USA Contract Upgrade

Summary by AI ^BETAClose X

Cordel Group PLC has announced an upgraded and extended contract with Genesee & Wyoming Inc. (G&W), transitioning to a fixed monthly Software as a Service (SaaS) model for its AI platform. This new agreement provides G&W with enterprise access for up to 200 users, including continued use of the D/Gauge RIFT platform, and covers significant processed mileage annually. The contract is expected to generate over US$600,000 for Cordel in 2026, representing a positive shift towards predictable revenue growth and contributing to the company's full-year targets.

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Cordel Group PLC

05 March 2026

5 March 2026

Cordel Group PLC

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

USA Contract Upgrade

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce the upgrade and extension of its contract with Genesee & Wyoming Inc. (G&W), owner and lessor of more than 100 short line and regional freight railroads in North America.

Last extended and announced on 24 February 2025, the contract now moves to a new Strategic LiDAR Program under a fixed monthly fee, Software as a Service (SaaS) model, moving away from a per-order approach.

The agreement provides G&W with full enterprise access to the Cordel Connect platform for up to 200 G&W users, along with continued, inclusive use of the D/Gauge RIFT platform and covers up to 3,000 processed miles for Clearance and 7,000 total miles for the RIFT platform annually, delivering Cordel in excess of US$600k in 2026.

Ian Buddery, Chairman, Cordel, said: "We are proud to announce our continuing engagement with G&W, one of our major USA customers, built on a foundation of delivering accurate, timely and critical AI analytics. This is also an important step in the evolution of major clients to our SaaS business model, helping to ensure predictable revenue growth for the future. This announcement plus the new Class 1 announced on 16 February have put us back on track for the board's full year target."

Enquiries:

Cordel Group PLC

c/o Cavendish

Ian Buddery, Chairman

John Davis, Chief Executive Officer

Cavendish Capital Markets Limited, Broker

+44 (0)20 7220 0500

Marc Milmo

Sunila de Silva (Corporate Broking)

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

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