(Alliance News) - Maestrano Group PLC on Wednesday said it has won a paid advanced artificial intelligence rail pilot project in Japan.
Shares in Maestrano were up 11% at 2.88 pence in London in late morning trading.
Nagoya Railroad Co Ltd's initial purchase order covers a two-month pilot project intended to capiture and analyse data from a section of railway track in Nagoya, Japan. The order was obtained by artificial intelligence platform Maestrano's Airsight subsidiary and its value was not disclosed. It follows a previous trial announces in October.
Airsig's Corridor ai deep machine learning platform will use LiDAR or light detection & ranging, as well as high resolution video, to automatically detect faults in signals, overhead powerlines, and gantries.
Should the pilot prove successful, private company Nayoya Railroad, referred to as Meitetsu, plans to extend both the scope and the duration of the project.
Nick Smith, who co-founded Airsight and is now vice president of Sales at Maestrano, said: "We are proud and delighted to be commencing this project with Meitetsu. This is the first international validation of our Corridor.ai technology and the result of our long-term commitment to the Japan railway industry. Japan is today the largest market for our LiDAR products and we believe has the potential to be a major market for our AI platform."
Maestrano Chief Executive Andrew pearson said: "Japan has arguably the most sophisticated and advanced rail infrastructure in the world. We believe that success here will help to raise our profile in the global rail asset management industry and position Corridor.ai as the world's leading automated defect detection and management platform."
By Anna Farley; annafarley@alliancenews.com
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