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On June 2, 2025, Cordel Group PLC announced a new 5-year contract with a Class 1 freight railroad in the United States. The base contract value is over US$3.7 million and includes an additional US$3.8 million provision for Cordel's PTC Asset Management SaaS, following its anticipated launch in July. Cordel will deliver its full suite of rail corridor data capture, processing, and delivery, including annual analysis of the client's complete network.
| Date | 2 Jun 2025 |
| Time | 07:00:09 |
| Category | Corporate updates |
| ID | 8951K |
2nd June 2025
Cordel Group PLC
("Cordel" or the "Company" or the "Group")
Cordel Announces New USA Class 1 Contract
Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce a new 5 year term contract with one of the leading Class 1 freight railroads in the United States. The agreed full term base contract is for over US$3.7m and includes an additional US$3.8m provision for Cordel's latest PTC Asset Management SaaS following its anticipated launch in July.
Cordel will deliver its full suite of capture, processing and delivery of rail corridor data and insights. The client's complete network will be captured and analysed on an annual basis, utilising Cordel's unique ability to deliver significant volumes of processed rail corridor data at high frequency with high levels of accuracy.
Cordel will supply multiple Rugged LiDAR capture systems, which will reside semi-permanently on existing rail-bound geometry vehicles, for automated upload and processing. Cordel's proprietary AI will classify processed outputs to include identification of Rail Heads, Ballast, Vegetation, Structure, Platforms and Overhead Line Equipment.
Cordel Connect, the rail-centric data insights platform, will deliver consistent data to enterprise stakeholders and departments.
John Davis, CEO of Cordel, commented:
"We are delighted to announce our second Class 1 multi-year contract and our third major USA customer, alongside Amtrak and Genesee & Wyoming. The world's best railroads are choosing Cordel because of our complete solution: industry leading data management, multimodal AI and automated insights and visualisation. While economic uncertainty is currently extending decision cycles, we are confident in our strategy and long term growth trajectory."
Enquiries:
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Cordel Group PLC |
c/o Cavendish Capital Markets Limited |
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Ian Buddery, Chairman John Davis, CEO |
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Cavendish Capital Markets Limited, Broker |
+44 (0)20 3829 5000 |
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Marc Milmo (Corporate Finance) Sunila de Silva (Corporate Broking) |
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Strand Hanson Limited, Nominated Advisor 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
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.