North East technology company Petards has had its order book bolstered to £12.3m after securing two lucrative deals in a week for its high-tech train security and surveillance systems.
The Gateshead AIM listed software developer has announced this morning, October 21, that it has been awarded a contract to supply Bombardier Transportation with its eyeTrain systems - a series of CCTV systems that are built into trains’ infrastructure to help monitor and analyse all aspects of journeys in real time.
The new contract, which will see the systems fitted to the Bombardier Electrostartm Electrical Multiple Unit (EMU) trains, forms part of a £55m upgrade programme with train owner Porterbrook and train operator Govia Thameslink Railway (GTR).
The upgrade will further enhance the trains’ video and data collection capability, by adding track debris/third rail cameras throughout the fleet.
The work starts straight away with the first equipment deliveries starting early next year and ending in early 2023.
Petards Chairman Raschid Abdullah said: “We are delighted that Petards’ eyeTrain systems continue to be the system of choice for fitment to Bombardier’s trains.
"This new order adds to our already significant installed base and strengthens our position as the leader of on train video and data solutions.
“Additionally it further bolsters the group’s present order book to £12.3m of which £6.9m is scheduled for delivery in 2021.”
The contract win comes a week after the Team Valley employer announced a £1.3m contract to supply Porterbrook Maintenance Limited with the eyeTrain systems.
The tech is set to be fitted on the UK’s first tri-mode trains – the 19 Class 769 Flex trains – which are capable of running on overhead and third rail electric lines as well as under their own diesel power. The trains will be operated by Great Western Railway and are expected to be introduced on services running between Reading and Gatwick next year.
The firm will start that contract during the first quarter of 2021.
Petards Chairman Raschid Abdullah added: “We are delighted that Petards has been selected by Porterbrook and Great Western Railway to work with them on this exciting first UK tri-mode trains project. This new contract provides us with a strong start to 2021 and builds upon our order book.”
Last month Petards released its interim results for the six months to June 30 2020, which showed revenues for the period fell from £8.85m to £7m.
Directors said its eyeTrain revenues had been impacted by the Covid-19 pandemic but that all other group operational performances were ahead of the comparable period last year.
