Strat Aero PLC Geocurve awarded £1.1m 3D and VR survey Contract (3019E)

TIDMAERO

RNS Number : 3019E

Strat Aero PLC

08 February 2018

Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services

Strat Aero plc

Geocurve awarded GBP1.1m 3D and Virtual Reality survey contract

Strat Aero is pleased to announce that its wholly owned Geocurve subsidiary has been awarded a contract to provide an innovative technology-based 3D and Virtual Reality survey service for the Environment Agency's Thames Estuary Asset Management 2100 (TEAM2100) programme. This reflects Geocurve's continuing transition to becoming an industry leader as a specialist technology-based UK provider of data rich surveying services including multi-sensors and data analytics to create 3D mapping and Virtual Reality (VR) imaging.

The contract award to Geocurve follows the successful completion of a 'proof of concept' trial in which Geocurve proposed and demonstrated an innovative solution to deliver a 3D survey of the entire Thames defence and foreshore. The contracted surveys will use Geocurve's full surveying and data analytics skill set and the latest technology comprising innovative mobile multi scanners and sensor platforms that capture a full 360deg spherical view of image data as well as LiDAR data. This will enable a full 3D mapping and Virtual Reality representation of the River Thames.

The contract initially provides a fixed revenue of GBP1.1m over three years, with work beginning within the current quarter.

Trevor Brown, Executive Director of Strat-Aero, said "With this contract win Geocurve has demonstrated its potential to become a UK market leader in the supply of virtual reality and artificial intelligence surveying services to specialist customers on critical projects such as the Thames flood defences. Geocurve's use of innovative technology gives it the potential to transform the nature of surveying."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement may have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

- ENDS -

For further information please visit www.strat-aero.com or contact:

 
 Strat Aero plc                   Tel: +41 7941 55384 
 Trevor Brown (Director) 
 SP Angel Corporate Finance LLP   Tel: +44 (0) 20 3470 
                                   0470 
 Nominated Adviser and Joint 
  Broker 
 Stuart Gledhill 
  Jeff Keating 
  Caroline Rowe 
 Peterhouse Corporate Finance     Tel: +44 (0) 20 7469 
                                   0930 
 Joint Broker 
 Lucy Williams 
  Fungai Ndoro

Notes

As of 18 December 2017, CH2M has been acquired by Jacobs creating $15 billion professional services leader providing consultation, design and construction services.

TEAM2100 is delivering the first 10 years of capital investment in the tidal flood defences of the Thames Estuary as recommended by the Thames Estuary 2100 Plan. TEAM2100 aims to reduce the risk of tidal flooding to approximately 1.3 million people and GBP275 billion worth of property by replacing and refurbishing the tidal flood defences. The TEAM2100 delivery team is an integrated and co-located team of Environment Agency, CH2M, Balfour Beatty and key supply chain partners including Geocurve, and was established in 2014. The GBP300 million programme covers the tidal flood defences of the Thames estuary between Teddington in the west and Shoeburyness in Essex, and the Isle of Grain in Kent.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 08, 2018 04:10 ET (09:10 GMT)

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