Maestrano Group announces first paid project with Union Pacific Railroad
Maestrano Group, the transport analytics artificial intelligence technology company, has announced its first paid project with Union Pacific Railroad. The project is the second largest class 1 railroad in the United States by track miles.
Cordel Technology, the AIM-traded firm’s specialist rail analytics subsidiary, entered the North America market in May 2020. It established relationships and credibility with railroad companies and engineering service providers. Cordel said this is the first of several pilot projects, designed to demonstrate both the data capture process and AI analysis of the resulting digital point clouds.
The US railroad market was segmented into classes by revenue, with the seven Class 1 railroads being the trans-national heavy freight companies which own the majority of the 140,000 miles of track across the 48 mainland states. Class 2 regional railroads provide freight and passenger services intra-state, and Class 3 railroads are typically local lines serving a small number of towns and industries.
Chief executive officer at Maestrano Group, Nick Smith, said: “The US market represents over 38 percent of global expenditures on rail asset management.
“It has been a core focus for Cordel over the past year and we have moved from the proving to the early revenue stage. Whilst this has taken longer than expected, we are now positioned for a significant growth opportunity.”
Maestrano said a further pilot project was in progress with a major short line railroad holding company.
For more information visit www.maestrano.com
28th June 2021
