Two New Contract Wins for Cordel
13 November 2024
Cordel Group PLC
("Cordel" or the "Company" or the "Group")
Two New Contract Wins for Cordel
Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce two new contracts.
First contract win
Cordel has won a contract with Australia's largest rail freight operator, Aurizon Holdings Ltd ("Aurizon"), to process clearances for them.
Aurizon manages and operates major rail infrastructure assets in Queensland, South Australia, and the Northern Territory with more than 5,100 kms of rail track under management.
Cordel will provide automated, AI enhanced, clearance assessments across part of Aurizon's rail network, including standard Video and LiDAR data deliverables and access to Cordel's Connect Data Management Platform.
Second contract win
Cordel has also been awarded a contract with one of the UK's biggest and busiest passenger train operators, Southeastern (trading name of SE Trains Limited), which has contracted Cordel to help optimise the accessibility of new trains that they are working to procure.
Southeastern serves six London terminal stations and a total of 181 stations across south-east London, Kent and parts of East Sussex. It provides over 1,700 train services per day.. To support growing demand, provide better customer facilities and improve accessibility, Southeastern are seeking a new or upgraded fleet of trains to deliver their commuter-style Metro services.
Working with the South East Alliance of Southeastern and Network Rail, Cordel will deploy its automated LiDAR capture and AI-processing services to provide up-to-date accurate measurements of Southeastern's Station Platforms to meet Network Rail's standard requirements.
Southeastern MD Steve White said, "The number of customers travelling with Southeastern is continuing to rise year on year, with 133 million journeys last year and further growth continuing this year, too. Our work with Cordel will help us improve accessibility, as we support this growing demand and provide better customer facilities."
Cordel CEO John Davis said, "These two contracts, both with new customers, are entry points into what we hope will evolve to network-wide delivery with Aurizon in Australia and Southeastern in the UK. We are confident that our automated scanning and analysis will provide a compelling business case for Aurizon, while the Southeastern contract will demonstrate Cordel's ability to provide measured outputs that are not currently available to new train designers and specifiers, extending our range of services."
Enquiries:
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Cordel Group PLC |
c/o Cavendish |
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Ian Buddery, Chairman John Davis, Chief Executive Officer |
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Cavendish Capital Markets Limited, Broker |
+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 |
+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
Further information on Aurizon is available at: www.aurizon.com.au
Further information on Southeastern is available at: www.southeasternrailway.co.uk
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