REG - Cordel Group PLC - USA Contract Upgrade

CordelAnnouncement

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RNS Number : 3819V  Cordel Group PLC  05 March 2026

5 March 2026

Cordel Group PLC

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

USA Contract Upgrade

 

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

Last extended and announced on 24 February 2025, the contract now moves to a
new Strategic LiDAR Program under a fixed monthly fee, Software as a Service
(SaaS) model, moving away from a per-order approach.

 

The agreement provides G&W with full enterprise access to the Cordel
Connect platform for up to 200 G&W users, along with continued, inclusive
use of the D/Gauge RIFT platform and covers up to 3,000 processed miles for
Clearance and 7,000 total miles for the RIFT platform annually, delivering
Cordel in excess of US$600k in 2026.

 

Ian Buddery, Chairman, Cordel, said: "We are proud to announce our continuing
engagement with G&W, one of our major USA customers, built on a foundation
of delivering accurate, timely and critical AI analytics.  This is also an
important step in the evolution of major clients to our SaaS business model,
helping to ensure predictable revenue growth for the future.  This
announcement plus the new Class 1 announced on 16 February have put us back on
track for the board's full year target."

 

 

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

 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

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