Tracsis, which offers products and services for the transportation industry, is expanding its North American pilot to include a further six sites in the US.
Spun out of Leeds University and commercialised by IP Group, Tracsis focuses on software for data capture, reporting and optimising resources. It also provides a range of professional services to go along with its software.
The spin-out began its pilot in November 2013, when it was looking at licensing its so-called Remote Condition Monitoring technology and associated software to an undisclosed North American Class I railroad. The initial pilot included five locations. A class I railroad is defined as one with an annual operating revenue of more than $250m, of which there are currently 11 in North America.
Tracsis has been trading on the London Aim since 2007 and has offices in the UK and Australia, with projects spanning Europe and Australasia. In the UK, the company has contracts with a majority of both rail and coach companies, including Arriva, First, Stagecoach, Go-Ahead, National Express and Virgin. Tracsis also has a close relationship with Network Rail – the owner of most rail infrastructure in Great Britain (exluding London Underground) – the Department of Transport, multiple local authorities, and a range of engineering and infrastructure companies.
The financial size of the potential North American deal remains undisclosed.
John McArthur, chief executive officer at Tracsis, said: “The extension of this pilot to a further six sites is a very positive endorsement of the Tracsis offering and a logical next step as our client gains confidence in the technology and the benefits it provides. We hope that this will pave the way for further successes within the US as our footprint into this territory grows.”
