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REG - Cordel Group PLC - Cordel Expands and Extends Contract with ARTC

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RNS Number : 3081K  Cordel Group PLC  31 October 2024

31 October 2024

Cordel Group PLC

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

 

Cordel Expands and Extends Contract with ARTC

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, is pleased to announce an extension to our
existing contract with the Australian Rail Track Corporation ("ARTC"), taking
the term of the engagement to 31 August 2025.

2024 marks the 5th year of successful partnership between ARTC and
Cordel. This collaboration, which began in 2019, represents Cordel's first
large-scale commercial deployment of our unattended infrastructure monitoring
solution, setting a new standard in rail technology implementation.  The new
extension also includes network wide Light Direction and Ranging (LiDAR),
Video and Clearance Assessments.

 

Over the past five years, our partnership with ARTC has achieved:

·   More than 250,000 kilometres of track scanned and analysed

·   Automated processing across ARTC's extensive 8,500 km network

·   Streamlined infringement and track clearance surveys

·   Significantly enhanced safety by reducing the need for manual
inspections

 

At the heart of this is Cordel's Wave LiDAR system, which was permanently
installed on ARTC's diagnostic rail car.

 

Our collaboration has transformed ARTC's approach to rail inspections, leading
to:

1.   Increased efficiency in infrastructure monitoring

2.   Enhanced safety for rail workers and passengers

3.   More accurate and timely data for decision-making

4.   Reduced operational costs through automation

This partnership demonstrates the long-term value of Cordel's solutions and our commitment to driving innovation in the rail industry.

 

Cordel CEO John Davis said:

"We're immensely proud of what we've achieved with ARTC over the past five
years. This partnership has validated our technology and pushed us to innovate
and improve continually. We're excited to continue this journey, driving
efficiency and safety in rail operations in Australia and globally."

 

 

Enquiries:

 

 Cordel Group PLC                            c/o Cavendish
 Ian Buddery, Chairman

 John Davis, Chief Executive Officer

 Cavendish Capital Markets Limited, Broker   +44 (0)20 7220 0500
 Marc Milmo / Rory Sale (Corporate Finance)

 Sunila de Silva (Corporate Broking)

 Strand Hanson Limited, Nominated Adviser

 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
(http://www.cordel.ai/)

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