Cordel Group PLC on Monday announced a new contract in the US, its third deal with a ‘class 1 railroad’.
The London-based company, whose flagship platform uses artificial intelligence to supply transport corridor analytics, said the initial phase of the pact includes the capture of 3,000 miles of active rail network.
Cordel Chair Ian Buddery said: ‘We are delighted to announce our third class 1 contract and our fourth major USA customer. In addition this win confirms the growing acceptance of our PTC solution, which has evolved quickly from conception to market launch and commercial contracts.’
Cordel’s PTC offering automatically detects and locates trackside asset.
‘Using our multimodal AI capabilities, we have created an advanced and cost-effective service which meets all the requirements of our customers,’ Buddery said.
Cordel shares fell 3.1% to 4.70 pence each in London on Monday morning.
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