Houston METRO Selects Copperleaf Portfolio to Optimize Transit Asset Management
VANCOUVER, BC, March 7, 2024 /CNW/ - Copperleaf® Technologies Inc. (TSX: CPLF) ("Copperleaf") announces the selection of its decision analytics solution by the Metropolitan Transit Authority of Harris County ("METRO"), a major public transportation agency based in Houston, Texas.
METRO's Transit Asset Management (TAM) group was established in 2017 to comply with the Federal Transit Authority TAM Rule and provide decision support to prioritize and justify capital investment needs. As trends and requirements in the North American transit asset management landscape have evolved to incorporate new drivers of value, such as risk, resilience, and equity, legacy tools are increasingly unable to meet the complex investment prioritization needs of many medium to large transit providers.
In late 2023, METRO recognized that transitioning from a manual Excel-based process to an Asset Investment Planning (AIP) solution could improve its ability to create transparent, defensible capital plans, address its State of Good Repair (SGR) backlog, and adapt quickly to changing financial and operational conditions.
Copperleaf Portfolio™ will enable METRO to establish a more consistent, data-driven process to assess and prioritize investments in the SGR backlog by adopting best practices in modeling, risk assessment, and project valuation. This will allow METRO to evaluate all projects on a common scale, incorporate all drivers of project value, develop risk mitigation scenarios, and create high-value plans that consider funding and staffing resource limitations. The Copperleaf solution will also give METRO the ability to quickly adapt plans to changing business and financial conditions and ensure investments are aligned with METRO's long-term mission and strategy.
The Copperleaf implementation at METRO is scheduled to go from kick-off to go-live in approximately three months, providing rapid time-to-value for the organization.
"We're thrilled to play a part in helping METRO implement asset management best practices and deliver on their mission of providing clean, safe and reliable public transportation services," said Phil Jones, Managing Director of Copperleaf in the Americas. "We thank METRO for putting their trust in us and are confident Copperleaf's value-based approach to capital planning will enable METRO and other transit organizations develop optimal plans that address the State of Good Repair backlog and comply with the FTA's decision support requirements.
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws in Canada, including, without limitation, statements with respect to our expectations, plans or future opportunities and all statements expressed in the future tense. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that we consider appropriate and reasonable on the date such statements are made, but which are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the risk factors described in our 2023 Annual Information Form ("AIF") under "Risk Factors". Accordingly, readers should not place undue reliance on forward-looking information.
Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update this forward-looking information if the Company's expectations regarding future events change, or actual results differ from the expectations expressed in this press release, except as required by law.
Copperleaf (TSX: CPLF) provides enterprise decision analytics software solutions to companies managing critical infrastructure. We leverage operational and financial data to empower our clients to make investment decisions that deliver the highest business value. What sets us apart is our industry-leading products and our commitment to providing extraordinary experiences, shaped by people who care deeply and partnerships that stand the test of time. Copperleaf is actively involved in shaping and implementing global industry standards and sustainability principles through our participation in the United Nations Global Compact, the Institute of Asset Management, and other organizations. Headquartered in Vancouver, Canada, our solutions are distributed and supported by regional staff and partners worldwide. Together, we are transforming how the world sees value.
Source: Copperleaf Technologies Inc. CPLF-IR
SOURCE Copperleaf Technologies Inc.
Copperleaf Technologies Inc., Office: +1.604.639.9700, Email: Media Relations
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