LONDON (ShareCast) - (Sharecast News) - Software firm 1Spatial said on Monday that it has secured a £1m software-as-a-service contract with UK Power Networks, enabling use of the 1Streetworks platform over the next 15 months, with a one-year extension option.
Over the past year, 1Spatial said it had engaged with UK Power Networks "to realise significant benefits" from automating the production of a proportion of its traffic management plans, diversion routing and asset inventory lists.

The AIM-listed group stated that over the next 15 months, the roll-out of 1Streetworks was expected to be used to plan and initially deliver up to 30% of UK Power Networks' works, extending use of the platform both geographically, across London, the South East and the East of England, as well as into new teams, looking at network faults and reactive works.

Chief executive Claire Milverton said: "We are proud UK Power Networks have recognised the significant efficiency savings, improved customer services and a reduction in road closures that can be achieved. We look forward to continuing to work with UK Power Networks to unlock further value across their network.

"This clear commercial validation and growing industry awareness is supporting a steadily growing pipeline, which we are focused on converting."

As of 0905 BST, 1Spatial shares were up 5.75%% at 50.76p.







Reporting by Iain Gilbert at Sharecast.com

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