Corridor name change to Cordel

18 November 2020

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

Corridor name change to Cordel

Maestrano Group PLC (AIM: MNO), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce that it is changing the name of its Corridor subsidiaries, products and website to Cordel.

This name change will support the continuing expansion of our inspection automation business into international markets.  The new website for the division is www.cordel.ai

The name change was necessary to secure trademarks in the USA and internationally and to avoid conflict with existing trademarks.

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

"The name Cordel ("Corridor" plus "delta") reflects our business on two important levels.  First, on a practical level, we deliver insights to our customers about changes occurring within their corridors. Second, our novel end-to-end approach to automated asset inspections is fundamentally changing what's possible in the realm of corridor inspections.

Cordel's technology enables railroad operators to inspect their entire networks more frequently than ever before, in near real-time, and at a lower cost. We make this possible using an end-to-end approach, which includes: mounting modern low-cost LiDAR and video sensors on in-service trains; employing an automated data processing pipeline to handle massive volumes of data, and start-of-the-art railroad-specific machine learning algorithms to derive intelligent and actionable insights from the data. Results are delivered to customers in a configurable web application."

Ian Buddery, Chair of Maestrano, commented:

"Cordel's global expansion is driven by increasing demands on transport infrastructure, demanding greater focus on reducing inspection costs and maximising revenue operations. Cordel is revolutionising the way our rail customers manage their assets. They are achieving deeper insights into their networks and reducing the impact of lost time for inspections."

Enquiries:

Maestrano Group plc

Ian Buddery, Chairman                                                                           c/o Arden Partners

Grant Thornton (Nominated Adviser)

Colin Aaronson / Jamie Barklem / Niall McDonald                            +44 (0)20 7383 5100

Arden Partners (Broker)

Ruari McGirr / Ciaran Walsh                                                                  +44 (0)20 7614 5900

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