MOU with Ecolibrium Energy

RNS Number : 5494N

Cyan Holdings Plc

29 July 2014

 

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

Cyan signs MOU with Ecolibrium Energy

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 Memorandum of Understanding with Ecolibrium Energy Private Limited ("Ecolibrium") to enter into a partnership to develop, market and deploy integrated smart metering solutions in India.

Ecolibrium and Cyan, as a consortium, will tender for a number of smart metering projects in India. The consortium's solution will provide seamless integration between Cyan's sub GHz wireless communication platform, delivering last mile connectivity, and Ecolibrium's smart grid platform, GridSense. This will enable utilities to track all existing meters in the network and monitor their usage, allowing timely and accurate billing for customers and leading to improved revenue assurance for electricity distributors.

Ecolibrium's GridSense offers a broad range of services including energy management solutions and demand response programs for distribution companies. Its technology-enabled solutions help meet the needs of utilities responsible for maintaining the real-time balance between electricity supply and demand. Ecolibrium has more than 400 customers across the country, managing more than 1500 MW of power through its demand side management programs and saving between 5%-25% of the energy costs of its customers.

John Cronin, Executive Chairman at Cyan, commented, "We are very pleased to be partnering with Ecolibrium to provide integrated solutions for smart metering opportunities across India. Ecolibrium's solutions enable utilities to manage the vast amounts of data generated by smart metering; optimising the use of energy and making the grid more efficient. This partnership will further extend Cyan's eco-system partners to allow Cyan to deliver measurable value to its customers."

Chintan Soni, Managing Director/CEO at Ecolibrium Energy, commented, "Cyan is well-established in the Indian market and its communication platform will enable the measurement and control of energy consumption. With demand for electricity growing at an average annual rate of 6%* and utilities needing to reduce transmission and distribution losses, an integrated system approach is fundamental. Together with Cyan, we will be able to provide an end to end solution to the distribution companies, starting from metering to consumer portal and analytics."

*http://www.ecolibriumenergy.com/?page_id=984

Enquiries:

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 Ecolibrium

With its headquarters in India, where majority of the power utility companies are struggling to become profitable, Ecolibrium Energy provide technology and services to power utilities and its consumers, which make not only economic, but also ecological prudence.

Ecolibrium Energy is committed to innovate in the energy management and demand response space. Its products provide cutting edge technology specific to Indian conditions to optimize the use of energy and make the grid more efficient. Armed with technology and solutions to address most of India's energy challenges, Ecolibrium Energy is a pioneer in the domestic smart grid sector. With experience of implementing some of the first demonstration projects in the country, the firm is at the forefront of the domestic smart grid revolution. The company is incubated at CIIE (Centre for Incubation Innovation and Entrepreneurship) under the Renewable Energy Search Program in partnership with the MNRE (Ministry of New and Renewable Energy). INFUSE capital and IFC (a world back group) are investors in Ecolibrium Energy. Ecolibrium is also a member of the India Smart Grid Forum, an initiative of the Ministry of Power.

 

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