Cordel Group extends relationship with Amtrak

5th Aug 2024 10:38

(Sharecast News) - Artificial intelligence platform operator Cordel Group has extended its relationship with Amtrak through the award of a contract to provide a comprehensive assessment of its Metro-North corridor.

Cordel said on Monday that the contract extension builds upon its ongoing work with Amtrak and aims to enhance safety and efficiency on the rail line, with the expansion including detailed centerline information for Metro-North rail lines, thorough assessment of structure clearances, and evaluation of passing clearances.

The AIM-listed group noted that building on the existing successful collaboration with Amtrak, it will continue to provide autonomous data capture capabilities, leveraging its state-of-the-art LiDAR technology to scan and store structure data for the entire Metro-North corridor.

Financial terms of the deal were not disclosed.

Chief executive John Davis said: "We are delighted that our business relationship with Amtrak continues to grow, building on the foundations of our delivery strength and advanced technology. We continue to invest in our USA team, adding sales and engineering resources for our most important growth market, where we are confident in becoming the clear market leader for automated inspections."

As of 1035 BST, Cordel shares were up 2.36% at 4.56p.

Reporting by Iain Gilbert at Sharecast.com