Omnimesh Smart Metering Solution Official Launch

RNS Number : 6788S

CyanConnode Holdings PLC

27 June 2018

 

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Official Launch of Omnimesh Smart Metering Solution

CyanConnode (AIM: CYAN), the world leader in narrowband radio mesh networks, has today officially launched its cost-optimised standards-based Omnimesh smart metering application at Asia Utility Week in Bangkok.

The benefits of this additional route to market have already been highlighted by orders won in India worth $4.3m and the Board believes the Company is well placed to take advantage of growing demand for standards-based solutions.

The Omnimesh Application

Delivered as part of CyanConnode's Omni IoT Platform, Omnimesh provides electricity metering capability. Based on IPv6 6 LoWPAN narrowband RF mesh technology, Omnimesh is a scalable, robust system that provides cost-effective communication capabilities, supporting the Smart Grid.

In July 2016, the Company acquired Connode Holding AB, a leading provider of IPv6-based solutions including a software license and support contract for the UK Smart Metering Implementation Programme. Following the acquisition, CyanConnode has rapidly engineered a cost optimised standards-based smart metering solution, designed to enable utilities to remotely monitor and control energy usage to reduce distribution losses. Omnimesh is designed to support global and country-specific Advanced Metering Infrastructure (AMI) standards, including those developed by Bureau of Indian Standards.

Global Opportunity

Omnimesh is designed to enable utilities to gather complete, accurate and timely customer metering data. This supports loss reduction programmes and reduces energy costs by maximising billing revenues and increasing power quality and customer experience. In addition, energy distribution reliability and resilience is improved by rapidly identifying and responding to peaks in demand, quickly locating and resolving faults and implementing real time controls to prevent minor faults developing into wider outages. Utilities can also implement real time pricing and enable customers to control energy consumption and costs. Most importantly, Omnimesh allows utilities to maximise smart grid investment by extending existing and new command and control capabilities over dedicated communication networks which reduce total cost of ownership.

The global AMI market is growing rapidly with much more demanding operating requirements. Omnimesh features, functionality and widely adopted standards meet the requirements of increasingly complex tenders, at a price point that supports utilities' business cases at all deployment scales. This changing dynamic has created enormous interest in Omnimesh and built positive momentum across the market.

John Cronin, CyanConnode Executive Chairman commented: "The development of our new Omnimesh product expands our global reach and ensures our technology can support global and country-specific standards for AMI.  Furthermore, this launch signifies the end of a major development programme for the Company, which will result in a substantial reduction in development costs at the same time as opening up new revenue streams.

"Ahead of today's official launch at Asia Utility Week, we are already rolling Omnimesh out to two Indian customers, which demonstrates the suitability of the product as well as the growing demand for standards-based solutions."

Jitendra Kumar Agarwal, Genus Power Joint Managing Director commented: "CyanConnode's world class communication solution, based on IPv6 narrowband RF mesh network, meets the technical requirements for AMI for many of the utilities in India. Following the rapid integration of CyanConnode's technology with our IS 16444 meters (Bureau of Indian Standards meter protocol) we are now implementing the IPv6-enabled smart meters at UGVCL. We understand, CyanConnode's robust networks are proven by its customer deployments globally and therefore Genus looks forward to working with CyanConnode on this and other similar projects in India. By joining hands with such proven players, we are committed to make Smart Cities and Smart Grid possible in India."

For more information about Omnimesh, or any of CyanConnode's products and services, see www.cyanconnode.com or email [e-mail].

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) Paul Cornelius / Nick Rome	Tel:  [phone] [e-mail]

About CyanConnode

CyanConnode is a world leader in the design and development of 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. Optimal solutions provide end-to-end quality of service with reduced total cost of ownership and Omnimesh delivers standards-based IPv6 solutions, enabling rapid innovation for the implementation of third party applications. Through global partnerships, 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.

 

END

 

 

NRAEAPKKASLPEFF