Empanelment Of Digismart For Cellular Deployments

CyanConnode Holdings PLC

27 June 2024

 

27 June 2024

CyanConnode Holdings plc 

("CyanConnode" or the "Company") 

Empanelment Of Digismart Networks For Cellular Deployment In India

CyanConnode Holdings plc (LSE: CYAN), a global leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce that DigiSmart Networks Private Limited (DigiSmart), a wholly owned subsidiary of CyanConnode Private Ltd, has now been certified to deploy Cellular technology as an Advanced Metering Infrastructure Service Provider (AMISP).  This new certification complements the Omnimesh RF Network certification obtained on 22 May 2024.

The certification issued by REC Ltd, (formerly known as the Rural Electrification Corporation Limited which is ultimately owned by the Ministry of Power), is valid until 23 June 2028. This certification recognises DigiSmart's adherence and compliance with the stringent specifications set out in the Request for Empanelment, enabling DigiSmart to bid directly as an AMISP under the Revamped Distribution Sector Scheme (RDSS) for smart prepaid metering in India on a Design, Build, Finance, Own, Operate, and Transfer (DBFOOT) basis. 

This additional certification substantially strengthens CyanConnode's strategic position in India, enabling broader participation in the national smart meter rollout The certification allows the Company to offer a variety of technologies, including third-party cellular and hybrid models tailored to each deployment. With over 3 million Omnimesh Modules already deployed across India, CyanConnode, through its subsidiary DigiSmart, is now positioned to bid directly for major projects throughout the country. 

John Cronin, Executive Chairman of CyanConnode, commented: 

"We are extremely pleased with DigiSmart's latest certification which enables CyanConnode, through Digismart, to directly bid for smart metering projects across India. This achievement is a testament to our commitment to providing cutting-edge technology solutions and reinforces our strategic position in the Indian market. With 15 years of successful operations in India and a robust order book, CyanConnode is uniquely positioned to drive the evolution of smart metering systems and thereby support the Government of India's vision for energy modernisation. Certifications for  both RF and Cellular technologies uniquely position us to directly bid for significant projects across India, and provide the technology best suited to each project." 

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Enquiries:

CyanConnode Holdings plc                                                                         Tel: [phone]

John Cronin, Executive Chairman                                                              www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser)         Tel: [phone]

James Harris / Richard Johnson / David Asquith

Zeus Capital Limited (Joint Broker)                                                         Tel: [phone]

Simon Johnson / Louisa Waddell

Panmure Gordon (UK) Limited (Joint Broker)                                     Tel: [phone]

Rupert Dearden / Freddy Crossley

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.

 

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