RCS - CyanConnode Holdings - Two Million Communication Endpoints Deployed

Cyanconnode HoldingsAnnouncement

09/08/2024 07:00

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RNS Number : 8142Z  CyanConnode Holdings PLC  09 August 2024

9 August 2024

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Two Million Communication Endpoints Deployed in India

CyanConnode Holdings plc (LSE: CYAN), a global leader in narrowband radio
frequency ("RF") smart mesh networks, is pleased to announce two significant
milestones achieved by its Indian subsidiary, CyanConnode Pvt Ltd
("CyanConnode India"). Firstly, the successful deployment of over two million
nodes, making it the first and only smart metering communications player in
India to reach this milestone, and the prestigious SKOCH Gold Award win by
Tamil Nadu Generation and Distribution Corporation Limited ("Tangedco") for
its smart metering project powered by CyanConnode's communication network.

First and Only Communications Player to Deploy Two Million Communication
Endpoints in India

CyanConnode India has become the first and only smart metering communications
player in India to deploy over two million communication endpoints while
successfully delivering required Service Level Agreements. This remarkable
achievement showcases CyanConnode India's extensive reach and experience
across the country, with deployments in ten states: Assam, Rajasthan, Himachal
Pradesh, Madhya Pradesh, Gujarat, Tamil Nadu, Bihar, Maharashtra, Karnataka,
and Andhra Pradesh. This milestone underscores CyanConnode's commitment to
providing reliable and scalable smart metering solutions, contributing to
India's energy management and digital transformation goals.

Tangedco Wins Prestigious SKOCH Award

In addition, the distribution company, Tangedco, has won the prestigious SKOCH
Award for Gold Category in the Power & Energy category. The award
recognises the digital transformation of Tangedco's commercial operations
under the smart metering project powered by CyanConnode's communication
network.

The project has delivered exceptional billing and smart metering communication
rates of over 99%, accelerating invoicing, reducing errors, and enhancing
customer satisfaction through timely billing. It has also optimised
operations, reduced carbon emissions, increased revenue, and optimised
manpower, among many other benefits.

John Cronin, Executive Chairman of CyanConnode, commented:

"We are immensely proud of these achievements. Reaching the milestone of two
million deployed communication endpoints is a testament to the reliability of
our technology and the hard work and dedication of our team in India.
Tangedco's SKOCH Award win highlights the significant impact of our technology
on improving operational efficiency and customer satisfaction. These
accomplishments reinforce our position as a leader in smart metering solutions
and our commitment to supporting India's energy management initiatives."

For more details on the SKOCH Award and to watch the award video and
presentation, please visit here:
https://ratings.skoch.in/2024/07/28/tangedco-tamilnadu-generation-and-distribution-corporation-limited/
(https://ratings.skoch.in/2024/07/28/tangedco-tamilnadu-generation-and-distribution-corporation-limited/)

-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 (Joint
Broker)
Tel: +44 (0) 20 3829 5900

Simon Johnson / Louisa Waddell

 

Panmure Gordon (UK) Limited (Joint
Broker)
Tel: +44 (0) 20 7886 2500

Rupert Dearden / Freddy Crossley

 

 

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.

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