Maestrano secures contract with Australian rail company

AIM-listed Maestrano has won a new contract with a "major" Australian rail company.

The Artificial Intelligence platform for transport corridor analytics said on Monday that its subsidiary, Airsight, had recently secured a new contract with the Australian Rail Track Corporation (ARTC).

ARTC is a Government of Australia owned statutory corporation, which manages most of Australia's interstate rail network, 8500 kilometres in length across five states.

Maestrano did not disclose any financial details but said Airsight will install its Corridor Insights LiDAR (Light Distance and Ranging) plus high-resolution camera equipment onto an ARTC data collection rail car, for the purpose of collecting accurate digital imagery and a "point cloud" of the rail network.

This data will be processed by the Corridor Insights Artificial Intelligence platform to measure encroachment and extract and match network assets, such as trackside equipment.

Nick Smith, co-founder of Airsight and vice president of sales for Maestrano, said: "We are excited to announce this contract, which features our industry-leading NextCore LiDAR systems and our Corridor Insights AI platform for automated asset management in rail corridors.

"Together as Corridor.ai, the platform generates ongoing recurring revenue from the per-kilometre analysis of rail corridor data. ARTC is an existing client for other Airsight services, however this is their first contract for Corridor.ai and our largest deployment to date."