REG - CyanConnode Holdings - Order for 500,000 Omnimesh Modules

Cyanconnode HoldingsAnnouncement

09/08/2023 07:00

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RNS Number : 7143I  CyanConnode Holdings PLC  09 August 2023

 

9 August 2023

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Order for 500,000 Omnimesh Modules

 

CyanConnode Holdings plc (AIM: CYAN), a global leader in Narrowband Radio
Frequency (RF) Smart Mesh Networks, is pleased to announce the receipt of an
order for 500,000 Omnimesh Modules from

IntelliSmart Infrastructure Private Limited ("IntelliSmart"). In addition to
the modules, the order includes Advanced Metering Infrastructure (AMI),
Standards-Based Hardware, Services, Omnimesh Head-End Software, a Perpetual
License, and an Annual Maintenance Contract.

 

The order will support a smart metering deployment for a Power Grid
Corporation of India Limited ("PGCIL") project for Madhya Gujarat Vij Company
Limited ("MGVCL"), a utility located in Gujarat, India. This is the third
order received under a Strategic Framework Agreement ("Agreement") for 3
million modules, which was signed in February 2023. Including this order, the
total number of modules ordered under this Agreement, all received in the past
3 months, has now reached 1.4 million.

 

The supply of Omnimesh Modules for this project is expected to commence during
Q3 FY 2024, and the deployment will be completed within 27 months, under a
DBFOOT (Design, Build, Finance, Own, Operate, Transfer) model. A support and
maintenance contract will be in effect for a period of seven and a half years
after the go-live stage.

 

John Cronin, Executive Chairman of CyanConnode, commented:

"We are pleased to have received this further order from IntelliSmart, a
validation of our innovative technology and our steadfast commitment to
excellence. We remain focused on enhancing our partnership with IntelliSmart
and contributing to India's dynamic energy landscape. With this order, our
overall order book for India has now reached 5 million modules, of which 1.9
million modules had been delivered to the end of Q1 FY24, with the remaining
3.1 million modules to be delivered as per the project timelines."

 

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)

 

About IntelliSmart

 

IntelliSmart Infrastructure Private Limited is India's leading smart metering
and digital solutions provider. It is a joint venture of National Investment
and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL),
established with the core purpose of becoming the most preferred digital
partner of the utilities. Our organisational culture is built on the core
values of Integrity, Respect, Innovation and Sustainability, which influence
our everyday endeavours and collective practices.

IntelliSmart, as a digital solutions provider, aims to create a difference in
the power distribution sector with digital interventions while shouldering the
responsibility of mass-scale rollout of smart meters under RDSS. With smart
meter infrastructure, consumer data management and AI/ML-based analysis, the
company seeks to create considerable value for state utilities by enabling
them to develop additional revenue sources. In the long run, smart metering
will help create a robust, resilient, flexible smart grids that can integrate
renewable energy seamlessly to meet India's growing power demand.

Website: https://www.intellismartinfra.in/ (https://www.intellismartinfra.in/)

 

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