20 July 2021
Maestrano Group PLC
("Maestrano" or the "Group")
Maestrano awarded Australian Northern Territory contracts
Subsidiary Airsight will work in partnership with indigenous company IMECNT
Partnership is also preparing additional proposals for work on other projects in the region
Maestrano Group PLC (AIM: MNO), the artificial intelligence platform for transport corridor analytics, is pleased to announce that its specialist geospatial solutions subsidiary, Airsight has been awarded two new contracts by the Australian Northern Territory Government. The expected return for Airsight from both contracts is AUS$218,000.
The contracts have been awarded to conduct two large rural road surveying projects in the Northern Territory, and the projects will be utilising light detection and ranging ("Lidar") technology provided by Maestrano's other subsidiaries, Cordel and Nextcore. The two projects start this July and are part of major highway upgrades planned in the Northern Territory.
The first four-month project is to survey the 380km Carpentaria Highway, which runs from near Daly Waters to Borroloola in the Northern Territory, Australia. The second three-month project is to survey Port Keats Road which extends for 178km across the northwest of the Northern Territory, from the Daly River Bridge Crossing near the community of Nauiyu to Wadeye.
On both projects, Airsight will be working in partnership with Indigenous Mining & Energy Consultants NT Pty Ltd ("IMECNT"). IMECNT provides a pathway for local and indigenous Australians in Northern and Central Australia to enter the mining, energy, and construction industries. In February 2021, the partnership successfully delivered the Tanami Road survey in the Yuendumu region of the Northern Territory, as part of a preliminary trial by the Northern Territory Government. The IMECNT and Airsight partnership is preparing additional proposals for work across the northern half of Australia.
These contracts further underline the Group's strong and growing market position in Australia. The Group and its subsidiaries are working on projects with Australian Rail Track Corporation rail network, with a 3.5 year contract to provide automated monitoring services across 50,000 miles of railway per year.
Nick Smith, CEO, Maestrano, said: "These are exciting new contracts, and we are delighted to be working in partnership with IMECNT. This builds on our successful trial together earlier this year, showcasing our partnership strategy and how we can expand the regions and industries we work in. Furthermore, this is another successful deployment of our "as a service" technology solution, providing a game changing moment for the management of remote road projects where speed, accuracy and the ability to automate data acquisition and processing is critical."
Ian Buddery, Chair of Maestrano, commented: "The Board is delighted to see our successful rail corridor technologies now being applied to road infrastructure in Australia. Each new project advances our machine learning algorithms, and will enable us to extend our reach to other road markets around the globe."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Maestrano Group PLC
c/o SEC Newgate
Ian Buddery, Chairman
Nick Smith, CEO
Arden Partners (Broker and Nominated Adviser)
+44 (0)20 7614 5900
Ruari McGirr / Richard Johnson / Akhil Shah
SEC Newgate (Financial PR)
+44(0) 7540 106366
Robin Tozer / Bob Huxford / Tom Carnegie
Maestrano offers a patented cloud-based platform for master data management and 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