include national mapping and land
management agencies, utility companies, transportation organisations,
government and defence departments.

 

Today - as location data from smartphones, the Internet of Things and great
lakes of commercial Big Data increasingly drive commercial decision-making -
our technology drives efficiency and provides organisations with confidence in
the data they use.

 

We unlock the value of location data by bringing together our people,
innovative solutions, industry knowledge and our extensive customer base.  We
are striving to make the world more sustainable, safer and smarter for the
future. We believe the answers to achieving these goals are held in data. Our
1Spatial Location Master Data Management (LMDM) platform incorporating our
1Integrate rules engine delivers powerful data solutions and focused business
applications on-premise, on-mobile and in the cloud. This ensures data is
current, complete, and consistent through the use of automated processes and
always based on the highest quality information available.

 

1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in
the UK, Ireland, USA, France, Belgium, Tunisia and Australia.

 

For more information visit www.1spatial.com

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