22 February 2024 1Spatial plc ("1Spatial", the "Group" or the "Company") UK Power Networks selects 1Streetworks software to revolutionise streetworks planning 12-month contract signed for pioneering SaaS product
Growing pipeline of 1Streetworks opportunities
Addressable market for 1Streetworks in the UK of £400m for low-speed roads alone
1Spatial, a global leader in Location Master Data Management (“LMDM”) software and solutions, isdelighted to announce that, following conclusion of a successful trial, it has signed a 12-monthcontract with UK Power Networks, for its Traffic Management Plan Automation (“TMPA”) solution,under the 1Streetworks brand in the UK (“1Streetworks”). The contract will deliver a minimum of£0.34m of SaaS revenue.
The 1Streetworks’ cloud-based SaaS solution is the first solution in the market to fully automate theproduction of traffic management plans, diversion routing and asset inventory lists and has thepotential to fundamentally change the industry.
There are over 2.5 million low-speed road works undertaken in the UK per year. This is estimated togrow to four million in coming years leading to a total annual addressable market opportunity in theUK of approximately £400 million.
UK Power Networks
UK Power Networks has 190,000km of cables and delivers thousands of streetworks every year acrossLondon, the South-East and East of England, to maintain safe and reliable power supplies to 19 millionpeople.
UK Power Networks successfully used 1Streetworks software in a Surrey trial to quote for and connectsmall power connections for customers. It reduced the time surveyors spent on labour-intensivestreetworks design plans from hours to just minutes, while continuing to meet the high levels of safetyand accuracy required under the regulations. The average time taken to connect new or altered power connections was reduced by a quarter acrossapproximately 300 roadworks sites where 1Streetworks was used.
Paul Dooley, streetworks performance manager at UK Power Networks, said: “Planning streetworksto the high standards we expect takes time and few have tried to revolutionise the process during my23 years in the sector. So, I’m excited about the potential of 1Streetworks to streamline complex trafficmanagement plans, enable better communication with customers and highway authorities andimprove the speed and accuracy of streetworks plans”.
Growing 1Streetworks pipeline
The growth of 1Streetworks is expected to positively impact 1Spatial’s financial profile, with eachcontract likely to command SaaS margins and be recurring in nature. Investment in the cloud-basedsolution has ensured it is highly scalable, allowing 1Spatial to take advantage of the significant UKopportunity. The Company has a further four paid trials currently in place, together with severaladditional paid trials due to commence in the first half of 2024 across utilities, highway authoritiesand traffic management organisations.
Claire Milverton, CEO of 1Spatial, added: “We are delighted that our innovative 1Streetworksapplication has delivered such fantastic results for UK Power Networks and its customers. We lookforward to working with Paul and the team to roll out the software further across the network overthe coming months. This has been a key milestone for the company and a culmination of many yearsof work and investment. The commercial validation brought by this contract is crucial in drivingadoption across the wider industry.
“We are encouraged by current discussions with other major operators across multiple industries, who
have the same challenges in producing traffic management plans.
“With our new SaaS offerings, 1Streetworks in the UK and NG911 in the US, opening up considerableadditional growth markets opportunities alongside our Enterprise offerings, we believe the opportunityfor 1Spatial has never been greater.”
Notice of 1Streetworks investor webinar
1Spatial will be hosting a virtual insight session and Q&A for investors and sell-side analysts at 3pm onWednesday, 12 March 2024. The event will cover the 1Streetworks solution, how it can revolutionisecomplex street works planning, and the significant addressable market opportunity.If you wish to attend, please register by emailing 1spatial@almastrategic.com.For those unable to attend on the day, a recording of the webinar will be made available on 1Spatial’swebsite shortly after the event at https://1spatial.com/investors/reports-and-presentations/.The Company intends to host a capital markets event in May 2024 focusing on the Group’s overarchingstrategy, its Enterprise business and two SaaS offerings: NG911 and 1Streetworks.
For further information, please contact:
1Spatial plc 01223 420 414
Claire Milverton / Stuart Ritchie
Liberum (Nomad and Broker) 020 3100 2000
Max Jones / Edward Mansfield / Anake Singh
Alma Strategic Communications 020 3405 0205
Caroline Forde / Hannah Campbell / Kinvara Verdon 1spatial@almastrategic.com
About 1Spatial plc
1Spatial plc is a global leader in providing Location Master Data Management (LMDM) software and solutions, primarily to the Government, Utilities and Transport sectors. Our global clients include national mapping and land management agencies, utility companies, transportation organisations, government and defence departments.
Today - as location data from smartphones, the Internet of Things and great lakes of commercial Big Data increasingly drive commercial decision-making - our technology drives efficiency and provides organisations with confidence in the data they use.
We unlock the value of location data by bringing together our people, innovative solutions, industry knowledge and our extensive customer base. We are striving to make the world more sustainable, safer and smarter for the future. We believe the answers to achieving these goals are held in data. Our 1Spatial Location Master Data Management (LMDM) platform incorporating our 1Integrate rules engine delivers powerful data solutions and focused business applications on-premise, on-mobile and in the cloud. This ensures data is current, complete, and consistent through the use of automated processes and always based on the highest quality information available.
1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in the UK, Ireland, USA, France, Belgium, Tunisia and Australia.
For more information visit www.1spatial.com
