Cordel Expands and Extends Contract with ARTC

Cordel Group PLC

31 October 2024

 

31 October 2024

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

Cordel Expands and Extends Contract with ARTC

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce an extension to our existing contract with the Australian Rail Track Corporation ("ARTC"), taking the term of the engagement to 31 August 2025.

2024 marks the 5th year of successful partnership between ARTC and Cordel. This collaboration, which began in 2019, represents Cordel's first large-scale commercial deployment of our unattended infrastructure monitoring solution, setting a new standard in rail technology implementation.  The new extension also includes network wide Light Direction and Ranging (LiDAR), Video and Clearance Assessments.

Over the past five years, our partnership with ARTC has achieved:

·   More than 250,000 kilometres of track scanned and analysed

·   Automated processing across ARTC's extensive 8,500 km network

·   Streamlined infringement and track clearance surveys

·   Significantly enhanced safety by reducing the need for manual inspections

At the heart of this is Cordel's Wave LiDAR system, which was permanently installed on ARTC's diagnostic rail car.

Our collaboration has transformed ARTC's approach to rail inspections, leading to:

1.   Increased efficiency in infrastructure monitoring

2.   Enhanced safety for rail workers and passengers

3.   More accurate and timely data for decision-making

4.   Reduced operational costs through automation

This partnership demonstrates the long-term value of Cordel's solutions and our commitment to driving innovation in the rail industry.

Cordel CEO John Davis said:

"We're immensely proud of what we've achieved with ARTC over the past five years. This partnership has validated our technology and pushed us to innovate and improve continually. We're excited to continue this journey, driving efficiency and safety in rail operations in Australia and globally."

Enquiries:

Cordel Group PLC	c/o Cavendish
Ian Buddery, Chairman John Davis, Chief Executive Officer
Cavendish Capital Markets Limited, Broker	[phone]
Marc Milmo / Rory Sale (Corporate Finance) Sunila de Silva (Corporate Broking) Strand Hanson Limited, Nominated Adviser Richard Johnson / James Bellman	[phone]

About Cordel

Cordel produces 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.cordel.ai

 

END