REG - Cordel Group PLC - New USA Customer

CordelAnnouncement

10/07/2024 07:00

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RNS Number : 6963V  Cordel Group PLC  10 July 2024

10 July 2024

Cordel Group PLC

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

 

New USA Customer

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, is pleased to announce a new US customer
contract with Genesee & Wyoming Inc. (G&W), owner and lessor of more
than 100 short line and regional freight railroads in North America.

 

G&W will initially use Cordel's automated capture, processing and analysis
tool across railroads within its Upper Midwest and Great Lakes divisions,
which together total 900 track miles, to generate more accurate, consistent
and regularly updated data that will help to better assess clearances,
particularly those relating to the movement of high and wide loads.

This project will be utilising the new 'Cordel Rugged' automated, highly
portable and agile capture system, specifically designed to reduce engineering
overhead associated with fitting capture devices to rail inspection vehicles
and locomotives.

The captured data will be uploaded, stored and analysed in G&W's own
instance of 'Cordel Connect', our proprietary rail data platform. The
processed clearance data will then be utilised by the D/Gauge RIFT clearance
software management platform.

John Davis, CEO of Cordel, commented:

"This is another important step for us in the US market and demonstrates the
significant value that we bring to railroads globally. We are very excited to
see the impact that our new 'Cordel Connect' platform and 'Cordel Rugged'
capture system are having in the market; delivering more efficient and
sustainable ways for railroads to use digital data to inspect and maintain
their rail corridors."

 

Enquiries:

 

 Cordel Group PLC                           c/o Zeus
 Ian Buddery, Chairman

 John Davis, Chief Executive Officer
                                            +44 (0)20 3829 5000

 Zeus Capital Limited Broker
 Simon Johnson / Alexandra Campbell-Harris

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

 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/)

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