Wavetrain Systems AS (Wavetrain), a subsidiary of Nordic Technology Group AS (NTG), has for some time had an application process for Type Approval from Network Rail in UK for Wavetrain Overlay Miniature Stoplight Crossing (OMSL) system. The OMSL system integrates Wavetrain’s previously product-accepted Level Crossing Warning System (LCWS), based on acoustic train detection, with Miniature Stop Lights and audible warning devices to provide clear visual and audible warnings to users when unsafe to cross.
Following the completion of an independent review according to Common Safety Method Risk Evaluation and Assessment (CSM-RA), Network Rail has provided Wavetrain a draft version of the Certificate of Acceptance. Furthermore, Network Rail has informed Wavetrain that an executed version of the Certificate is expected to be issued soon. The draft states that the Certificate authorises a monitored operational trial of a single-track configuration at Colliery footpath level crossing, leading to full operation for public use.
While receipt of the draft Certificate is a significant milestone, the Certificate of Acceptance is not formally granted until signed and issued by Network Rail.
Wavetrain Systems meets strict safety requirements, can be delivered at competitive cost, and can be fully installed in hours.
In addition to the UK, Wavetrain has received strong interest and is in active customer processes with national railway companies in several countries, including Ireland, Austria, Sweden and Australia.
Upon receipt of the executed Certificate of Acceptance from Network Rail, NTG will provide more details in an updated stock exchange release.
About Wavetrain Systems AS
Wavetrain Systems AS, part of Nordic Technology Group AS (NTG), delivers patented, AI-powered acoustic detection technology designed to enhance safety at level crossings. Our solutions are certified to CENELEC SIL2 standards and have been tested extensively to meet stringent railway requirements. Our aim is to safely reduce risk at level crossings in an affordable and efficient way in the global market.
Contact information:
| Group CEO Rune Rinnan Chair, Wavetrain Systems AS Mob. +47 900 56 028 rune.rinnan@ntechgroup.no www.ntechgroup.no | CEO Pål E Bratlie Wavetrain Systems AS Mob. +47 930 57 243 pb@wavetrain.no www.wavetrain.no |
This information is considered to be inside information for Nordic Technology Group AS pursuant to the EU Market Abuse Regulation (MAR) article 7 and is subject to the disclosure requirements pursuant to MAR article 17.