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(Sharecast News) - Transport technology group Journeo said on Wednesday that its Danish subsidiary has been awarded a contract worth a minimum of 1.2m with Umove, Denmark's largest privately owned public transport operator.
Under the contract, Journeo will deliver a wide range of its intelligent transport systems and services on approximately 100 buses, including passenger counting, real-time information, fleet management and infotainment software, voice-over IP communications and an AI-powered driver awareness system.
Engineering and installation work worth approximately 800,000 will start later in FY25, prior to the buses entering revenue service in June 2026.
The AIM-listed group noted that software licenses and recurring monthly software-as-a-service and service level agreement revenues were expected to generate a further 400,000 during the first three years of the contract.
Chief executive Russ Singleton said: "I am delighted that Umove have selected our technology, software and services for the electric buses that will operate in the central region of Jutland. This award builds on the existing relationship with Umove where our Danish team already provide similar services on over 500 Umove vehicles".
As of 0840 BST, Journeo shares were up 1.02% at 409.15p.
Reporting by Iain Gilbert at Sharecast.com
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