CyanConnode signs MoU with Hexing

RNS Number : 8185H

CyanConnode Holdings PLC

05 August 2019

 

5 August 2019

CyanConnode Holdings plc

("CyanConnode" or the "Company")

CyanConnode signs MoU with Hexing

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with Hexing Electrical Co. Ltd (Hexing).

Hexing, established in 1992, is a multi-national manufacturing company that supplies Utilities in more than 80 countries across the world, with headquarters in Hangzhou, China.

CyanConnode and Hexing have agreed to collaborate and deliver smart metering solutions in certain territories.  As part of the collaboration, Hexing will integrate CyanConnode's RF Modules with its meters and CyanConnode's Omnimesh Advanced Metering Infrastructure (AMI) platform with Hexing's Meter Data Management System (MDMS), to create a cost-effective turnkey solution.

Bjorn Lindblom, Chief Commercial Officer, CyanConnode, commented:

"I am very pleased to announce that CyanConnode will be working with Hexing, who have a wealth of experience in delivering solutions to Utilities in more than 80 countries around the world.

"The Memorandum of Understanding will expand CyanConnode's geographical reach and introduce its products and services to new customers."

Fan Jianqing, GM of International Trade Department, Hexing, commented: "As a leading provider of advanced metering infrastructure, we are pleased to offer CyanConnode's IPv6-based Omnimesh solution as part of Hexing's portfolio.  CyanConnode's RF Mesh technology provides a cost-effective, scalable communication network that can be integrated and deployed with ease."

In a recent report from MarketsandMarkets, revenue in the global smart meters market is expected to grow from $12.79 billion in 2017 to $19.98 billion by 2022, with Asia-Pacific estimated to be the fastest growing market*.

*https://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html

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Enquiries:

CyanConnode Holdings plc                                         John Cronin, Executive Chairman	Tel: [phone] www.cyanconnode.com
Yellow Jersey PR (Financial PR)                                                Felicity Winkles / Sarah Hollins/ Annabel Atkins	Tel: [phone] [e-mail]
Arden Partners plc (Broker and Nomad) Paul Shackleton / Dan Gee-Summons (Corporate Finance) Simon Johnson (Corporate Broking)	Tel: [phone]

About CyanConnode

CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication.  As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.

In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.

Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.

For more information, please visit www.cyanconnode.com

About Hexing

Hexing, established in 1992, is a multi-national company offering a variety of electrical equipment and relevant solutions to global power utilities.

With more than two decades of industry experience, Hexing is dedicated to developing a customised, sustainable ecosystem for energy distribution companies including micro-grid with renewable energy, distribution automation and smart meter to cash collection resulting in effective revenue protection.

Today, more than 80 countries around the world are utilising Hexing products and solutions for a better tomorrow.

 

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