RCS - CyanConnode Holdings - Ranked 2nd Fastest-Growing UK Company in India

Cyanconnode HoldingsAnnouncement

15/11/2023 07:15

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RNS Number : 4543T  CyanConnode Holdings PLC  15 November 2023

 

15 November 2023

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

CyanConnode Ranked 2(nd) Fastest-Growing UK Company in India

 

CyanConnode Holdings plc (AIM: CYAN), a global leader in Narrowband Radio
Frequency (RF) Smart Mesh Networks, is pleased to announce that its Indian
subsidiary, CyanConnode Pvt Ltd, has been recognised as the second
fastest-growing UK company in India, according to the prestigious Britain
Meets India (BMI) 2023 report.

 

The BMI 2023 report, a collaborative effort by Grant Thornton Bharat, the
Confederation of Indian Industry (CII), and supported by the UK government's
Department for Business and Trade (DBT), identifies and ranks the
fastest-growing UK businesses based on their operational growth and employment
contribution in India.

 

Key Highlights of the BMI 2023 Report:

 

·    CyanConnode Pvt Ltd has been ranked as the second fastest-growing UK
company in India.

·    The report analysed 635 UK-owned or controlled companies in India.

·    Companies featured in the report have shown an annual turnover of
more than INR 500 million and at least 10% year-on-year revenue growth.

·    The collective turnover of these companies is approximately INR
4,888.4 billion (£51 billion), employing around 666,992 people.

·    The UK-India bilateral trade relationship is valued at over £35
billion, with the UK being a significant investor in India.

 

CyanConnode Pvt Ltd specialises in Smart Internet of Things (IoT)
communication solutions for Advanced Metering Infrastructure (AMI) in India,
particularly in the design and development of Narrowband RF mesh networks that
support Omni IoT communications. The company's innovative approach to smart
metering communications infrastructure has led to the installation of over 1.5
million RF nodes across India, significantly enhancing service delivery,
business efficiency, energy savings, and carbon emission reduction for its
customers.

 

John Cronin, Executive Chairman of CyanConnode, commented:

"We are honoured to be recognised by the BMI 2023 report as one of the fastest
growing UK companies in India. This accolade is a testament to our team's hard
work and the strong relationships we have built with our customers in India.
We remain committed to delivering innovative solutions that contribute to the
smart infrastructure of the future."

 

For more details on the BMI 2023 report and CyanConnode's operations,
investors and interested parties can refer to the full report -
https://www.grantthornton.in/en/insights/articles/britain-meets-india-report-2023/
(https://www.grantthornton.in/en/insights/articles/britain-meets-india-report-2023/)

 

The company looks forward to continuing its growth trajectory in India and
contributing to the strengthening of UK-India trade and investment ties.

 

Ends -

 

Enquiries:

CyanConnode Holdings plc
 
Tel: +44 (0) 1223 865 750

John Cronin, Executive Chairman
 
   www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser)         Tel:
+44 (0) 20 7409 3494

James Harris, Richard Johnson, David Asquith

 

Zeus Capital Limited (Broker)
 
                Tel: +44 (0) 20 3829 5000

Simon Johnson, Alexandra
Campbell-Harris

 

 

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
(http://www.cyanconnode.com)

 

 

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