Agreement with Adtel

RNS Number : 4054H

CyanConnode Holdings PLC

15 November 2018

 

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Agreement with Adtel

Philippines Smart Metering Market

CyanConnode, a world leader in narrowband radio frequency (RF) mesh networks, is pleased to provide details of a distribution agreement entered into with Adtel Inc ("Adtel") to distribute CyanConnode's smart metering RF network technology in the Philippines.

Adtel distributes communication network equipment across the Philippines and its parent company Lopez Inc also supplies the electric power distribution sector in the region. Both are able to offer its customers CyanConnode's smart metering RF network technology.

Under the terms of the agreement, entered into in August 2018, which includes sales performance milestones, Adtel and its subsidiary Quantum Renewable Inc will distribute CyanConnode's Optimal technology, an end-to-end smart metering RF network solution that includes software and RF network management tools, including head end software. Further details can be found at: https://www.quantumre.com.ph/ar/smart-meter.html.

Rising demand for electricity and growing penetration of renewable energy technologies have been posing major challenges to utilities in Southeast Asia. This has brought smart electricity grid technologies to the forefront and Northeast Group LLC, a market intelligence firm based in Washington, D.C., with expertise in the smart infrastructure and smart grid sectors, has forecast that Southeast Asia will invest $9.8 billion in smart grid infrastructure over the next decade. It estimates the largest market segment will be Advanced Metering Infrastructure where an investment of $4.6 billion will be made¹. CyanConnode estimates that the addressable market for smart meters in the Philippines alone is close to 21 million units, providing a sizeable market opportunity².

Harry Berry, CyanConnode's Chief Operating Officer, commented: "CyanConnode is very pleased to have entered into this partnership with Adtel, who will provide a distribution channel for the Company's smart metering RF network technology in the Philippines, thereby increasing global reach.

"CyanConnode's cost-effective technology enables it to break into emerging markets and its partnering with Adtel gives it a tactical and logistical advantage over selling directly to customers."

Enquiries:

CyanConnode Holdings plc	Tel: [phone]
John Cronin, Executive Chairman	www.cyanconnode.com
FinnCap Ltd (Nomad and Broker)	Tel: [phone]
Ed Frisby/ Giles Rolls (Corporate Finance) Alice Lane (ECM)
Walbrook PR (Financial PR) Paul Cornelius / Nick Rome	Tel:  [phone] [e-mail]

¹ http://www.northeast-group.com/reports/Brochure-Southeast%20Asia%20Smart%20Grid-Market%20Forecast%202018-2027%20-%20Northeast%20Group.pdf

²   Based on analysis prepared by Milner Strategic Marketing

About CyanConnode

CyanConnode is a world leader in narrowband radio frequency (RF) mesh networks that facilitate machine to machine (M2M) communication. CyanConnode's innovative technology uses the industrial, scientific, and medical radio band, (ISM), which is optimised to give exceptional performance and competitive total cost of ownership. Through global partnerships, CyanConnode provides customers with a solution for the rapid deployment of local or countrywide ISM RF mesh networks that provide reliable and secure M2M communication.

For more information, please visit www.cyanconnode.com

 

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