TIDMCRDL

RNS Number : 0892T

Cordel Group PLC

13 November 2023

13 November 2023

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

Network Rail Project Update

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, is pleased to provide an update for the long-term National Gauging Database contract with Network Rail ("NR") originally announced on 22 December 2021.

In 2021, Cordel won Network Rail's competitive tender to replace the legacy National Gauging Database with a more resilient, modern system - the Railway Gauging Data Solution ("RGDS"). After 18 months of development, and following intensive data transfer from old to new, RGDS has been in live production since August 2023.

More than 345 authorised users across NR and third-party suppliers are benefiting from Cordel's additional post-processing that enables more consistent positioning of lineside structures, enhanced quality assurance and shortened feedback loops to support NR decision-makers to improve the integrity of the national gauging dataset. Going forward, the modern IT architecture of Cordel's RGDS unlocks potential to speed up data processing and provide further valuable alignment, with data that can be relied on.

Phil Whatley, Head of Delivery (Data Management) for NR's Asset Information Services said: "The big news is that Cordel's RGDS did not hit the headlines for the wrong reasons: it was a smooth process, maintaining the beat rate of 4-weekly Periodic Releases of data. Basically, Cordel gave us on-time, on-budget delivery of a major software project, which is not an everyday occurrence."

John Davis, CEO of Cordel, commented :

"Railways around the world have significant time and cost barriers between the capture of massive amounts of data (such as LiDAR point clouds) and the delivery of precise insights to their engineering and maintenance users. For Network Rail, the gauging and clearances challenges are particularly acute: the railway serves 250 different types of rail vehicle requiring clearance to tightly-constrained infrastructure. We are proud of the continuing success of our solution, which brings us credibility with major railways globally and in turn confidence in our growth outlook."

Enquiries:

 
 Cordel Group PLC                             c/o Zeus 
 Ian Buddery, Chairman 
  John Davis, Chief Executive Officer 
 
   Zeus Capital Limited Broker                +44 (0)20 3829 5000 
 Simon Johnson / Alexandra Campbell-Harris 
 
  Strand Hanson Limited Nominated Adviser 
  Richard Johnson / James Bellman               +44 (0)20 7409 3494

About Cordel

Cordel produces 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.cordel.ai

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDFFMSASEDSELF

(END) Dow Jones Newswires

November 13, 2023 02:00 ET (07:00 GMT)

Cordel (LSE:CRDL)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Cordel Charts.
Cordel (LSE:CRDL)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Cordel Charts.