TIDMJNEO
RNS Number : 6718M
Journeo PLC
25 January 2021
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
25 January 2021
Journeo plc
("Journeo" or "the Group")
Framework agreement contract extension
Journeo plc (AIM: JNEO), the information systems and transport
technical services group, is pleased to announce it has secured a
1-year extension to a framework agreement with First Bus UK ("First
Bus").
The extension, which will continue to March 2022, unless further
extended, is expected to generate GBP1.8m in revenues, and includes
the provision of systems and services for new and existing vehicles
along with a further 800 connections into Journeo's Software as a
Service application (SaaS).
Journeo's cloud-based software solutions and on-line services
are an example of the company contributing to its Corporate Social
Responsibility (CSR) and sustainability commitments by helping to
make the world a greener place.
The Journeo Remote Condition Monitoring (RCM) software, with
machine learning is able to identify and correct an increasing
range of on-board issues automatically, thereby reducing the
frequency of maintenance visits, along with the associated mileage
related pollution and costs.
Journeo's Agnostic Video Management Software (AVMS) further
reduces the costs and carbon footprint for public transport
operators, as they can access important situational awareness
images and sounds remotely and securely, reducing the need in many
cases, to visit vehicles for video download, insurance assessments
or legal evaluation following collisions, or other incidents.
Framework Agreement
Journeo have been providers of safety critical CCTV and related
on-board and depot-based IT sub-systems to First Bus through a
series of framework agreements since 2010.
During the current 5-year framework agreement announced on 19th
August 2016 approximately 1,000 systems have been installed on new
buses and over 2,000 vehicles are connected to Journeo's
cloud-based SaaS applications, ensuring high levels of performance
and reliability are maintained whilst helping to protect
passengers, drivers, and members of the public.
First Bus
First Bus are one of the largest bus operators in the UK, with
approximately 5,200 buses serving 40 of the UK's largest towns and
cities, including two thirds of the UK's 15 largest conurbations.
Last year they provided 500 million passenger journeys and operate
around 20% of local bus services in the GBP4.2bn deregulated market
outside London. Since 2010 they have invested in more than 2,000
new buses, helping to improve punctuality, fuel and cost efficiency
and reduce environmental impacts.
Russ Singleton, CEO of Journeo plc, said:
"We are delighted to be continuing the long-standing
relationship as technical services provider with First Bus through
this framework contract extension, where we will be supplying CCTV
and associated onboard IT sub-systems and Smart-Vision digital
wing-mirror technology. In addition, a further 800 buses are to be
connected into the Journeo cloud-based SaaS application, placing
First Bus amongst the market leaders in real-time remote condition
monitoring and cloud-based video management.
Whilst the last 12-months have been particularly challenging for
many public transport operators, and transport infrastructure
providers, our innovative solutions, services and software are
helping to deliver valuable efficiency gains and cost reductions
for our customers in preparation for market recovery following the
UK wide vaccination programme".
A digital copy of this announcement will be available on the
Groups' website: www.journeo.com .
For further information, please contact:
Journeo plc
Russ Singleton/ Nick Lowe +44 (0) 844 871 7990
WH Ireland - Nominated Adviser and Broker
Mike Coe/ Chris Savidge +44 (0) 117 945 3470
Communications Portfolio
Ariane Comstive +44 (0) 7785 922 354
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 GBP5m 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.
- Ends -
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