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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.

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