Appointment of VP Asia

RNS Number : 9341C

Cyan Holdings Plc

23 January 2015

 

Cyan Holdings plc
("Cyan" or the "Company")

VP Asia appointed to grow business opportunities and lead expansion in new markets

Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that Vikas Kashyap has been appointed to the role of Vice President Asia, with responsibility for business development and sales across Asia.

Vikas is based at the Company's headquarters in Cambridge UK, and will manage strategic relationships established in India and China as well driving existing and new sales opportunities, as part of Cyan's strategy to expand its sales and business development leadership. In addition, Vikas will identify key markets and partners across Asia for large scale deployment of smart metering and lighting solutions.

Vikas will focus on exploiting the significant growth potential in the region - Northeast Group LLC, forecasts that Southeast Asian countries will deploy 37.3 million smart meters between 2014 and 2024, accounting for $8.8 billion of the $13.6 billion forecasted investment in smart grid infrastructure over the same period*.

For more than five years, Cyan has focussed on establishing a partner eco-system as well as developing business opportunities in India and China. Both of these target markets represent significant opportunities for Cyan's smart energy solutions and Internet of Things ("IoT") applications. For example, India has 200 million legacy meters and it is estimated that they will install 130 million smart meters by 2021**. Cyan recently announced its third commercial smart metering deployment in India for the public utility, Chamundeshwari Electricity Supply Corporation Limited ("CESC").

Before joining Cyan, Vikas held the position of Director of Sales at Secure Meters (UK) Ltd ("Secure"). Secure is part of Secure Meters Limited, one of India's leading energy metering companies and the flagship company of Secure Group. The Secure Group is a global business group with a major focus on energy metering systems and solutions. In his role as Director of Sales, Vikas was influential in projects for utilities in countries including India, Southeast Asia and the Middle East. Vikas was responsible for defining market requirements and business development as well as sales and project delivery of smart metering solutions funded by World Bank and local governments: BSES, Tata Power Delhi as well as state utilities in Uttar Pradesh, Haryana, Himachal Pradesh, Madhya Pradesh and Maharashtra. In addition, Vikas also led Secure's diversification into energy efficiency consulting through Advanced Energy Monitoring Systems ("AEMS"), a Secure Group company.

John Cronin, Executive Chairman, commented: "I am pleased to welcome Vikas to Cyan. Vikas has a wealth of experience in the energy sector in India which I believe will support our established eco-system partners in India as well as Cyan's expansion into other countries in Asia."

Vikas Kashyap said: "I am excited to join the Cyan teams in the UK and India and look forward to working with them on growing existing business and developing the company's presence in Asian markets."

*http://www.prnewswire.com/news-releases/southeast-asian-countries-to-invest-136bn-in-smart-grid-infrastructure-279107171.html 

**http://asian-power.com/sites/default/files/asianpower/print/APMay_2013_lr_12.pdf

Enquiries:

Cyan Holdings plc	Tel: [phone]
John Cronin, Chairman	www.cyantechnology.com
Allenby Capital Ltd - Nominated Adviser and Joint Broker	Tel: [phone]
Jeremy Porter / Alex Brearley
Hume Capital Securities plc - Joint Broker	Tel: [phone]
Jon Belliss
Walbrook PR - Financial PR	Tel: [phone]
Paul Cornelius/Nick Rome	[e-mail]

About Cyan

Cyan is an integrated system design company based in Cambridge, UK. It provides a communication platform that enables the measurement and control of energy consumption for the metering and lighting markets, helping to reduce energy losses. Cyan's wireless mesh networking platform offers 'last mile' connectivity between millions of devices and enterprise software, supporting bilateral communications with the end customer. For more information, please visit www.cyantechnology.com.

 

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