REG - CyanConnode Holdings - Order For One Million Omnimesh Modules

Cyanconnode HoldingsAnnouncement

22/08/2022 07:00

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RNS Number : 6922W  CyanConnode Holdings PLC  22 August 2022

 

22 August 2022

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Order For One Million Omnimesh Modules

 

CyanConnode Holdings plc (AIM: CYAN) is pleased to announce that its
subsidiary, CyanConnode India Pvt Ltd, has received its largest-ever order.
The order, placed by Genus Power Infrastructures Limited ("Genus"), is for one
million Omnimesh Modules, together with Advanced Metering Infrastructure,
Standards-Based Hardware, Omnimesh Head-End Software, Perpetual License and a
Support and Maintenance Contract.

The order relates to a smart metering deployment in Bihar and supply of
Omnimesh Modules is expected to commence during September 2022, with
installation being completed within two years.  The Support and Maintenance
Contract is for a period of eight years and will commence upon completion of
the installation phase.

 

 

John Cronin, Executive Chairman of CyanConnode, commented:

"We are delighted to have received this order from our long-standing partner
Genus, which cements our position as the largest provider of Narrowband Radio
Frequency (RF) Smart Mesh Networks for Smart Metering in India.   This
single order will almost double the number of modules we have deployed in
India to date.

 

India is at the beginning of its government's mandated deployment of 250
million smart meters and CyanConnode is pursuing current tenders for the
deployment of over 27.5m smart meters.  The Company also expects the number
of tenders that it is actively pursuing to grow further during the coming
months.  Your Board remains determined to take full advantage of
CyanConnode's superior RF technology and to capitalise upon its opportunities
in India."

 

Mr. Jitendra Kumar Agarwal, Joint MD of Genus, commented:

"We are very pleased to once again be partnering with CyanConnode. Both
companies have already worked closely together and successfully deployed four
projects, resulting in the rollout of over 600k Smart Meters.  I believe our
joint capability and track records will result in further opportunities for
both our companies in the near future."

 

- Ends -

 

Enquiries:

CyanConnode Holdings plc
 
Tel: +44 (0) 1223 225 060

John Cronin, Executive Chairman
 
 
www.cyanconnode.com

Cenkos Securities plc (Nomad and Joint Broker)
              Tel: +44 (0) 20 7397 8900

Stephen Keys / Charlie Combe (Corporate Finance)

 

Arden Partners plc (Joint
Broker)
                Tel: +44 (0) 20 7614 5900

Simon Johnson (Corporate Broking)

 

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.

 

CyanConnode's award-winning Omnimesh Advanced Metering Infrastructure (AMI)
platform has 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 Genus

Genus Power Infrastructures Ltd., started in 1995, is amongst the largest
players in India's electricity metering solutions industry, with approximately
27% market share. The company is the market leader in various kinds of meters
and has developed 'smart metering solutions', with an in-house R&D centre.
The company also has an engineering, construction, and contracts (ECC)
division which complements the existing meters business. Genus has
manufacturing plants across Jaipur, Haridwar and Guwahati with a total
installed capacity of over 10 million meters. Its key customers include the
major State electricity boards (SEB's) and private utilities.

 

For more information about the company and its businesses, please visit our
website www. (http://www.genuspower.com) genuspower.com
(https://genuspower.com/)

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