27th Jul 2020 10:58
(Alliance News) - Maestrano Group PLC on Monday said it secured a distributor agreement in North America and reported "excellent" progress at its Meitetsu pilot project.
Shares in Maestrano, a provider of artificial intelligence services for transport corridor analytics, climbed 14% to 8.00 pence each in London on Monday morning.
The companies Nextcore drone-making subsidiary named San Diego-based MODUS as its first North American distributor.
"MODUS is a pioneer in military and commercial remote sensing drone technologies and a leading solution provider to the surveying, construction, forestry, environmental management and mining industries," Maestrano explained, but did not offer any financial details involved in the agreement.
Its Corridor Technology unit has completed the first two phases of the Meitetsu scheme.
The advanced artificial intelligence rail pilot project in Japan will now move the phase 3 "with an increased scope and term".
Maestrano Vice President for Sales Nick Smith said: "We are making excellent progress working with Meitetsu and the evolution of our Machine Learning platform in the Japanese rail network environment. It has been particularly pleasing to see the applicability of developments from Australia and the UK in Japan and vice versa."
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
MNO.L