Source - LSE Regulatory
RNS Number : 0993U
Maestrano Group PLC
27 July 2020
 

27 July 2020

 

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

USA Distributor Appointment and Meitetsu Update

 

Maestrano Group PLC (AIM: MNO), the Artificial Intelligence platform for transport corridor analytics, announces the appointment of a distributor in the USA and an update on its contract with Meitetsu in Japan.

 

Nextcore, a subsidiary of Maestrano Group PLC, designs and manufactures a lightweight UAV (drone) based LiDAR (Light Direction and Ranging) unit under the model name RN50, which is used by digital survey companies worldwide and is sold via a network of specialist distributors.

 

USA Distributor Appointment

 

Nextcore is delighted to announce the appointment of MODUS as its first North American distributor.  MODUS is a pioneer in military and commercial remote sensing drone technologies and a leading solution provider to the surveying, construction, forestry, environmental management and mining industries.  Further information on MODUS can be found at www.modus-ai.com

 

Ashley Cox, Chief Operating Officer for Maestrano, said, "We have focused on growing the Nextcore distributor base around the world, to increase sales. The UAV based Lidar unit, the RN Series, is gaining a reputation as a high performance, reliable and low-cost system.  We are excited by the partnership with Modus-ai and the opportunities it will bring." 

 

Nextcore's distribution network has expanded significantly in 2020, with new agreements with Marvel Geo-spatial in India, Intec in Malaysia, Skymec in Russia and D1 Store in Australia.  Further information on Nextcore can be found at www.nextcore.co

 

Meitetsu Update

Maestrano's subsidiary, Corridor Technology, has successfully completed Phase 1 and 2 of the Meitetsu paid pilot project announced on 15 January 2020.  The customer has approved progression to a new Phase 3 with an increased scope and term. The requirements definition has been refined and Corridor Technology will create an additional four Machine Learning models and deploy these during Phase 3 of the project.

Nick Smith, Vice President Sales for Maestrano, said,

"We are making excellent progress working with Meitetsu and the evolution of our Machine Learning platform in the Japanese rail network environment.  It has been particularly pleasing to see the applicability of developments from Australia and the UK in Japan and vice versa."

 

 

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)

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


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCDXGDRDUDDGGL
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.