REG - Cordel Group PLC - New Middle East Customer Contract

CordelAnnouncement

18/06/2024 07:00

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RNS Number : 6833S  Cordel Group PLC  18 June 2024

18 June 2024

Cordel Group PLC

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

 

New Middle East Customer Contract

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, is pleased to announce a significant new
customer engagement in the Middle East. The end customer operates a major rail
network. This initial six-month project, valued at £370,000, marks Cordel's
first contract win in the Middle East.

 

Cordel will supply LiDAR data, high-resolution video, and gauging surveys as
part of the engagement. Cordel will deploy its new Rugged LiDAR system, which
has been tested on over 1,000,000 kilometres in the Australian, USA and UK
environments. This has demonstrated its ability to perform in some of the
world's most inhospitable operating conditions, including where daytime
temperatures reach more than 50 degrees Celsius.

 

The project extends Cordel's long-term strategic partnership with D/Gauge, the
UK's leading rail gauging services company and part of the TUV Rheinland
Group.  D/Gauge's clearance capabilities complement Cordel's rail corridor
asset detection AI technology and automated clearance datasets, enabling
railway operators to rapidly and efficiently obtain safety-critical gauging
and clearance information for all projects, plans, and routes in their
network.

 

John Davis, CEO of Cordel, commented:

"We are thrilled to establish our presence in the Middle East, an important
target geography, with this significant customer engagement. Our enhanced
product positioning and strong partnerships enable us to enter new markets
rapidly, as evidenced by our recent successes in Mexico and now the Middle
East. We look forward to delivering exceptional value to our new customers and
further expanding our footprint in this strategic region."

 

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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