Smart metering industry forecasts

RNS Number : 5102V

Cyan Holdings Plc

15 January 2013

 



Cyan Holdings plc

("Cyan" or the "Company")

Report forecasts half of all global meter market revenues

to come from smart utility meters by 2016

Cyan Holdings plc (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, welcomes a recent forecast that smart utility meters will account for half of all global meter market revenues by 2016. 

Cyan's smart metering solution for utilities, CyLec®, provides an integrated platform that enables utilities to transform existing power grid infrastructure into the smart grid. CyLec® has been deployed with multiple utilities which leaves Cyan well placed to take advantage of the forecast increase in smart meter usage.

The forecast by IMS Research predicts that smart utility meters will account for half of all global meter market revenues by 2016. According to the study, Asian markets are also moving towards communicating utility meters, a trend that is expected to continue in the coming years.

This prediction for the Asian market is of particular interest to Cyan, which has its smart metering solution for utilities (CyLec®) deployed in multiple projects throughout India.

The Company is involved in the Tamil Nadu Electricity Board (TNEB) Automatic Meter Reading (AMR) pilot project in Tiruchchirappalli, (Trichy) in the state of Tamil Nadu, India. 

Cyan is also participating in a high profile smart grid project in Puducherry, India, through one of its partners. The project is being led by the Power Grid Corporation of India Limited (PGCIL), a government of India enterprise. It involves installing an Advanced Metering Infrastructure (AMI) solution in houses throughout Puducherry to support the electricity department's objective to save power. Cyan's metering partner has deployed CyLec® enabled meters in Puducherry for evaluation by PGCIL.

Cyan is also involved in an Advanced Metering Infrastructure pilot project for a leading integrated power company in Mumbai through one of its strategic partners. 

John Cronin, Executive Chairman of Cyan, commented: "In recent months we have seen how the Indian market is gearing up for large scale deployment of AMI. Our involvement in a number of pilot projects in India demonstrates the capabilities of our CyLec solution. We are confident that Cyan is well positioned to meet the growing demand for smart metering solutions in India and worldwide."

IMS Research's smart meter forecast is from their latest study, entitled: 'The Utility Meter Yearbook - 2013'.  More information on the study can be found on the following website:

http://www.electronics-eetimes.com/en/smart-utility-meters-will-account-for-half-of-all-global-meter-market-revenues-by-2016.html?cmp_id=7&news_id=222915082

Enquiries:

Cyan Holdings plc John Cronin, Executive Chairman	www.cyantechnology.com  Tel: [phone]
Cenkos Securities plc (NOMAD and Joint Broker) Stephen Keys / Adrian Hargrave	Tel: [phone]
XCAP Securities plc (Joint Broker) Jon Belliss / Adrian Kirk	Tel: [phone]
Walbrook PR Ltd Bob Huxford Paul Cornelius	Tel: [phone] [e-mail] [e-mail]

About Cyan

Cyan is an integrated system design company delivering mesh based flexible wireless solutions for utility metering, lighting control & industrial telemetry. For more information, please visit:

www.cyantechnology.com

About CyLec®

CyLec® is a complete control and communication network for electricity metering. CyLec uses wireless technology to enable the collection and delivery of data from and to a meter, such as energy profiles, instant readings and the sending of tariff updates. Priority data can also be sent back to the utilities such as information regarding tampering enabling the utility to take action immediately.

 

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