15 Jan 2020 10:36
15 January 2020
Maestrano Group PLC ("Maestrano" or the "Company")
Maestrano wins Advanced Artificial Intelligence Rail Project in Japan
Maestrano Group PLC (AIM: MNO), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce the commencement of a new paid pilot project in Japan, won by its recently acquired subsidiary, Airsight.
The initial purchase order, from Nagoya Railroad Co Ltd, covers a two month pilot, to capture and analyse data from a section of railway track in Nagoya, Japan. Imagery from LiDAR (Light Detection and Ranging) and high resolution video will be processed by the Airsight Corridor.ai deep machine learning platform, to automatically detect defects in the overhead powerlines, gantries and signals.
Nagoya Railroad Co Ltd, referred to as Meitetsu, is a private company operating around Japan's Aichi and Gifu Prefectures. Nagoya is the capital of Aichi Prefecture and is Japan's fourth largest incorporated city, and third most-populous urban area. http://www.meitetsu.jp/
The paid pilot follows an earlier trial as referred to in the Shareholder Circular of 15 October 2019. Upon successful completion of the pilot, Meitetsu intends to extend the duration and scope of the project.
Nick Smith, co-founder of Airsight and now Vice President Sales for 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."
Andrew Pearson, CEO of Maestrano, commented:
"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."
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