REG - Cordel Group PLC - Angel Trains Update

CordelAnnouncement

23/03/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230323:nRSW9242Ta&default-theme=true

RNS Number : 9242T  Cordel Group PLC  23 March 2023

23 March 2023

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

 

Angel Trains Update

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, announces achievement of a key contract
milestone with Angel Trains Limited ("Angel Trains").

 

The first deliverable, a Digital Twin of the complete Paddington to Didcot
route has been completed and demonstrated to Network Rail staff. The Digital
Twin is survey-grade LiDAR with co-located high-resolution video, aligned to
Network Rail's linear reference system.

 

Rebeka Sellick, Business Development Director, UK & Europe, Cordel, said:
"Our contract with Angel Trains for Network Rail in the UK has enabled us to
realise our vision to install our LiDAR, imagery and locations hardware onto
in-service passenger trains. Building on last year's success, we installed a
third complete Cordel Wave32 set on to an additional Class 165 train at Great
Western Railway's Reading servicing and maintenance depot in February this
year, proving that our modular retrofit can easily be rolled out to
successive passenger trains.

Key to Cordel's approach is that the hardware is not an end in itself, but
feeds our data pipeline, so we can enrich the machine learning of our AI
algorithms to deliver outputs for Network Rail's engineers.  With the
no-touch data capture now delivering up to 110GB per sensor set per day
(depending on the train's timetable), we are tailoring our AI to deliver
further insights for Network Rail, who's engineers have access to the Cordel
Viewer to explore this rich dataset of LiDAR and imagery, and understand the
benefits it offers them.

With the Digital Twin successfully delivered, the Cordel development team has
moved on to focus on the Gauging and Clearance Use Cases."

 

Malcolm Brown, CEO Angel Trains, said: "The Angel Trains class 165s were the
first passenger trains to be installed with Cordel's innovative AI monitoring
technology. The data that is captured provides more efficient and
cost-effective management of the rail network leading toa better, more
reliable passenger experience.  We are proud to continue our investment in
new technology that enhances the UK's railway system."

 

Ian Buddery, Chairman, Cordel, said: "Our team is delivering this
ground-breaking technology on time and on budget for Angel Trains, as we
continue to prove the significant benefits of automated data capture and
analysis, reducing cost and improving safety and reliability for the world's
leading railways."

 

Enquiries:

 Cordel Group PLC                           c/o Zeus Capital
 Ian Buddery, Chairman

 John Davis, Interim CEO
 Zeus Capital Limited Broker                +44 (0)20 3829 5000
 Simon Johnson / Alexandra Campbell-Harris

 Strand Hanson Limited Nominated Advisor

 Richard Johnson / James Bellman            +44 (0)20 7409 3494

 

 

About Cordel

Cordel produces specialist hardware and software for capturing, analysing and
reporting on large datasets within the transport sector, employing
sophisticated artificial intelligence algorithms.  Further information on the
Company is available at: www.cordel.ai

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDDLLFLXXLEBBL