EQS-Adhoc: init innovation in traffic systems SE: Transport for London (TfL) awards a contract for the iBus2 on-bus and back-office services to init

EQS-Ad-hoc: init innovation in traffic systems SE / Key word(s): Contract
init innovation in traffic systems SE: Transport for London (TfL) awards a contract for the iBus2 on-bus and back-office services to init

04-March-2024 / 18:33 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Transport for London (TfL) and INIT Innovations in Transportation Ltd., a wholly owned UK subsidiary of init innovation in traffic systems SE, have signed the contract for the delivery of the London intelligent bus (iBus2) on-bus and back-office services. INIT will be providing more than 8,500 on-board computers and ancillary devices for all the buses and trams of the TfL vehicle fleet. TfL will use init’s technology to help them manage their franchise operations and to enhance safety and service quality for their passengers.

iBus2 will be delivered as an integrated service including system performance measurements with integrated KPIs and a cost effective “Strip and Collect” maintenance model where operators can easily provide 1st line services.

The tender divides into three lots. All three lots have now been awarded to INIT Ltd. The total contract has a value in the order of GBP 80 million for the investment phase and a similar order of magnitude for the first 10-year operations period. In addition, further options might be ordered at a later stage including a second 10-year operations period.

Contact:

Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com

End of Inside Information

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Language: English Company: init innovation in traffic systems SE Käppelestraße 4-10 76131 Karlsruhe Germany Phone: +49 (0)721 6100 0 Fax: +49 (0)721 6100 399 E-mail: ir@initse.com Internet: www.initse.com ISIN: DE0005759807 WKN: 575980 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1850971
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1850971 04-March-2024 CET/CEST