MNO Maestrano Group Plc

TIDMMNO

RNS Number : 0733S

Maestrano Group PLC

11 November 2021

11 November 2021

Maestrano Group PLC

("Maestrano" or the "Company" or the "Group")

New Contract

Maestrano Group PLC (AIM: MNO), the Artificial Intelligence platform for transport corridor analytics, announces the awarding of a new contract by Secure Energy to its wholly owned subsidiary, Airsight Australia Ltd ("Airsight").

Airsight will provide a drone-based survey for the new 700km transmission line extending from Wagga Wagga in New South Wales to the South Australian border. The line is part of TransGrid's EnergyConnect project and part of Australia's transition to renewable energy. TransGrid is the manager and operator of the high voltage electricity transmission network in New South Wales.

The contract will run to 2025 with initial pre-built ground surveys beginning in 2022. Airsight will conduct high detail surveys of the transmission line as it is being built. The surveys will improve safety for Secure Energy staff working in remote and dangerous conditions, with significant cost savings compared to traditional survey methods such as more expensive manned aircraft surveys or manual surveys done on foot.

SecureEnergy is a joint venture between Elecnor, a leading European construction and operation company and Clough Group, an Australian company delivering sustainable high performing assets for the infrastructure, resources, and energy industries.

Ashley Cox, COO of Maestrano, said: "Airsight is seeing growing interest from the energy sector as investment in new renewable energy infrastructure increases. This contract will also be our first project using the new Nextcore Lumos LiDAR sensor, which enables faster surveying with higher accuracy."

Nick Smith, CEO, Maestrano, said: "We are pleased with the continued success of Airsight and the combination of Nextcore and Cordel technology to deliver complex requirements. This project is a result of our emphasis on securing multi-year contracts to enable stable and predictable long term revenue."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
 Maestrano Group PLC                              c/o SEC Newgate 
 Ian Buddery, Chairman 
  Nick Smith, CEO 
 Arden Partners (Broker and Nominated Adviser)    +44 (0)20 7614 5900 
 Ruari McGirr / Richard Johnson 
 SEC Newgate (Financial PR)                       +44(0) 7540 106366 
 Robin Tozer / Bob Huxford / Tom Carnegie         maestrano@secnewgate.co.uk 
 

About Maestrano

Maestrano offers a patented cloud-based platform for master data management and specialist hardware and software for capturing, analysing and reporting on large datasets within the transport sector, employing sophisticated artificial intelligence algorithms.

Further information on the Company is available at: www.maestrano.com

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END

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(END) Dow Jones Newswires

November 11, 2021 02:04 ET (07:04 GMT)

Maestrano (LSE:MNO)
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Maestrano (LSE:MNO)
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