Maestrano secures new contract with Network Rail High Speed

Maestrano said the five-month proof of concept contract had been awarded to its specialist rail analytics subsidiary, Cordel, and would determine the suitability of its technology for monitoring the NRHS's overhead line, vegetation, ballast profiles, track and passing clearances.

The AIM-listed firm added that as part of the contract, Cordel hardware, including the Cordel LiDAR scanner and machine vision cameras, would be mounted on a multi-purpose rail vehicle

Chairman Ian Buddery said: "This new contract proves yet again the value and effectiveness of our technology within the UK Rail industry. The data we collect is enabling train companies to be much more efficient, transforming the way they work.

"Each new project advances our Machine Learning algorithms, extends our worldwide competitive advantage, and highlights the growth opportunity we have."

As of 1150 BST, Maestrano shares were up 3.91% at 11.95p.