Journeo PLC (AIM:JNEO), the transport information systems specialist, has landed orders worth £4.2 million as part of a major refurbishment programme for 70 CrossCountry Voyager trains.
The orders are from Alstom SA and cover CCTV and passenger counting systems. It also expects to see additional revenue of around £2 million over five years, for associated SaaS services.
Journeo told investors that design and equipment delivery have begun, with installation support provided at Alstom’s Derby facility through to 2027.
“The application of Journeo's technology to help prolong the life of existing rolling stock, alongside its implementation on new trains, demonstrates the flexibility of our solutions and how their use can support sustainable rejuvenation of fleets,” chief executive Russ Singleton said in a statement.
“The installations are underpinned by Journeo's core IP, enabling the operator to manage operation-critical data, such as occupancy data and securely captured and stored high-definition CCTV evidence through the SaaS Journeo Portal."
In London, Journeo shares traded slightly higher up 2.4% changing hands at 298p, which values the business at around £50.5 million.