24th Feb 2025 10:51
(Alliance News) - Cordel Group PLC on Monday said it has expanded its existing contract with Genesee & Wyoming Inc, an owner and lessor of short line and regional freight railroads in North America.
The London-based company whose flagship platform uses artificial intelligence to supply transport corridor analytics said the contract, inked in July 2024, has now expanded to include 2,000 track miles, from an initial 900.
Under the contract's original terms, G&W will use Cordel's automated capture, processing and analysis tool across railroads in its Upper Midwest and Great Lakes divisions. The captured data will then be uploaded, stored and analysed in G&W's own instance of 'Cordel Connect', the firm's proprietary rail data platform.
The expanded deal also now includes the addition of a second Cordel Rugged LiDAR capture system for G&W's American region railroads.
Chief Executive Officer John Davis said: "We are delighted by the rapid expansion of our G&W relationship, which validates the effectiveness of our services and the quality of our deliverables. We continue to invest in our US sales and engineering team as part of our core growth strategy, with its twin pillars of rail corridor data analysis and positive train control."
Shares in Cordel were down 0.7% at 7.45 pence in London on Monday morning.
By Emily Parsons, Alliance News reporter
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