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:
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Cordel Group PLC
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c/o Zeus
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Ian Buddery, Chairman
John Davis, Chief Executive
Officer
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Zeus Capital Limited Broker
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+44 (0)20 3829 5000
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Simon Johnson / Alexandra
Campbell-Harris
Strand Hanson Limited Nominated Adviser
Richard Johnson / James
Bellman
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+44 (0)20 7409 3494
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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