10th Jul 2024 12:06
(Alliance News) - Cordel Group PLC on Wednesday said that it has signed a new customer contract with Genesee & Wyoming Inc, an owner and lessor of short line and regional freight railroads in North America.
Cordel is a London-based company, whose flagship platform uses artificial intelligence to supply transport corridor analytics.
According to the terms of the deal, G&W will initially 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.
"This is another important step for us in the US market and demonstrates the significant value that we bring to railroads globally. We are very excited to see the impact that our new 'Cordel Connect' platform and 'Cordel Rugged' capture system are having in the market; delivering more efficient and sustainable ways for railroads to use digital data to inspect and maintain their rail corridors," said Chief Executive Officer John Davis.
Shares in Cordel Group were trading 2.0% lower at 4.31 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News senior reporter
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