Order for New Product in the MENA region

RNS Number : 8537U

CyanConnode Holdings PLC

04 August 2022

 

04 August 2022

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Order for New Product in the MENA region

CyanConnode Holdings plc (AIM: CYAN), is pleased to announce that it has received an order for Cellular Gateways to provide smart communications for an Advanced Metering Infrastructure (AMI) project located in the Middle East and North Africa (MENA) region .

The order is for a new cellular product  which is to be fitted to existing smart electricity meters and is worth USD 2.5 million.

Delivery against the contract is expected to commence during this financial year, following an initial stage of obtaining certifications, and deployment is expected to be completed within 18 months.

John Cronin, Executive Chairman, commented :

"We are delighted to have received a further contract from our customer in the MENA region, in line with management's targets, and I look forward to growing the relationship with them to develop our business in the region."

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Enquiries:

CyanConnode Holdings plc    Tel: [phone]

John Cronin, Executive Chairman      www.cyanconnode.com

Cenkos Securities plc (Nomad and Joint Broker)                                    Tel: [phone]

Stephen Keys / Charlie Combe

Arden Partners plc (Joint Broker)    Tel: [phone]

Simon Johnson (Corporate Broking) 

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.

For more information, please visit  www.cyanconnode.com

 

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