Agreement with GridSense

RNS Number : 8394O

Cyan Holdings Plc

12 August 2014

 



Cyan Holdings plc
("Cyan" or the "Company")

Cyan and GridSense^® team up to provide end to end smart grid solutions

Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that it has signed a teaming agreement with GridSense^® Inc. ("GridSense"), to jointly market smart grid solutions in India and other emerging regions that will enable utilities to accurately monitor energy distribution and consumption all the way from the distribution transformer to the meter in the consumer's home, supporting the reduction in power losses and increased revenues.

GridSense and Cyan will deliver smart grid solutions to support the reduction of Aggregate Technical and Commercial ("AT&C") losses in India and other emerging regions. AT&C losses include technical losses in transmission and distribution as well as commercial losses caused by low metering efficiency and theft. Utilities in India have a pressing requirement to reduce these losses and have recognised the benefits that smart grid technology offers.

Cyan's smart metering platform, CyLec Advanced Metering Infrastructure ("AMI"), provides bi-directional communication between the customers' meter and the utility, enabling functionality such as meter reading, fault detection and tamper alerts. This enables a utility to accurately monitor the energy consumption at the meter level and take action when an issue is detected, for example disconnecting the supply until the issue has been investigated and resolved.

GridSense has developed a transformer level system, TransformerIQ^®, that maximizes intelligence and minimizes costs at the power distribution level. TransformerIQ enables energy providers to monitor all potential distribution transformer failure modes and detects early warning signs including asset deterioration and illegal activity.

Using a combination of the Cyan and GridSense solutions, utility customers will be able to accurately measure consumption at the district transformer and compare this with that measured by the combined AMI meters in the same area, to detect technical problems as well as tampering and theft.

John Cronin, Executive Chairman at Cyan, commented, "We are pleased to be partnering with GridSense to provide smart grid solutions to improve revenue protection for utilities in India and other emerging regions. Cyan's AMI solutions offer utilities confidence, providing the ability to monitor and control customer's energy consumption, ensuring accurate billing and revenue collection. The partnership with GridSense will allow us to extend this capability further into emerging markets, offering a complete solution for revenue assurance from the distribution transformer all the way down to the meter."

Brett Sargent, President & COO at GridSense, commented, "GridSense has developed a range of offerings that address all the critical points along the electricity delivery system, by integrating advanced sensing and measurement capabilities with remote communications and computing technologies. We are pleased to team with Cyan, a company who shares our desire to provide technology and services that help our customers address the limitations of legacy infrastructure."

ENDS

For further information:

Cyan Holdings plc John Cronin, Chairman	www.cyantechnology.com Tel:  [phone]
Allenby Capital Ltd - Nominated Adviser and Joint Broker Jeremy Porter / Michael McNeilly	Tel: [phone]
Hume Capital Securities plc - Joint Broker Jon Belliss	Tel:  [phone]
Walbrook PR - Financial PR Paul Cornelius	Tel:  [phone]

About Cyan

Cyan is an integrated system design company based in Cambridge, UK. It provides a communication platform that enables the measurement and control of energy consumption for the metering and lighting markets, helping to reduce energy losses. Cyan's wireless mesh networking platform offers 'last mile' connectivity between millions of devices and enterprise software, supporting bilateral communications with the end customer. 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.

About GridSense

GridSense is a smart grid technology company dedicated to providing innovative, practical and cost effective monitoring solutions to the electric power industry. Utilizing in-depth industry knowledge and understanding of utility requirements, we provide technology and services that help the industry address the limitations of old and aging infrastructure. We apply experience and technical know-how with new insight and ideas to create intelligent, reliable and leading edge technologies that add value to our customers and shape the future of the modern electrical power system. For more information visit (www.gridsense.com).

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that the named companies will continue to grow their respective businesses, or that any of them will meet the expectations or execute the initiatives described or referred to above.  In the case of GridSense, a complete discussion of the risks and uncertainties which may affect its and its parent company's business generally is included in "Risk Factors" in Acorn Energy, Inc.'s latest Form 10-K filed with the Securities and Exchange Commission.

 

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