Cordel has secured a 5-year contract with one of the leading US Class 1 freight railroads worth up to $7.5m, underpinning unchanged forecasts. The contract is initially worth $3.7m ($740k/year) for multiple LiDAR capture units and a Cordel Connect platform to manage data across the full network and includes a further $3.8m provision for its new Positive Train Control (PTC) asset management platform ahead of July’s launch. This encouraging update validates, for the first time, commerciality of R& ....
