25 November 2020
Maestrano Group PLC ("Maestrano" or the "Company")
Maestrano announces contract extension and USA appointment
Maestrano Group PLC (AIM: MNO), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce two significant achievements.
On 6 January 2020 the Company announced the signing of a major contract with the ARTC rail network, for the scanning and analysis of their 8,500 Kilometre network, which provided for up to 36,500km of corridor scanning per year. On 6 July 2020, the Company announced that its corridor technology platform had received formal engineering acceptance. Today, with over 70,000kms scanned since January, Maestrano is proud to announce the contract has been extended in scope and value and that it is now contracted to through to 30 June 2023.
Secondly, the Company is delighted to announce the appointment of Mr Erik Henderson to the position of Global Head of Rail Solutions, based in Jacksonville, Florida. Mr Henderson is an expert in Rail robotics and automation. He was previously the Technical Director, GIS Field Services for CSX, a Class 1 freight railroad operating in the eastern United States and the Canadian provinces of Ontario and Quebec, with approximately 21,000 miles (34,000 km) of track.
Nick Smith, co-founder of Airsight and Vice President Sales for Maestrano, said,
"We continue to build on our excellent relationship with ARTC, expanding not only the frequency of network scans, but also the range of services and analytics delivered. We now have in place a customer-driven provisioning system, such that ARTC can configure and order the data collection and analysis they require. This is to our knowledge a world first and underpins the flexibility, value and rapid results we deliver."
Ian Buddery, Chair of Maestrano, commented:
"Securing Erik for our USA team is a major milestone for the Company. Erik brings not only a wealth of expertise but is also widely known throughout the US rail industry for his success implementing innovative solutions which improve safety and reduce cost for operators. His appointment significantly raises our profile in the US market and will contribute enormously to our future growth plans."
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.
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
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