Cordel lands major US rail contract to deploy AI and LiDAR technology

(Sharecast News) - Artificial intelligence platform operator Cordel Group has secured a new contract with a US Class I railroad, representing the third of seven Class 1 Railroads in North America who have selected Cordel.

Cordel said the project will be focused on validating private trust company asset management capabilities and LiDAR-based clearance assessments through real-world railroad operations.

As part of the project, Cordel rugged hardware, purchased by the railroad, will be installed on a geometry testing vehicle, with commissioning planned for the first quarter of 2026 during a scheduled maintenance window. Cordel said the initial phase includes capture of up to 3,000 miles of active rail network to support real-world operational validation.

The AIM-listed firm stated this will establish "a clear return-on-investment framework" to support the railroad's broader PTC workflow and inform evaluation of next steps.

Chairman Ian Buddery said: "We are delighted to announce our third Class 1 contract and our fourth major USA customer. In addition this win confirms the growing acceptance of our PTC solution, which has evolved quickly from conception to market launch and commercial contracts. Using our multimodal AI capabilities, we have created an advanced and cost-effective service which meets all the requirements of our customers."

As of 1155 GMT, Beeks shares were down 4.61% at 217.50p.

Reporting by Iain Gilbert at Sharecast.com