1Spatial PLC - Cambridge, England-based data management software company - Reports ‘growing traction within its Enterprise business for its AI-supported applications’, including ‘increased interest in recent months’ for its Pipe Inference solution and its Utility Network Migration application. Says the former was recently adopted by two large UK water companies, bringing total customers to four, and discussions are ongoing with other potential clients. The latter has attracted four customers in the utility sector in the last six months, and 1Spatial says that ‘we continue to build on our pipeline of opportunities’. The contracts are worth up to around £300,000 in total.

Chief Executive Officer Claire Milverton says: ‘The growing traction for our AI-powered solutions across the utility sector globally reflects the success of our powerful software in meeting our customers’ most pressing problems. Utility organisations are increasingly transforming into digital organisations with machine learning, digital twins and preventative action being common practice and 1Spatial’s AI-powered software is key to this.’

Current stock price: closed 1.5% higher at 70.00 pence each on Friday in London

12-month change: up 47%

Copyright 2024 Alliance News Ltd. All Rights Reserved.