Cordel Group PLC New Contract (2692R)

TIDMCRDL

RNS Number : 2692R

Cordel Group PLC

05 July 2022

5 July 2022

Cordel Group PLC

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

New Contract Announcement

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, announces that it has been awarded a 12-month contract to deliver its LiDAR-based solutions to One Rail Australia.

One Rail Ballast Analysis

Cordel has delivered to One Rail Australia a solution for ballast profile analysis to automate processing for over 2,000kms of freight railway. The solution consists of a LiDAR (Light Detection and Ranging) captured Digital twin of the entire Tarcoola to Darwin rail network, which runs through the centre of Australia. Delivery is inclusive of high-definition video, and automated ballast assessments. Cordel's automated analysis measures ballast deficiency, depth and volumes, with materials estimation to replenish deficient areas.

About One Rail Australia

One Rail is one of Australia's largest and most reliable rail freight service providers, with 3,700km of owned and leased track, carrying 55 million tonnes of freight annually. Specialising in Intermodal transport, Coal Haulage Services, Bulk Haulage services and Rail Infrastructure and Access operations, One Rail operates in South Australia and the Northern Territory, which includes the Tarcoola to Darwin rail line. More information is available at www.1rail.com.au

Nick Smith, CEO of Cordel, commented:

"Following six months of detailed product development and testing, Cordel's technology allows the acquisition and processing of thousands of miles of railway ballast condition data completely automatically using Cordel's proprietary Machine Learning technology. It provides the ability for One Rail to plan their ballast capital works and conduct remote inspections and site assessments without deploying personnel to the remote outback of Australia, saving costs and increasing safety."

Ian Buddery, Chairman of Cordel, commented:

"We are proud of the continuing evolution of our platform and its expanding application to multiple areas of major railway operations. Automation is a key theme throughout the global rail industry and Cordel is steadily acquiring new customers due to our proven LiDAR Sensors and Artificial Intelligence technology."

Enquiries:

 
 Cordel Group PLC                             c/o SEC Newgate 
 Ian Buddery, Chairman 
  Nick Smith, CEO 
 Arden Partners plc Broker                    +44 (0)20 7614 5900 
 Ruari McGirr 
 
  Strand Hanson Limited Nominated Advisor 
  Richard Johnson / James Bellman               +44 (0)20 7409 3494 
 SEC Newgate (Financial PR)                   +44 (0)7540 106366 
 Robin Tozer / Bob Huxford / George Esmond    cordel@secnegwate.co.uk

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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