Maestrano Group PLC Contract win with major Australian rail company (8226Y)
06 January 2020 - 8:14PM
UK Regulatory
TIDMMNO
RNS Number : 8226Y
Maestrano Group PLC
06 January 2020
6 January 2020
Maestrano Group PLC ("Maestrano" or the "Company")
Maestrano wins contract with major Australian rail company
Maestrano Group PLC (AIM: MNO), the Artificial Intelligence
platform for transport corridor analytics, is pleased to announce a
new contract with the Australian Rail Track Corporation (ARTC), won
by its recently acquired subsidiary, Airsight.
ARTC is a Government of Australia owned statutory corporation,
which manages most of Australia's interstate rail network, 8500
kilometres in length across five states.
Airsight will install its Corridor Insights(tm) LiDAR (Light
Distance and Ranging) plus high-resolution camera equipment onto an
ARTC data collection rail car, for the purpose of collecting
accurate digital imagery and a "point cloud" of the rail network.
This data will be processed by the Corridor Insights(tm) Artificial
Intelligence (AI) platform, to measure encroachment and extract and
match network assets, such as trackside equipment.
Nick Smith, co-founder of Airsight and now Vice President Sales
for Maestrano, said:
"We are excited to announce this contract, which features our
industry-leading NextCore(tm) LiDAR systems and our Corridor
Insights(tm) AI platform for automated asset management in rail
corridors. Together as Corridor.ai, the platform generates ongoing
recurring revenue from the per-kilometre analysis of rail corridor
data. ARTC is an existing client for other Airsight services,
however this is their first contract for Corridor.ai and our
largest deployment to date."
Andrew Pearson, CEO of Maestrano, commented:
"This is another fantastic win by Nick and his team, proving the
competitive advantage of our world-leading technology. NextCore(tm)
and Corridor Insights are the core components of our Corridor.ai
system, the world's leading automated defect detection and
management platform."
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Maestrano Group plc
Andrew Pearson, CEO c/o IFC
Grant Thornton (Nominated Adviser)
Colin Aaronson / Jamie Barklem / Niall McDonald +44 (0)20 7383 5100
Arden Partners (Broker)
Ruari McGirr / Ciaran Walsh +44 (0)20 7614 5900
IFC Advisory Limited (Financial PR & IR)
Graham Herring / Zach Cohen +44 (0)20 3934 6630
graham.herring@investor-focus.co.uk
Zach.cohen@investor-focus.co.uk
About Maestrano
Maestrano offers a patented cloud-based platform for master data
management and business analytics, together with 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.maestrano.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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END
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