25th Apr 2024 14:23
(Alliance News) - Cordel Group PLC shares jumped on Thursday, after it said it has won a contract with "a major national railway in the Asia Pacific region."
Cordel is a London-based company, whose flagship platform uses artificial intelligence to supply transport corridor analytics.
Its shares were up 28% to 4.88 pence each in London on Thursday afternoon.
Cordel said the customer has agreed to proceed with a 12-week paid trial of Cordel's forward facing video solution. In addition, Cordel is providing LiDAR data to evaluate other use cases such as Vegetation Management and Clearance assessments, it added.
Chief Executive John Davis said: "We are delighted to welcome a new major customer, with a 4,000 kilometre rail network which is being reinvigorated by unprecedented government investment, including a digital engineering programme, which utilises the best digital technology to improve network performance, safety and efficiency."
By Sophie Rose, Alliance News senior reporter
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