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