LONDON - 1Spatial, the AIM-listed company specializing in Location Master Data Management (LMDM) software, is experiencing increased demand for its AI-powered applications within the utility sector, with new customer acquisitions in the UK and ongoing expansion in international markets. The company's recent deals, each valued up to £0.3 million, underscore the sector's shift towards digital transformation.
CEO Claire Milverton highlighted the significance of these developments, stating that the adoption of 1Spatial's AI solutions is a testament to their effectiveness in addressing the critical challenges faced by utility companies. The AI applications are facilitating a transition to digital operations, which includes the use of machine learning, digital twins, and preventative measures.
The company's Pipe Inference solution has been particularly successful, with two new large UK water companies joining the ranks of its users, bringing the total to four. The application employs spatially enabled machine learning to map previously undocumented wastewater connections, a problem UK water companies have grappled with since 2011. The solution's ability to accelerate network mapping, improve data quality, and reduce operational costs has been a key factor in its adoption.
Additionally, 1Spatial's Utility Network Migration application has gained four new customers in the past six months. This tool uses rules-based AI to assist utility companies in the UK, USA, and Australia with validating data accuracy and migrating to a Utility Network Model. An example of its efficiency is evident at the Holland Board of Public Works in Michigan, USA, where what was an eight-week data migration process for one substation was reduced to an average of two weeks for the remaining substations using 1Spatial's application.
The company's "Land and Expand" strategy within its Enterprise business is credited for driving organic growth and supporting the sector's digital transformation. As utility organizations worldwide continue to evolve into digital entities, 1Spatial's AI-powered software is becoming increasingly integral to this progression.
This report is based on a press release statement from 1Spatial plc.
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