REG - Cordel Group PLC - New Contract

CordelAnnouncement

05/07/2022 07:00

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RNS Number : 2692R  Cordel Group PLC  05 July 2022

5 July 2022

Cordel Group PLC

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

 

 

New Contract Announcement

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, announces that it has been awarded a 12-month
contract to deliver its LiDAR-based solutions to One Rail Australia.

 

One Rail Ballast Analysis

Cordel has delivered to One Rail Australia a solution for ballast profile
analysis to automate processing for over 2,000kms of freight railway. The
solution consists of a LiDAR (Light Detection and Ranging) captured Digital
twin of the entire Tarcoola to Darwin rail network, which runs through the
centre of Australia. Delivery is inclusive of high-definition video, and
automated ballast assessments. Cordel's automated analysis measures ballast
deficiency, depth and volumes, with materials estimation to replenish
deficient areas.

About One Rail Australia

One Rail is one of Australia's largest and most reliable rail freight service
providers, with 3,700km of owned and leased track, carrying 55 million tonnes
of freight annually. Specialising in Intermodal transport, Coal Haulage
Services, Bulk Haulage services and Rail Infrastructure and Access operations,
One Rail operates in South Australia and the Northern Territory, which
includes the Tarcoola to Darwin rail line.  More information is available at
www.1rail.com.au (http://www.1rail.com.au)

 

Nick Smith, CEO of Cordel, commented:

"Following six months of detailed product development and testing, Cordel's
technology allows the acquisition and processing of thousands of miles of
railway ballast condition data completely automatically using Cordel's
proprietary Machine Learning technology. It provides the ability for One Rail
to plan their ballast capital works and conduct remote inspections and site
assessments without deploying personnel to the remote outback of Australia,
saving costs and increasing safety."

 

Ian Buddery, Chairman of Cordel, commented:

"We are proud of the continuing evolution of our platform and its expanding
application to multiple areas of major railway operations.  Automation is a
key theme throughout the global rail industry and Cordel is steadily acquiring
new customers due to our proven LiDAR Sensors and Artificial Intelligence
technology."

 

 

Enquiries:

 

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

 Nick Smith, CEO

 Arden Partners plc Broker                  +44 (0)20 7614 5900
 Ruari McGirr

 Strand Hanson Limited Nominated Advisor    +44 (0)20 7409 3494

 Richard Johnson / James Bellman

 SEC Newgate (Financial PR)                 +44 (0)7540 106366
 Robin Tozer / Bob Huxford / George Esmond  cordel@secnegwate.co.uk

 

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

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