REG - Cordel Group PLC - Contract Expansion in Mexico

CordelAnnouncement

24/06/2024 07:00

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RNS Number : 4871T  Cordel Group PLC  24 June 2024

24 June 2024

Cordel Group PLC

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

 

Cordel announces Contract Expansion in Mexico

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, announces it has been selected to provide
cutting-edge rail inspection insights for Tren Maya, the 1,554km intercity
railway project in Mexico.

 

The contract, initially announced on 27 October 2023, transitions to Cordel
having a direct relationship with ETD Solutions Inc, who are contracted by the
operators of Tren Maya, and enhances revenue visibility across both FY24 and
FY25.

 

Cordel's regular automated inspections will ensure a single source of
inspection data truth to ensure the network can operate safely and
sustainably, leveraging Cordel's advanced LiDAR scanning, AI-powered analytics
and cloud-based visualisation tools.

 

Cordel's unique ability to provide frequent, comprehensive rail assessments
will enable targeted maintenance and vegetation management, reducing
ecological disruption during construction and operations. The project scope
encompasses a wide selection of assessment use cases including:

●     Vegetation Detection

●     Ballast Monitoring

●     Clearance Assessments

●     Track Spacing Analysis

 

Tim Francis, VP of US/LATAM at Cordel said:

"We are thrilled to partner on this visionary infrastructure initiative. Our
AI powered analytics will help to optimise inspection decision making,
minimising environmental impact while maximising public safety across the rail
network."

 

John Davis, CEO of Cordel, added:

Our strengthening partnership with Tren Maya and ETD will help them achieve an
environmentally responsible, safe rail system. Latin America represents a
significant growth opportunity for our technology and we hope to build our
reputation across the region."

 

Enquiries:

 

 Cordel Group PLC                           c/o Zeus
 Ian Buddery, Chairman

 John Davis, Chief Executive Officer
 Zeus Capital Limited Broker                +44 (0)20 3829 5000
 Simon Johnson / Alexandra Campbell-Harris

 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 (http://www.cordel.ai/)

 

About ETD Solutions Inc

ETD SOLUTIONS INC integrates specialized products, services and solutions for
the railway transport and aviation, Security and Defense industry and
airports, backed by its own technical capabilities and strategic alliances
with manufacturers, certified and reliable suppliers.  Further information is
available at: etdsolutionsinc.com

 

About Tren Maya

The Tren Maya (sometimes also Mayan Train or Maya Train) is a
1,554 km-long (966 mi) intercity railway in Mexico that traverses
the Yucatán Peninsula. Construction began in June 2020 and the
Campeche-Cancún section began operation on 15 December 2023, with the rest of
the line to open later. The railway begins in Cancún International
Airport and travels southwest towards Palenque, Chiapas, via two routes that
encircle the peninsula.

 

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