31 October 2024
Cordel Group
PLC
("Cordel"
or the "Company" or the "Group")
Cordel Expands and Extends
Contract with ARTC
Cordel Group PLC (AIM: CRDL), the
Artificial Intelligence platform for transport corridor
analytics, is pleased to announce an
extension to our existing contract with the Australian Rail Track
Corporation ("ARTC"),
taking the term of the engagement to 31 August 2025.
2024 marks the 5th year of
successful partnership between ARTC and
Cordel. This collaboration, which
began in 2019, represents Cordel's first large-scale commercial
deployment of our unattended infrastructure monitoring solution,
setting a new standard in rail technology implementation. The
new extension also includes network wide Light Direction and
Ranging (LiDAR), Video and Clearance Assessments.
Over the past five years, our
partnership with ARTC has achieved:
· More than 250,000
kilometres of track scanned and analysed
· Automated processing across ARTC's extensive 8,500 km
network
· Streamlined infringement and track clearance
surveys
· Significantly enhanced safety by reducing the need for manual
inspections
At the heart of this is Cordel's
Wave LiDAR system, which was permanently installed on ARTC's
diagnostic rail car.
Our collaboration has transformed
ARTC's approach to rail inspections, leading to:
1. Increased efficiency
in infrastructure monitoring
2. Enhanced safety for
rail workers and passengers
3. More accurate and
timely data for decision-making
4. Reduced operational
costs through automation
This partnership demonstrates the long-term
value of Cordel's solutions and our commitment to driving
innovation in the rail industry.
Cordel CEO John Davis said:
"We're immensely proud of what we've achieved with ARTC over
the past five years. This partnership has validated our technology
and pushed us to innovate and improve continually. We're excited to
continue this journey, driving efficiency and safety in rail
operations in Australia and globally."
Enquiries:
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Cordel Group PLC
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c/o Cavendish
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Ian Buddery, Chairman
John Davis, Chief Executive
Officer
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Cavendish Capital Markets Limited, Broker
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+44 (0)20 7220 0500
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Marc Milmo /
Rory Sale (Corporate Finance)
Sunila de
Silva (Corporate Broking)
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