Maestrano Group PLC Innovate UK Network Rail Competition Win (0091R)
June 25 2020 - 2:00AM
UK Regulatory
TIDMMNO
RNS Number : 0091R
Maestrano Group PLC
25 June 2020
25 June 2020
Maestrano Group PLC ("Maestrano" or the "Company" or the
"Group")
Maestrano wins Innovate UK - Network Rail competition
Maestrano Group PLC (AIM: MNO), the machine learning platform
for transport corridor asset monitoring, announces that its wholly
owned subsidiary Corridor Technology Limited has been selected for
a fully funded trial of its automated rail corridor gauging
technology for Network Rail.
The trial has been awarded as a result of a Small Business
Research Initiative (SBRI) competition in conjunction with Network
Rail.
SBRI is a programme delivered by Innovate UK, which brings
together government challenges and ideas from business to create
innovative solutions. Innovate UK is part of UK Research and
Innovation (UKRI), the national funding agency investing in science
and research in the UK.
Network Rail brought to SBRI the problem of accurate gauging -
measuring the location and encroachment of vegetation and masonry
in rail networks. Corridor Technology will automatically analyse
digital point cloud data (Lidar) captured by Network Rail, using
its cloud-based Machine Learning platform - developed and
successfully applied on Australian and Japanese railways.
Nick Smith, Vice President Sales for Maestrano , said,
"This project will enable Network Rail to benefit from our
mature core technology. We will undertake the R&D required on
top of our existing platform to create a bespoke application for
them, working alongside Network Rail staff and their advisors to
develop, test and demonstrate the modifications needed to meet
their requirements.
This project should expedite commercial implementation so that
Network Rail can benefit from radically quicker processing times to
obtain actionable and timely gauging information.
Automating gauging data processing should also improve rail
workers' safety by reducing the need for (and frequency of)
boots-on-the-tracks inspections; and improve flexibility for train
operators and other Network Rail customers (and therefore railway
passengers and freight users), by enabling faster and more accurate
scenario testing."
Andrew Pearson, CEO of Maestrano, commented:
"We are delighted and proud to have been awarded this contract
and are excited to commence our first Corridor Technology project
in the UK."
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 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
machine learning algorithms.
Further information on the Company is available at:
www.maestrano.com
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END
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