UK Power Networks selects 1Streetworks software to revolutionise streetworks planning

1Spatial, a global provider of Location Master Data Management (“LMDM”) software and solutions, announced that, following conclusion of a successful trial, it has signed a 12-month contract 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 the production of traffic management plans, diversion routing and asset inventory lists and has the potential to fundamentally change the industry.

There are over 2.5 million low-speed road works undertaken in the UK per year. This is estimated to grow to four million in coming years leading to a total annual addressable market opportunity in the UK of approximately £400 million.

UK Power Networks
UK Power Networks has 190,000km of cables and delivers thousands of streetworks every year across London, the South-East and East of England, to maintain safe and reliable power supplies to 19 million people.

UK Power Networks successfully used 1Streetworks software in a Surrey trial to quote for and connect small power connections for customers. It reduced the time surveyors spent on labour-intensive streetworks design plans from hours to just minutes, while continuing to meet the high levels of safety and accuracy required under the regulations.

The average time taken to connect new or altered power connections was reduced by a quarter across approximately 300 roadworks sites where 1Streetworks was used.

Paul Dooley, streetworks performance manager at UK Power Networks, said: “Planning streetworks to the high standards we expect takes time and few have tried to revolutionise the process during my 23 years in the sector. So, I’m excited about the potential of 1Streetworks to streamline complex traffic management plans, enable better communication with customers and highway authorities and improve the speed and accuracy of streetworks plans”.

Growing 1Streetworks pipeline
The growth of 1Streetworks is expected to positively impact 1Spatial’s financial profile, with each contract likely to command SaaS margins and be recurring in nature. Investment in the cloud-based solution has ensured it is highly scalable, allowing 1Spatial to take advantage of the significant UK opportunity. The Company has a further four paid trials currently in place, together with several additional paid trials due to commence in the first half of 2024 across utilities, highway authorities and traffic management organisations.

Claire Milverton, CEO of 1Spatial, added: “We are delighted that our innovative 1Streetworks application has delivered such fantastic results for UK Power Networks and its customers. We look forward to working with Paul and the team to roll out the software further across the network over the coming months. This has been a key milestone for the company and a culmination of many years of work and investment. The commercial validation brought by this contract is crucial in driving adoption 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 considerable additional growth markets opportunities alongside our Enterprise offerings, we believe the opportunity for 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 on Wednesday, 12 March 2024. The event will cover the 1Streetworks solution, how it can revolutionise complex street works planning, and the significant addressable market opportunity.

If you wish to attend, please register by emailing [email protected].

For those unable to attend on the day, a recording of the webinar will be made available on 1Spatial’s website shortly after the event here.

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.

www.1spatial.com