REG - Cordel Group PLC - Cordel awarded Angel Trains contract

CordelAnnouncement

09/08/2022 07:00

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RNS Number : 3286V  Cordel Group PLC  09 August 2022

9 August 2022

Cordel Group PLC

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

 

Cordel awarded Angel Trains contract

 

Five-year framework agreement to allow real-time track monitoring, enabling
more efficient management of the UK mainline railways

 

Cordel Group PLC (AIM: CRDL), the artificial intelligence platform for
transport corridor analytics, announces it has been awarded a 5-year contract
with Angel Trains to install fully-automated hardware onto in-service
passenger trains, delivering AI-powered insights for Intelligent
Infrastructure.

 

Cordel's LiDAR and imagery capture technology will be installed on passenger
trains operated by Great Western Railways. Cordel's automated processing will
deliver prompt monitoring of Network Rail infrastructure, minimising the need
to run special measurement trains.

 

Cordel technology will provide Network Rail with AI-powered inspection
automation on a high-frequency basis, delivering a 'Digital Twin' of
survey-grade LiDAR with co-located high-resolution video, aligned to the
network's linear reference system. Cordel's Machine Learning solutions will
include Vegetation Management, Ballast Profiling, Track Clearance, Overhead
Line Equipment Height & Stagger Assessments, Switch & Crossing Advance
location, Signal sighting measurements and Materials estimation.

 

Angel Trains is a leading UK rolling stock leasing company which owns more
than 4000 vehicles, equating to one-third of the UK's passenger train market.
This includes the Class 165 fleet, where, later this year, trains will begin
operating with Cordel LiDAR and imagery.

 

The Class 165 12-month pilot deployment is the first project of the framework
agreement and is supported by Network Rail as part of the Mobile
Infrastructure Monitoring Strategy. In what is believed to be a UK-first,
Cordel will deploy the latest generation of Cordel Wave sensors in permanent
installations on passenger trains. By installing sensors on existing rolling
stock paired with Cordel's advanced AI-powered software, the pilot's success
will enable the future roll-out of the automated inspection of all Network
Rail infrastructure.

 

This passenger train installation further expands Cordel's relationship with
Network Rail in the UK. In Summer 2021, Cordel's technology was approved by
Network Rail for use in gauging clearance across the UK rail network; in
Autumn 2021, Cordel was awarded a contract for the UK's National Gauging
Database; and in Spring 2022, Cordel's contract with Network Rail High Speed
(first awarded in August 2021) was extended in duration and scope.

 

Nick Smith, CEO, Cordel, said: "This is a major initiative for Cordel, Angel
Trains, and the UK rail network. By capturing data in real-time from
in-service passenger trains, we can provide Network Rail with a far more
detailed picture of the state of rail infrastructure, moving from time-based
maintenance to condition-based maintenance. As well as being more efficient in
terms of resources, by focusing maintenance on key issues more promptly, we
can help Network Rail provide a more resilient railway."

 

Malcolm Brown, CEO of Angel Trains, said: "At Angel Trains, we invest in new
technologies that will enhance the UK's railway systems. We are excited to
work with Cordel, alongside Network Rail and Great Western Railways, to enable
a more efficient management of our railways, and improve passenger experience
across the country."

 

Ian Buddery, Chairman, Cordel, said: "The Board is delighted by another major
contract win in the UK in line with our growth strategy. This is yet more
validation of the quality of our technology, and people.  At Cordel, we are
leading the world in automated rail corridor inspection and believe this is
the future of the global rail asset management market."

 

Enquiries:

 

 Cordel Group PLC                           c/o SEC Newgate
 Ian Buddery, Chairman

 Nick Smith, CEO

 Strand Hanson Limited (Nominated Adviser)  +44 (0)20 409 3494

 Richard Johnson / James Bellman

 Arden Partners (Broker)                    +44 (0)20 7614 5900
 Ruari McGirr / Alexandra Cambell-Harris

 SEC Newgate (Financial PR)                 +44(0) 7540 106366
 Robin Tozer / George Esmond

 

 

Notes to editors:

 

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
(about%3Ablank)

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014, which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

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