REG - Cordel Group PLC - Partnership with VRSD, a subsidiary of Vossloh AG

CordelAnnouncement

20/01/2025 07:00

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RNS Number : 7919T  Cordel Group PLC  20 January 2025

20 January 2025

Cordel Group PLC

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

 

Partnership with VRSD, a subsidiary of Vossloh AG

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, is pleased to announce a new partnership with
VRSD, a subsidiary of Vossloh AG.

VRSD is engaged in railway related services, with expertise in rail
infrastructure and rail technology markets. It provides various types of rail
services and has at its disposal technical capabilities and expertise relating
to stationary and mobile machines as well as personnel for railway services.

In order to assess the technical capabilities of Cordel LiDAR and AI
technology deployed on VRSD grinding machines, Vossloh AG and Cordel are
conducting an initial Proof of Concept ("PoC") project.  Key aspects of the
project, beyond establishing technical feasibility, include a joint market
strategy, extended fleet integration, data insights, data-based consulting for
end customers and profit-sharing, all aimed at maximizing value for both
parties.

Cordel will provide automated, AI-enhanced outputs to Vossloh, including our
proven Video and LiDAR data deliverables, together with accurate geolocation
and access to the Cordel Connect Data Management Platform.

Both parties aim to leverage the outcomes of the PoC to create a long-term,
value-driven collaboration for our railway infrastructure customers.

Vossloh Head of Digitalization Pierre-Henri Bougeant said, "This partnership
represents an exciting step forward in combining Vossloh's market position in
the rail infrastructure and with Cordel's LiDAR and AI capabilities. Through
this Proof of Concept, we aim to deliver transformative solutions that enhance
operational efficiency, optimize rail maintenance, and create significant
value for our customers."

Cordel CEO John Davis said, "This important partnership represents Cordel's
first entry into the continental European railway infrastructure market. The
insights we generate from our LiDAR and AI during the PoC will be shared with
Vossloh's customers. We are confident that our automated scanning and analysis
will provide a compelling business case for Vossloh and their customers,
demonstrating the value of integrating Cordel technology onto Vossloh's
grinding machines."

 

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

Further information on Vossloh AG is available at: www.vossloh.com
(http://www.vossloh.com/)

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