Significant New LOA For Thailand Utility

CyanConnode Holdings PLC

12 February 2024

 

12 February 2024

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Significant New Letter of Award For Thailand Utility

CyanConnode Holdings plc (AIM: CYAN), a world leader in narrowband radio frequency (RF) mesh networks, is pleased to announce a significant Letter of Award (LOA) from its partner, the JST Group (JST), for 101,360 Omnimesh Cellular Modules (CNICs). This LOA builds upon the ongoing deployment and previous orders of Omnimesh RF Modules, Gateways, and 206,735 Omnimesh perpetual software licenses, awarded between 2019 and 2021, for a project in Thailand.

The LOA is also the largest received to date for CyanConnode's CNICs, an IPv6 Standards-Based product engineered for seamless integration with CyanConnode's Head-End System (HES). The HES communications architecture enables both RF Mesh and Cellular connections. Deployment of the Omnimesh CNICs will commence in the first quarter of FY25.

John Cronin, Executive Chairman of CyanConnode, commented:

"I am pleased to announce this latest LOA from JST, which not only broadens our engagement in the Thai market but also demonstrates the expansion of our Omnimesh product range to include a standards-based cellular solution. This important development, with a standards-based cellular product, gives our HES both RF and Cellular capability."

Derek Stamp, CEO of JST, commented:

We are pleased with the continued success with CyanConnode on a project in Thailand which has resulted in a groundbreaking product that has met the demands of its deployment environment. JST's partnership with CyanConnode underscores our commitment to leveraging cutting-edge technology to address the unique challenges and opportunities presented by the Thai market.

- Ends -

Enquiries:

CyanConnode Holdings plc                                                                         Tel: [phone]

John Cronin, Executive Chairman                                                                 www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser)         Tel: [phone]

James Harris / Richard Johnson / David Asquith

Zeus Capital Limited (Broker)                                                                    Tel: [phone]

Simon Johnson / Louisa Waddell

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.

CyanConnode's award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform has 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

About The JST Group

The JST Group is an independent group of wholly owned Thai service and supply companies, with over 40 years' experience in Thailand and South East Asia. JST Group has developed a flexible organization structure to provide locally-based and managed specialist services to meet emerging customer requirements.

For more information, please visit http://www.jst-group.com/

The information contained within this announcement is deemed to constitute inside information for the purposes of Article 7 of EU Regulation 596/2014 (Market Abuse Regulations) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.

 

END