Cordel Group PLC ARTC Contract Extension (4773F)
10 7월 2023 - 4:00PM
UK Regulatory
TIDMCRDL
RNS Number : 4773F
Cordel Group PLC
10 July 2023
10 July 2023
Cordel Group PLC
("Cordel" or the "Company" or the "Group")
ARTC Contract Extension
Cordel Group PLC (AIM: CRDL), the Artificial Intelligence
platform for transport corridor analytics, is pleased to announce
an extension to our existing clearances contract with the
Australian Rail Track Corporation ("ARTC"), taking the term of the
engagement to 31 August 2024.
The original contract was signed on 6 January 2020 and then
extended on 26 November 2020, for the period to 30 June 2023.
This latest extension has been made possible by the commitment
of both ARTC and Cordel to rigorously validate the clearance
capabilities of the Wave OEM scanning equipment and the automated
processing techniques deployed by Cordel. The validation process,
conducted over the past 12 months, has proved that the technology
provides reliable and effective management of clearances on the
ARTC network in accordance with the ARTC Section 7 Code of Practice
and has thus been approved for use in clearance assessments.
As part of the approval, Cordel has deployed additional services
such as point cloud classification, advanced structure gauge
assessments, track spacing and centreline reports, with a
continuous commitment to extend the capabilities of automated
unattended capture systems using AI and machine learning at
scale.
Cordel CEO John Davis said, "We are delighted to be continuing
our important engagement with ARTC, for whom we have scanned and
analysed over 150,000 Kms of track distance. Moreover, the
continuation of the contract allows ARTC to conduct assessments
without the need to deploy inspection teams into the rail corridor.
This is cost effective, efficient and reduces personnel risk whilst
completing clearance assessments."
Enquiries:
Cordel Group PLC c/o Zeus
Ian Buddery, Chairman
John Davis, Chief Executive Officer
Zeus Capital Limited Broker +44 (0)20 3829 5000
Simon Johnson / Alexandra Campbell-Harris
Strand Hanson Limited Nominated Adviser
Richard Johnson / James Bellman +44 (0)20 7409 3494
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
About ARTC
ARTC is a Government of Australia owned statutory corporation,
which manages most of Australia's interstate rail network, 8500
kilometres in length across five states.
The information contained within this announcement is deemed by
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END
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July 10, 2023 03:00 ET (07:00 GMT)
Cordel (LSE:CRDL)
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부터 4월(4) 2024 으로 5월(5) 2024
Cordel (LSE:CRDL)
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부터 5월(5) 2023 으로 5월(5) 2024