First retrofit commercial order - India

RNS Number : 7504J

Cyan Holdings Plc

17 June 2014

 



Cyan Holdings plc
("Cyan" or the "Company")

First Cyan order for retrofit commercial deployment in India

Consortium led by Aquameas has been selected by Essel Utilities

Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that a consortium led by Aquameas Instrument Pvt. Ltd ("Aquameas") has been selected by Essel Utilities ("Essel") for the first deployment of Cyan's retrofit CyLec Advanced Metering Infrastructure ("AMI") solution in India.

Essel Utilities are part of the US$2.5Bn revenue Essel Group and operates multiple private utility franchises, serving 1 million customers across India. Aquameas designs, manufactures and supplies electricity meters as well as water meters and other metering equipment.

After the first meeting between Essel, Aquameas and Cyan, in February 2014, the project has moved quickly to a decision by Essel to place an initial order for a 5,000 unit CyLec AMI retrofit solution.  As part of the contract, Aquameas will manufacture and supply 5,000 retrofit modules, each containing Cyan's CyLec 865MHz RF device. The corresponding Cyan order from Aquameas also includes the additional hardware and software required for a full AMI deployment at Essel: Cyan Data Concentrator Units, custom antennas, Head End Server software licenses and onsite software implementation services. The 5,000 retrofit modules are expected to be fitted to Genus, Landis & Gyr, HPL and Larsen & Toubro consumer meters in Muzaffarpur (Bihar) during Q4 2014/Q1 2015.

The Indian power sector is heavily focussed on reducing transmission and distribution ("T&D") losses which will support the distribution company's requirement to improve their financial health. Smart grid technologies have been identified as a solution that could address these losses effectively. By implementing a smart metering solution, it allows the utility to collect and analyse data from every meter ensuring accurate billing and collection for every customer. As revenues increase, and T&D losses decrease, monies can be reinvested into further smart grid roll outs. With 200 million meters currently, it is estimated that India will install 130 million smart meters by 2021.

Country/Continent	Total number of meters currently deployed (in millions)	Number of smart meters already deployed (in millions)	Smart meters as share of total deployment
USA	150	46	30.7%
Europe	281	61.2	22.0%
Australia	9.5	3	31.6%
Canada	15	7.3	49%
India	200	-	<<1%

Source:
http://indiasmartgrid.org/en/resource-center/Reports/ISGF_Report%20on%20Smart%20Metering%20Scenario%20in%20India.pdf#search=smart%20metering%20scenario%20in%20India

Mr. Avinash Jape , Chief Executive Officer of Aquameas Instrument Pvt. Ltd, commented, "We would like to thank both Essel and Cyan for the confidence they have placed in us to manufacture the retrofit modules for this project. We view Cyan's solution as an excellent opportunity to accelerate the pace of smart metering deployment in India and look forward to partnering with Cyan on other similar opportunities in the second half of 2014." 

John Cronin, Executive Chairman of Cyan, commented, "We are delighted to have our first order for the commercial deployment of Cyan's technology in India. The retrofit solution was launched only six months ago and Essel immediately recognised that they could quickly and cost effectively upgrade their existing static meters to full AMI, providing the ability to remotely read meters and eliminate power theft, through remote disconnect. Essel are one of the leading private utility franchises in India and this selection demonstrates the strength and credibility of the retrofit offering."

In December 2013, Cyan launched the CyLec retrofit module, which is specifically designed to provide smart metering functionality to static electricity meters. The module is a small self-contained box that connects to an installed meter via an existing communications interface on the meter. Cyan's product provides a cost effective solution to enable utilities to upgrade from 'dumb' meters to Cyan's CyLec communication platform. The CyLec retrofit module is designed to support utilities that want to roll-out a smart metering programme into its installed base quickly and cost effectively.

Enquiries:

Cyan Holdings plc John Cronin, Chairman	www.cyantechnology.com Tel:  [phone]
Allenby Capital Ltd - Nominated Adviser and Joint Broker Jeremy Porter / Michael McNeilly	Tel: [phone]
Hume Capital Securities plc - Joint Broker Jon Belliss	Tel:  [phone]
Walbrook PR - Financial PR Paul Cornelius	Tel:  [phone]

About Cyan

Cyan is an integrated system design company based in Cambridge, UK. It provides a communication platform that enables the measurement and control of energy consumption for the metering and lighting markets, helping to reduce energy losses. Cyan's wireless mesh networking platform offers 'last mile' connectivity between millions of devices and enterprise software, supporting bilateral communications with the end customer.

For more information, please visit www.cyantechnology.com.

About CyLec®

CyLec is a complete control and communication network for electricity metering. CyLec uses wireless technology to enable the collection and delivery of data from and to a meter, such as energy profiles, instant readings and the sending of tariff updates. Priority data can also be sent back to the utilities such as information regarding tampering enabling the utility to take action immediately.

About Essel Utilities

Essel Utilities is the first integrated utility company in India that has recently acquired power and water distribution projects for major cities in the states of Madhya Pradesh, Bihar, Chhattisgarh and Maharashtra. Essel Utilities is an enterprise of the Essel Group, India's leading media and entertainment conglomerate with a group turnover of USD 2.5 billion (FY 2011).

Essel Utilities is committed to participate in public-private partnership (PPP) projects across India of transforming the ageing public utility infrastructure into modern state-of-the-art utility realm. The company's vision is to provide world-class integrated utility services with the best quality practices in reliability, safety and customer care.

Essel Utilities will manage power distribution franchise services in Gwalior, Sagar, Ujjain in Madhya Pradesh, Muzaffarpur in Bihar and Nagpur in Maharashtra. Shortly, the company intends to foray in water distribution projects for major cities of India.

The company envisages creating value for its stakeholder with top line revenues of 1500 crores Rupees and over one million consumer base by FY 2013-14. Essel Utilities have aggressive plans to expand its top line revenues and consumer base in the field of power & water distribution services.

About Aquameas

Established in the year 2001, Aquameas Instrument Pvt. Ltd. is a private limited company engaged in supplying and trading equipment such as flow meters, level transmitters, pressure transmitters various types of switches, pressure gauges, portable meters, water meter and energy meters. These products are acknowledged for their efficiency and durable service life.

In order to offer a world-class product range to its clients, Aquameas has recruited a team of dedicated and sincere professionals. The procuring agents assist in choosing the appropriate vendors to set up business tie ups with them. Aquameas' quality controllers make sure that the products are thoroughly tested on various attributes before these get delivered to the clients. Additionally, their technicians help in rendering technical services related to its product range to the clients. The relentless and coordinated efforts of these experts have helped in acquiring a rich client base across India. Some of Aquameas' esteemed clients are BMC, PMC, HWWSB, L&T and MCGM.

 

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