New Order for Smart Metering Utility Project

RNS Number : 9110U

CyanConnode Holdings PLC

03 April 2019

 

                                                                                                                                                                3 April 2019

CyanConnode Holdings plc

("CyanConnode" or the "Company")

New Order for Smart Metering Utility Project in India

CyanConnode Holdings plc, (AIM:CYAN), a global leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce that it has received a purchase order from a new Partner for an Indian state-owned Utility, who is also a new end-customer.  This order, for a deployment of 3,000 smart meters will use a hybrid RF Smart Mesh and Cellular communications network.  Delivery of the project and recognition of revenue will be during 2019.

The purchase order is for CyanConnode's award-winning technology, Omnimesh, which provides smart metering capability for Utilities.  This is the first order from this new Partner, who is a system integrator that provides Utilities with solutions to improve customer service, as well as reducing non-technical losses.  The Utility will evaluate the benefits of using a hybrid RF Smart Mesh and Cellular network.  CyanConnode expects to receive follow on orders when the evaluation process has been completed.

Anil Daulani, CEO & Managing Director of CyanConnode India, commented:

"I am pleased to announce this order for Omnimesh from our new Partner, whose end-customer is an Indian state-owned Utility.  Omnimesh is a proven technology, which enables Utilities to gather complex, accurate and timely data, thereby reducing non-technical losses.  I am excited that it is now going to be used for the deployment of a hybrid RF Smart Mesh and Cellular network.

CyanConnode is participating in large scale smart metering programs and it anticipates increasing deployment of its technology to meet the Indian government's plans to replace all existing electricity meters with smart prepaid meters, during the next few years.

Through our growing partner eco-system and dynamic bonds with utilities and government officials, standards bodies and regulators, CyanConnode continues to strengthen its award-winning technology for the Indian smart meter market."

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Enquiries:

CyanConnode Holdings plc                                                                        

John Cronin, Executive Chairman                                                            Tel: [phone]

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

Arden Partners plc (Joint Broker)

Paul Shackleton / Dan Gee-Summons (Corporate Finance)                Tel: [phone]

Simon Johnson (Corporate Broking)

About CyanConnode

CyanConnode is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks that facilitate machine to machine (M2M) communication. CyanConnode's innovative network technology, which is self-forming and self-healing, uses the Licence Free Industrial, Scientific and Medical Radio Band which is optimised to give exceptional performance and competitive total cost of ownership. Through global partnerships, CyanConnode provides customers with solutions for the rapid deployment of build-as-you-go Narrowband RF Smart Mesh Networks, that provide reliable and secure citywide or countrywide M2M communication.

For more information, please visit www.cyanconnode.com

 

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