Last checked at 31 Jan 2022 07:00
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
31 January 2022
Journeo plc
("Journeo", "Company" or "the Group")
Rail systems framework services agreement
Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce a 3-year framework services agreement valued initially at £0.7m with GB Railfreight (GBRf) for the supply and support of high-definition forward facing video (FFV) systems connected over 4G to Journeo's cloud-based software and services.
Work has already commenced and £0.3m has been completed in 2021 for the design and installation of new FFV and remote management systems for 21 locomotives recently added to the GBRf Class 66 fleet, and replacement of existing FFV and associated on-board IT sub-systems for a further 78 locomotives. The 3-year support package is built around Journeo's secure cloud-based video management and remote condition monitoring SaaS platform.
With a total fleet of 149 locomotives and 1,400 wagons, GB Railfreight transports 22% of Britain's rail freight for customers such as Drax, Network Rail, EDF Energy, Crossrail, and many others, with 99% reliability. Since privatisation, GB Railfreight has grown to become one of the leaders in the industry by providing transport solutions for companies working in intermodal, biomass, infrastructure, petrochemical, construction and coal.
Journeo has previously supplied over 50 FFV systems to GBRf under a separate contract and once this new work is completed, 99 GBRf locomotives will have Journeo FFV and SaaS on-line. The framework services agreement provides GBRf with a mechanism to equip the remainder of the fleet and carry out additional systems integration or expansion over the three-year contract period.
Russ Singleton, Chief Executive of Journeo plc, commented: "We are delighted that GBRf are adopting our high-definition FFV system and secure, cloud-based SaaS solution as part of their commitment to the digital rail freight revolution. As drivers are often lone workers, rapid access to live and recorded footage is essential for incident and accident investigations. The solution that we provide ensures that freight operating companies like GBRf can securely and swiftly share vital evidential quality video and associated vehicle data with authorised third parties such as the British Transport Police."
A digital copy of this announcement will be available on the Group's website: www.journeo.com.
For further information, please contact:
Journeo plc Russ Singleton/ Nick Lowe | +44 (0) 844 871 7990 |
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WH Ireland - Nominated Adviser and Broker Mike Coe/ Sarah Mather | +44 (0) 207 220 1666 |
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Notes to editors:
Journeo plc is an information systems and technical services business focussed on public transport and related infrastructure within towns, cities, airports, and local authorities. The Company works extensively with local government departments, combined authorities, and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable smarter-cities future.
The business currently comprises two segments:
· Fleet operator solutions: CCTV video surveillance to improve passenger & driver safety, telematics for vehicle and driver performance monitoring, real-time communications for remote condition monitoring and automatic passenger counting.
· Passenger infrastructure solutions: design, manufacture, installation, and management of hardware and software for electronic public transport information systems, in and around towns, cities, ferry terminals and airports which includes smart-ticketing and wayfinding.
In the last few years, the Company has invested around £5m in research and development, enabling it to design and supply the very best solutions for customers' complex requirements and the demands of modern public transport. With an Internet of Things (IoT) approach and open standards, together with field-proven and reliable engineering, Journeo is able to offer flexible, scalable products and services that can integrate with existing technology while preparing for future advancements.
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