Maestrano Group PLC Maestrano wins Innovate UK grant (2999R)
June 29 2020 - 2:00AM
UK Regulatory
TIDMMNO
RNS Number : 2999R
Maestrano Group PLC
29 June 2020
29 June 2020
Maestrano Group PLC ("Maestrano" or the "Company" or the
"Group")
Maestrano wins Innovate UK grant
Maestrano Group PLC (AIM: MNO), the machine learning platform
for transport corridor asset monitoring, announces that it's
wholly-owned subsidiary Corridor Technology Limited has been
awarded a GBP50K grant under the Innovate UK "Business-led
innovation in response to global disruption" competition.
The aim of this competition is to support UK registered
businesses to focus on emerging or increasing needs of society and
industries during and following the Covid-19 pandemic. By
fast-tracking innovation, the UK will be better placed to maintain
employment levels, a competitive position in global markets and
make the UK more resilient to similar disruption.
The winning Corridor project is titled "Machine Learning to
enable remote infrastructure inspection tools using new and
existing imagery" and entails the development of a fully
standardised imagery and video data review system to allow asset
inspectors in road, rail and energy corridors to review remote
condition monitoring data (RCM), output from Corridor's Machine
Learning systems.
Nick Smith, Vice President Sales for Maestrano , said,
"This project will result in a new web-based review system which
will simplify the presentation of results from our existing Machine
Learning platform, enabling inspectors to do their work from any
web-connected device and improve the accuracy and capacity of asset
inspections."
Andrew Pearson, CEO of Maestrano, commented:
"Coming on the heels of our Network Rail/SBRI win, this project
will further accelerate our product development for the UK and
global rail network asset management industry. Although smaller in
value, this grant will nevertheless result in a new and important
capability for our platform. "
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Maestrano Group plc
Andrew Pearson, CEO c/o Arden Partners
Grant Thornton (Nominated Adviser)
Colin Aaronson / Jamie Barklem / Niall McDonald +44 (0)20 7383 5100
Arden Partners (Broker)
Ruari McGirr / Ciaran Walsh +44 (0)20 7614 5900
About Maestrano
Maestrano offers a patented cloud-based platform for master data
management and business analytics, together with specialist
hardware and software for capturing, analysing and reporting on
large datasets within the transport sector, employing sophisticated
machine learning algorithms.
Further information on the Company is available at:
www.maestrano.com
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END
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