European Meter Update

RNS Number : 2232L

Cyan Holdings Plc

04 May 2010

 



Cyan Holdings Plc

("Cyan" or "the Group")

European Meter Update

Cyan Holdings plc (AIM:CYAN.L), the fabless semiconductor company providing wireless utility metering and lighting control products based on its feature rich, low power, microcontroller chips, is pleased to announce that it has recently received orders from large customers that serve the European automated metering market. 

This is an indication of acceleration in the deployment of meters in Europe. Automated metering is an important global market to which Cyan aims to become a major supplier as customers currently running field trials transition for production orders.

Cyan has a number of customers utilising its technology, which has been incorporated into their own products many of which have already been approved by regulatory authorities for use in a number of European countries.

To date, the technical performance of Cyan's products' has continued to drive demand from customers wanting to run field trials, which have proved highly successful, with the Group consistently meeting the demands of its potential key customers. 

This has translated into the number of orders received in Q2 2010 surpassing both the customer forecasts, and the total number of units ordered by such customers before.

Kenn Lamb, CEO of Cyan Holdings plc commented:

"This evidence of traction achieved in Europe is extremely encouraging for the Group.  While Cyan still expects unit shipments to customers in Asia to significantly exceed shipments to those in Europe during 2010, it is excellent to see European customers own unit forecasts being accelerated and exceeded."

www.cyantechnology.com

Enquiries:

Cyan Holdings plc John Read, Chairman	Tel: [phone]
Cenkos Securities plc Stephen Keys / Camilla Hume	Tel: [phone]
Hansard Communications Ltd John Bick / Kirsty Corcoran	Tel: [phone] Tel: [phone]

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John Bick

Hansard Communications

T: [phone]  M: [phone]

 

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