Maestrano Group PLC Contract win with major Australian rail company (8226Y)

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RNS Number : 8226Y

Maestrano Group PLC

06 January 2020

6 January 2020

Maestrano Group PLC ("Maestrano" or the "Company")

Maestrano wins contract with major Australian rail company

Maestrano Group PLC (AIM: MNO), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce a new contract with the Australian Rail Track Corporation (ARTC), won by its recently acquired subsidiary, Airsight.

ARTC is a Government of Australia owned statutory corporation, which manages most of Australia's interstate rail network, 8500 kilometres in length across five states.

Airsight will install its Corridor Insights(tm) LiDAR (Light Distance and Ranging) plus high-resolution camera equipment onto an ARTC data collection rail car, for the purpose of collecting accurate digital imagery and a "point cloud" of the rail network. This data will be processed by the Corridor Insights(tm) Artificial Intelligence (AI) platform, to measure encroachment and extract and match network assets, such as trackside equipment.

Nick Smith, co-founder of Airsight and now Vice President Sales for Maestrano, said:

"We are excited to announce this contract, which features our industry-leading NextCore(tm) LiDAR systems and our Corridor Insights(tm) AI platform for automated asset management in rail corridors. Together as Corridor.ai, the platform generates ongoing recurring revenue from the per-kilometre analysis of rail corridor data. ARTC is an existing client for other Airsight services, however this is their first contract for Corridor.ai and our largest deployment to date."

Andrew Pearson, CEO of Maestrano, commented:

"This is another fantastic win by Nick and his team, proving the competitive advantage of our world-leading technology. NextCore(tm) and Corridor Insights are the core components of our Corridor.ai system, 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                     [phone] 

Arden Partners (Broker)

Ruari McGirr / Ciaran Walsh [phone]

IFC Advisory Limited (Financial PR & IR)

Graham Herring / Zach Cohen [phone]

[e-mail]

[e-mail]

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

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January 06, 2020 04:14 ET (09:14 GMT)