Maestrano subsidiary secures grant under Innovate UK project

29th Jun 2020 10:59

(Sharecast News) - Data management firm Maestrano has been awarded a £50,000 grant under the Innovate UK "Business-led innovation in response to global disruption" competition.
Maestrano said on Monday that its winning project, titled "Machine Learning to enable remote infrastructure inspection tools using new and existing imagery", will lead to 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.

The AIM-listed group intends to then output that data through its wholly-owned subsidiary, Corridor's Machine Learning systems.

Chief executive Andrew Pearson said: "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."

As of 1100 BST, Maestrano shares were up 28% at 4.80p.