REG - Cordel Group PLC - New USA Class 1 Contract

CordelAnnouncement

02/06/2025 07:00

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RNS Number : 8951K  Cordel Group PLC  02 June 2025

2nd June 2025

Cordel Group PLC

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

 

Cordel Announces New USA Class 1 Contract

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, is pleased to announce a new 5 year term
contract with one of the leading Class 1 freight railroads in the United
States. The agreed full term base contract is for over US$3.7m and includes an
additional US$3.8m provision for Cordel's latest PTC Asset Management SaaS
following its anticipated launch in July.

 

Cordel will deliver its full suite of capture, processing and delivery of rail
corridor data and insights. The client's complete network will be captured and
analysed on an annual basis, utilising Cordel's unique ability to deliver
significant volumes of processed rail corridor data at high frequency with
high levels of accuracy.

 

Cordel will supply multiple Rugged LiDAR capture systems, which will reside
semi-permanently on existing rail-bound geometry vehicles, for automated
upload and processing.  Cordel's proprietary AI will classify processed
outputs to include identification of Rail Heads, Ballast, Vegetation,
Structure, Platforms and Overhead Line Equipment.

 

Cordel Connect, the rail-centric data insights platform, will deliver
consistent data to enterprise stakeholders and departments.

 

John Davis, CEO of Cordel, commented:

"We are delighted to announce our second Class 1 multi-year contract and our
third major USA customer, alongside Amtrak and Genesee & Wyoming.  The
world's best railroads are choosing Cordel because of our complete solution:
industry leading data management, multimodal AI and automated insights and
visualisation.  While economic uncertainty is currently extending decision
cycles, we are confident in our strategy and long term growth trajectory."

 

 

Enquiries:

 

 Cordel Group PLC                           c/o Cavendish Capital Markets Limited
 Ian Buddery, Chairman

 John Davis, CEO
 Cavendish Capital Markets Limited, Broker  +44 (0)20 3829 5000
 Marc Milmo (Corporate Finance)

 Sunila de Silva (Corporate Broking)
                                            +44 (0) 20 7409 3494

 Strand Hanson Limited, Nominated Advisor

 Richard Johnson / James Bellman

 

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/)

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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