REG - CyanConnode Holdings - Empanelment Of Digismart For Cellular Deployments

Cyanconnode HoldingsAnnouncement

27/06/2024 07:00

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RNS Number : 1207U  CyanConnode Holdings PLC  27 June 2024

27 June 2024

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Empanelment Of Digismart Networks For Cellular Deployment In India

 

CyanConnode Holdings plc (LSE: CYAN), a global leader in Narrowband Radio
Frequency (RF) Smart Mesh Networks, is pleased to announce that DigiSmart
Networks Private Limited (DigiSmart), a wholly owned subsidiary of CyanConnode
Private Ltd, has now been certified to deploy Cellular technology as an
Advanced Metering Infrastructure Service Provider (AMISP).  This new
certification complements the Omnimesh RF Network certification obtained on 22
May 2024.

The certification issued by REC Ltd, (formerly known as the Rural
Electrification Corporation Limited which is ultimately owned by the Ministry
of Power), is valid until 23 June 2028. This certification recognises
DigiSmart's adherence and compliance with the stringent specifications set out
in the Request for Empanelment, enabling DigiSmart to bid directly as an AMISP
under the Revamped Distribution Sector Scheme (RDSS) for smart prepaid
metering in India on a Design, Build, Finance, Own, Operate, and Transfer
(DBFOOT) basis.

This additional certification substantially strengthens CyanConnode's
strategic position in India, enabling broader participation in the national
smart meter rollout The certification allows the Company to offer a variety of
technologies, including third-party cellular and hybrid models tailored to
each deployment. With over 3 million Omnimesh Modules already deployed across
India, CyanConnode, through its subsidiary DigiSmart, is now positioned to bid
directly for major projects throughout the country.

John Cronin, Executive Chairman of CyanConnode, commented:

"We are extremely pleased with DigiSmart's latest certification which enables
CyanConnode, through Digismart, to directly bid for smart metering projects
across India. This achievement is a testament to our commitment to providing
cutting-edge technology solutions and reinforces our strategic position in the
Indian market. With 15 years of successful operations in India and a robust
order book, CyanConnode is uniquely positioned to drive the evolution of smart
metering systems and thereby support the Government of India's vision for
energy modernisation. Certifications for  both RF and Cellular technologies
uniquely position us to directly bid for significant projects across India,
and provide the technology best suited to each project."

 

-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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