EUR 489,000 Follow-on Nordic Order

RNS Number : 3078F

CyanConnode Holdings PLC

12 July 2019

 

12 July 2019

CyanConnode Holdings plc

("CyanConnode" or the "Company")

€489,000 Follow-on Nordic Order

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce that it has received a follow-on Nordic order worth €489,000.

The order, for legacy CyanConnode hardware and software, is from an existing Partner and the end customer is a Nordic Utility, who is expanding an existing smart metering deployment.  The Company expects to recognise 50% of the revenues for this follow-on order in 2019 and 50% in 2020.

The existing smart metering deployment has been delivering reliable communications between consumers and the utility's data collection centre for over eight years, thereby providing significant benefits, including improved information on energy consumption, simplified billing and enhanced customer service.

Björn Lindblom, CyanConnode Chief Commercial Officer, commented: "I am pleased to announce this follow-on order for the expansion of an existing smart metering deployment in the Nordics.  The order demonstrates our customer's confidence in CyanConnode's technology."

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Enquiries:

CyanConnode Holdings plc                                                                       Tel: [phone]

John Cronin, Executive Chairman                                                              www.cyanconnode.com

Yellow Jersey PR (Financial PR)                                                                Tel: [phone]
Felicity Winkles / Sarah Hollins/ Annabel Atkins                                    [e-mail]

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

Paul Shackleton / Dan Gee-Summons (Corporate Finance)

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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