REG - CyanConnode Holdings - Order For A New Deployment In India

Cyanconnode HoldingsAnnouncement

15/04/2024 07:00

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RNS Number : 5233K  CyanConnode Holdings PLC  15 April 2024

 

15 April 2024

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Order For A New Deployment In India

 

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 265,331 Omnimesh Modules from Madhyanchal One Infrastructure Private
Limited, a subsidiary of 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 new smart metering deployment for Madhyanchal Vidyut
Vitaran Nigam Ltd (MVVNL), a utility located in Lucknow, India. This is the
fifth order received under a Strategic Framework Agreement, which was signed
in February 2023. These orders support the deployment of smart metering for
five different utilities, thereby increasing CyanConnode's footprint in India
as the nationwide rollout of smart meters gains momentum.

 

The supply of Omnimesh Modules for this project is expected to commence during
Q1 FY 2025, and the supply of all hardware is expected to be completed during
FY 2025. 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 announce a fifth order from IntelliSmart received under
the Strategic Framework Agreement. CyanConnode's influence in India continues
to grow as the nationwide rollout of smart meters gains momentum.  This order
takes our cumulative order book for India to 6.6 million Omnimesh modules, of
which we have successfully delivered 2.8 million modules by the end of FY
2024."

 

 

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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