REG - Cordel Group PLC - Cordel Wins Contract with Network Rail High Speed

CordelAnnouncement

24/10/2023 07:00

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RNS Number : 0298R  Cordel Group PLC  24 October 2023

24 October 2023

Cordel Group PLC

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

 

Cordel Wins New Contract with Network Rail High Speed

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, announces it has been awarded a contract for
data capture and analysis with Network Rail (High Speed) Ltd, which maintains
the railway infrastructure for High Speed One (HS1).

 

HS1 is the high-speed rail line between St Pancras International in London and
the Channel Tunnel, supporting domestic routes throughout Kent, and
international routes to Paris, Lille, Brussels, and Amsterdam.

 

Cordel (previously Maestrano) was originally awarded a Proof of Concept
contract (announced 5 August 2021) with Network Rail High Speed for HS1.

 

This new Data-as-a-Service contract will capture monthly data runs across the
HS1 line from St Pancras International to the Channel Tunnel, creating a
digital twin with automated surveys measuring the Overhead Line Height and
Stagger and other critical dimensions.

 

Data will be captured autonomously from equipment permanently installed on
trains undertaking other duties, utilising the Cordel Wave 32 LiDAR and camera
hardware recently certified by Network Rail (announced 12 June 2023). Cordel's
Artificial Intelligence platform will automatically process the data made
available via our cloud-based Inspection Management software.

 

Rebeka Sellick, Business Development Director of Cordel, said:

"In the Proof of Concept, Cordel demonstrated that our technology produces
genuinely useful, accurate outputs for high-speed railway engineers. This roll
out of Cordel's automated data capture and inspection management service
should enable a step change in the rapid and efficient collection of data.
Cordel's AI will develop this data promptly into insights to support
engineering delivery of the entire route. We are confident that we can
facilitate safe and cost-effective maintenance and renewals of the railway
infrastructure."

John Davis, CEO of Cordel, commented:

"We are delighted to continue to expand our important work with Network Rail
(High Speed), whereby our world-leading technology delivers vital insights to
meet their very high engineering standards.  Cordel has now captured and
processed data across nearly 500,000 miles of international railway lines,
resulting in an unmatched depth of AI learning and data management
experience."

 

Enquiries:

 

 Cordel Group PLC                           c/o Zeus
 Ian Buddery, Chairman

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

 Strand Hanson Limited Nominated Adviser

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

 

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.

 

 

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)

 

About Network Rail High Speed

Network Rail (High Speed) is a wholly owned subsidiary of Network Rail
Infrastructure Ltd and is the contractor maintaining the railway
infrastructure of High Speed One, the UK's only high-speed line. This means it
constantly has to prove itself as a quality provider, from reliability to
value for money. Network Rail (High Speed) operates to different standards to
the rest of Network Rail, with its own safety management system and its own
track safety qualification.

Further information is available at:

https://www.networkrail.co.uk/running-the-railway/our-routes/network-rail-high-speed/
(https://www.networkrail.co.uk/running-the-railway/our-routes/network-rail-high-speed/)

 

 

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