(Alliance News) - Shares in 1Spatial PLC rose on Thursday after it said it secured a contract to deliver a digital system map of the UK's energy system to support a pathway to net zero.
The stock was trading 5.1% higher at 31.00 pence each on Thursday morning in London.
The Cambridge-based location data software provider said under the contract awarded by the Energy Networks Association, it will collaborate with Ordnance Survey, with its 1Integrate and 1Datagateway tools deployed to audit and validate the network data from all of Britain's electricity and gas network operators to ensure it is fit for purpose before being visualised in Ordnance Survey's Digital Asset Hub.
1Spatial stated the National Energy System Map being developed will improve the transparency of the electricity and gas networks in order to help companies to make intelligent investment decisions, support new markets, and help bring new renewable connections to the energy networks
"We are delighted to be delivering the transformational National Energy Systems Map in collaboration with the ENA and Ordnance Survey, using the power of data to support a more efficient pathway to net zero. The contract exemplifies the breadth and depth of 1Spatial's capabilities as a leader in data management and migrations. 1Spatial is committed to providing dynamic market offerings that utilise our world leading data management capabilities, partnering with market leaders like Ordnance Survey is crucial to this," said Chief Executive Claire Milverton.
By Ife Taiwo; ifetaiwo@alliancenews.com
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1Spatial Holdings (SPA)