Cordel Group inks trial deal with Asia-Pacific railway

25th Apr 2024 10:01

(Sharecast News) - Cordel Group announced a deal with a major national railway in the Asia-Pacific region on Thursday, entailing a 12-week paid trial of its forward-facing video solution (FFV) alongside the provision of LiDAR data to explore other potential applications such as vegetation management and clearance assessments.

The AIM-traded firm said that as part of the agreement, a Cordel Wave LiDAR sensor and camera would be installed on an operational locomotive to capture LiDAR data and video footage.

It said success in the FFV trial could pave the way for its adoption across the customer's broader locomotive fleet, with the possibility of integrating LiDAR technology to support additional use cases as needed.

"We are delighted to welcome a new major customer, with a 4,000 kilometre rail network which is being reinvigorated by unprecedented government investment, including a digital engineering programme, which utilises the best digital technology to improve network performance, safety and efficiency," said chief executive officer John Davis.

At 0855 BST, shares in Cordel Group were up 10% at 4.18p.

Reporting by Josh White for Sharecast.com.