Initial Order

RNS Number : 9815V

Cyan Holdings Plc

11 November 2010

 



11th November 2010

Cyan Holdings Plc

("Cyan" or "the Group")

Order Update: India Public Lighting Control

Cyan Holdings plc (AIM:CYAN.L), announces that it has received an important initial order for wireless monitoring and control of outdoor public lighting in India.  Cyan manufactures a range of module products that implement wireless utility metering and lighting control systems.

The initial order is for 10,000 units, marks the start of an installation programme and represents only around 10% of the total number of lights in a single project. This customer was sourced by our partner Future Electronics which secured the order on behalf of Cyan and continues to provide local support.

Cyan products are expected to be used for both the remaining lights already contracted for installation on this project and have been proposed for use in a number of additional lighting projects for the same customer in other cities.

Street Lighting has been identified in many countries as a priority target to facilitate reduction in energy usage. Financial incentives are offered to drive this result, making measurement of energy saving a crucial feature for any new low energy lighting installation. Cyan wireless control systems not only monitor energy usage of individual lights but enable user programming of lighting profiles. Such profiles take account of sunset and sunrise, dimming at pre-set times during the night, weekday or weekend, and even public holidays, thus minimising the energy required to provide a given level of required lighting and clearly using far less energy than a simple on-off time switch.

Cyan lighting control products are currently predominately being assessed to measure and enhance the energy savings achievable in new installations of low energy lighting technologies such as LED and HID lights. In new installations, dimming enables an exact match between the lighting intensity specified and that produced by the selected light, thus minimising energy usage for each individual light within the network. However, because Cyan lighting control products have the capability to dim many different types of lighting, including traditional Sodium lighting, we also have the capability to allow customers to retrofit Cyan units to an already installed base of existing Sodium lights, a potentially far larger market than new build installation projects.

In addition, as announced on 1 September 2010, the Company entered into non-binding heads of terms relating to the issue of a convertible loan note, subject to the agreement of final terms and documentation. Whilst negotiations have been carried out between the parties in good faith, it has not been possible to agree final terms and documentation and the Directors have resolved not to pursue this further.

Kenn Lamb, CEO of Cyan Holdings plc commented:

"Realising and measuring energy saving is a requirement for this class of lighting installation and Cyan has developed a system that delivers a low cost, wireless, energy saving and measurement solution. Cyan lighting control solutions are easy to deploy, are user programmed and controlled over the existing mobile phone network. Cyan now offers map based remote management systems that allow individual light locations to be identified on interactive maps that display current status, and enable remote control of individual lights and changes to lighting profiles."

"This order confirms that the technology that Cyan has developed for lighting monitoring and control can be quickly and easily deployed into a wide range of street light products and lighting technologies. The additional cost of Cyan's lighting control product can be quickly recovered through incremental energy saving achieved through implementing lighting profiles; payback times for complete installations of new low energy lighting can be a little as 24 months, and Cyan lighting control systems can further reduce this by around 3 months. Monitoring actual energy usage is of increasing importance for lighting system installation companies who receive incentive payments based on energy savings actually realised."

 "Through multiple trials working with a broad range of customers in different countries, Cyan has developed a range of exciting additional features that complement our core offering.  Customers can enhance the benefits of adding wireless connectivity and reduce the payback period, making Cyan an even more cost effective option. As the year progresses I am confident that Cyan will make further announcements of initial orders in lighting and metering markets around the world."

www.cyantechnology.com

Enquiries:

Cyan Holdings plc Kenn Lamb CEO	Tel: [phone]
Cenkos Securities plc Stephen Keys / Adrian Hargrave	Tel: [phone]
Hansard Communications Ltd John Bick / Kirsty Corcoran	Tel: [phone] Tel: [phone]

 

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