Follow-on orders for 10,400 smart meters in India

RNS Number : 3996I

CyanConnode Holdings PLC

19 June 2017

 

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

Follow-on orders for a further 10,400 smart meters in India

Strengthened relationship and accelerated roll out at Tata Power Mumbai

CyanConnode Holdings plc (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces new purchase orders for 10,400 smart meters from Larsen & Toubro ("L&T"), which expand the deployment of CyanConnode's smart metering solution at Tata Power Mumbai ("Tata Power").

The latest purchase orders from L&T, for CyanConnode's Advanced Metering Infrastructure ("AMI") solution, are part of a framework agreement between Tata Power and L&T, announced in December 2016. The framework agreement enables Tata Power to 'call off' further deliveries quickly throughout the year without going through a full procurement process. This latest follow-on orders further strengthens the Company's existing relationships with Tata Power and L&T.

CyanConnode will provide communications hardware and software for the implementation of its narrowband RF mesh AMI solution for 10,400 smart meters for Tata Power consumers in Mumbai, bringing the total orders to date to 25,100. CyanConnode's AMI technology provides bidirectional communication between Tata Power's meter data management system and its consumers' meters, enabling automated meter reading, regular and accurate billing as well as providing customers with energy consumption information.

Tata Power continues to expand and now has over 2.6 million consumer customers, including over 670,000 in Mumbai. In 2016, they were awarded the distribution franchise for Jamshedpur circle from the Jharkhand State Electricity Board (JSEB).

John Cronin, CyanConnode Executive Chairman, commented: "These orders further demonstrate the progress the Company is making in the Indian market as well as the success of  its scalable business model. We provide partners with world class support, transferring our expertise to facilitate customer ownership and increase customer loyalty. Furthermore, the sustained expansion at Tata Power Mumbai, validates the suitability of CyanConnode's optimised narrowband mesh network technology for the Indian market and provides a highly respected customer reference."

"India continues to be a core market and the Company is in a leading position with an established in-country team and partner eco-system. The Indian government's approved UDAY scheme, which aims to deliver the financial turnaround for utilities, has a target to install 35 million meters by 2019."

Enquiries:

CyanConnode Holdings plc	Tel: [phone]
John Cronin, Executive Chairman	www.cyanconnode.com
FinnCap Ltd (Nomad and Broker)	Tel: [phone]
Adrian Hargrave/Giles Rolls (Corporate Finance) Alice Lane (Corporate Broking)
Walbrook PR (Financial PR)	Tel:  [phone]
Paul Cornelius/Nick Rome	[e-mail]

About CyanConnode

CyanConnode is a world leader in narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications. Its innovative solutions use sub GHz frequencies and are optimised for exceptional performance. Ultimesh solutions provide end-to-end quality of service and total cost of ownership and Panmesh delivers standards-based IPv6 solutions, enabling rapid innovation for the implementation of 3rd party applications. Through its global partner eco-system, CyanConnode provides customers with the flexibility and choice required to converge networks for applications in smart cities and IoT, delivering increased customer value.

For more information, please visit www.cyanconnode.com.

About Larsen & Toubro

Larsen & Toubro is a USD 15 billion technology, engineering, construction, projects, manufacturing and financial services conglomerate, with global operations.

The company is engaged in core, high-impact sectors - infrastructure, construction, defence, hydrocarbon, heavy engineering, power, aerospace, shipbuilding, electrical & automation, mining and metallurgy. Its integrated capabilities span the entire spectrum of 'design-to-deliver', and it offers turnkey EPC solutions in its major business lines. Its track record covers products, projects and processes executed to international benchmarks.

Electrical & Automation is a major business portfolio of Larsen & Toubro. The business basket of Electrical & Automation (E&A) contains low and medium voltage switchgear products, electrical systems, energy meters and automation solutions. Its products and solutions cater to industry, utility, building & home, infrastructure and agriculture segments.

For more information, please visit www.larsentoubro.com

About Tata Power

Tata Power is India's largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 10477 MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely "Tata Power Delhi Distribution Limited" with Delhi Vidyut Board for distribution in North Delhi, 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand.

Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country's first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. It is also one of the largest renewable energy players in India with a clean energy portfolio of 3042 MW. Its international presence includes strategic investments in Indonesia through a 30% stake in the leading coal company PT Kaltim Prima Coal (KPC), 26% stake in mines at PT Baramulti Suksessarana Tbk ("BSSR"); in Singapore through Trust Energy Resources to securitize coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called 'Cennergi' to develop projects in sub-Sahara Africa; in Zambia through 50:50 joint venture with ZESCO for 120 MW Hydro which has become operational in 2016; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 185 MW hydro project which is scheduled to be commissioned in 2016; in Australia through investments in enhanced geothermal and clean coal technologies and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan.

With its track record of technology leadership, project execution excellence, world class safety processes, customer care and driving green initiatives, Tata Power is poised for a multi-fold growth and committed to 'lighting up lives' for generations to come".

For more information, please visit www.tatapower.com

About Larsen & Toubro

Larsen & Toubro is a USD 15 billion technology, engineering, construction, projects, manufacturing and financial services conglomerate, with global operations.

The company is engaged in core, high-impact sectors - infrastructure, construction, defence, hydrocarbon, heavy engineering, power, aerospace, shipbuilding, electrical & automation, mining and metallurgy. Its integrated capabilities span the entire spectrum of 'design-to-deliver', and it offers turnkey EPC solutions in its major business lines. Its track record covers products, projects and processes executed to international benchmarks.

Electrical & Automation is a major business portfolio of Larsen & Toubro. The business basket of Electrical & Automation (E&A) contains low and medium voltage switchgear products, electrical systems, energy meters and automation solutions. Its products and solutions cater to industry, utility, building & home, infrastructure and agriculture segments.

For more information, please visit www.larsentoubro.com

 

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