Proactive Investors - Run By Investors For Investors

Strat Aero flies higher on two new contract wins for Geocurve subsidiary

One of the contracts is with US engineering giant AECOM, which Start Aero hopes can become a long-term customer
drone
Geocurve is a specialist surveying company

Strat Aero PLC (LON:AERO) flew higher on Monday morning after announcing two new contracts wins for its Geocurve subsidiary.

Geocurve, a specialist surveying company, has been awarded an initial contract with hydraulic engineering group Hesselberg Hydro.

The contract is for an initial four months although there is the potential for it to be extended and additional services added further down the line.

READ: Strat Aero optimistic about 'strong new business prospects'

Geocurve is also carrying out a 3D survey of a large airstrip and associated infrastructure for US engineering giant AECOM. Strat Aero said it is hopeful that this initial project will lead to further and “more substantial” contracts in the future.

Gary Nel, managing director of Geocurve, said: “We are delighted to have been awarded this contract and are keen to build on this first survey with the new Leica Pegasus: Two scanners outside the TEAM2100 Thames project.

“We will be looking to secure many more of these types of surveys for AECOM.”

Strat Aero also revealed that Geocurve has developed a virtual reality suite in conjunction with Essex University.

With this resource, using UAV captured imagery, 3D models can be developed by geo-referencing and by stitching together many high-resolution images; a technique which has widespread potential usage in environmental and industrial applications.

Geocurve has already used this VR technology with a commercial client, with the results “significantly exceeding expectations”.

Strat Aero shares are up 6.5% to 1.22p on Monday morning.

View full RMS profile View Profile

Remote Monitored Systems Timeline

Related Articles

Wind turbines
November 06 2018
Formerly known as Strat Aero, the company is now focusing squarely on remote monitoring of rotating shafts after acquiring a controlling stake in software firm GyroMetric
Southend Airport
November 02 2018
Analysts at Canaccord Genuity and Stifel think Stobart offers attractive dividends with the company returning £63mln to shareholders in fiscal year 2018
Portfolio
November 05 2018
In early October, the company was presented with the ‘New to Market Award’ at the DIT Business Awards, an accolade that recognises its success in the country

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use