Maestrano subsidiary secures grant under Innovate UK project
Cordel Group
7.12p
10:50 10/01/25
Data management firm Maestrano has been awarded a £50,000 grant under the Innovate UK "Business-led innovation in response to global disruption" competition.
FTSE AIM All-Share
719.41
11:50 10/01/25
Software & Computer Services
2,574.57
11:50 10/01/25
Maestrano said on Monday that its winning project, titled "Machine Learning to enable remote infrastructure inspection tools using new and existing imagery", will lead to the development of a fully standardised imagery and video data review system to allow asset inspectors in road, rail and energy corridors to review remote condition monitoring data.
The AIM-listed group intends to then output that data through its wholly-owned subsidiary, Corridor's Machine Learning systems.
Chief executive Andrew Pearson said: "Coming on the heels of our Network Rail/SBRI win, this project will further accelerate our product development for the UK and global rail network asset management industry.
"Although smaller in value, this grant will nevertheless result in a new and important capability for our platform."
As of 1100 BST, Maestrano shares were up 28% at 4.80p.