REG - CyanConnode Holdings - Order for 600,000 Omnimesh Modules

Cyanconnode HoldingsAnnouncement

25/05/2023 08:15

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RNS Number : 6435A  CyanConnode Holdings PLC  25 May 2023

 

25 May 2023

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Order for 600,000 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 from Paschimanchal Infrastructure Pvt Ltd, a subsidiary of IntelliSmart
Infrastructure Private Ltd, for 600,000 Omnimesh Modules. The order also
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 in
the utility, Pachimanchal Vidyut Vitran Nigam Ltd (PVVNL), located in Uttar
Pradesh, India.

 

The supply of Omnimesh Modules for this project is expected to commence during
the next quarter, 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 delighted to have received this order from Pachimanchal
Infrastructure, which also aligns with the State Government of Uttar Pradesh's
vision of ensuring uninterrupted power supply for its citizens. This order
signifies a significant milestone, as it will bring the total number of
Omnimesh Modules deployed in India to 4.2 million, with over 1.3 million of
those modules already deployed and operational. We look forward to the
implementation of this important project and delivering upon our commitment."

 

IntelliSmart, commented:

"IntelliSmart, a leading smart metering and digital solutions provider, has
established itself as a leader with a proven record of project implementation.
As we expand, our subsidiary, Paschimanchal Infrastructure, is being built on
the same values and pillars as IntelliSmart and we will remain committed to
timely delivery of the largest smart metering project tendered so far in the
country. We are pleased to partner with CyanConnode in keeping with the LOA to
meet the AMI requirements."

 

 

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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Union (Withdrawal) Act 2018. Upon publication of this announcement, this
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