6 Jan 2020 09:14
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 Insightstm 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 Insightstm 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 NextCoretm LiDAR systems and our Corridor Insightstm 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. NextCoretm 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