MOU with Innologix Consulting

RNS Number : 6647Q

Cyan Holdings Plc

03 September 2014

 



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

Cyan signs MOU with Innologix Consulting

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 it has signed a Memorandum of Understanding with Innologix Consulting Pvt Ltd ("Innologix") to enter into a non-exclusive partnership to develop, market and deploy managed smart metering solutions in India.

Cyan and Innologix will work in partnership to identify and tender for smart metering opportunities where the utility customer is seeking a managed service. Innologix will integrate Cyan's Advanced Metering Infrastructure ("AMI") Head End Software platform with its energy management solutions.

Innologix provide innovative energy management solutions that store and maintain meter data using a cloud based offering, which results in a cost effective managed service for utilities.

John Cronin, Executive Chairman at Cyan, commented: "We are pleased to be partnering with Innologix to offer managed CyLec AMI solutions across India.  Innologix centralises business critical systems, providing utilities with the high resiliency and secure infrastructure required for revenue assurance.

"We continue to strengthen our presence across India and this partnership will further help us extend our reach. We are always looking for innovative ways to grow our customer base and this collaboration ensures that we remain well-placed to build our position in an increasingly important region."

Atul Agrawal, CEO & Founder at Innologix Consulting, commented: "We look forward to offering Cyan's market leading AMI technology as a managed service. Our cost effective, cloud computing service will deliver the latest technology without the investment in infrastructure or the running costs required to host and manage a system in-house."

Enquiries:

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

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 Innologix Consulting

Innologix Consulting is in the business of providing innovative solutions for energy management for its clients across geographies. Innologix specializes in providing business solutions which leverage availability of on line data, big data strategies and cloud computing.

Innologix Consulting is founded by Atul Agrawal who has more than 20 years of experience in the energy and utility industry, with rich operations, consulting and information technology experience. Atul has worked for Ferranti Computer Systems, IBM, Infosys, Siemens and Reliance Industries before he founded Innologix Consulting.

Innologix focuses on the following business segments:

Micro-Grids

Residential Segment (home and apartment complexes)

Commercial Building

Commercial Stores

Industry

Grids

Energy and Utility Vertical

 

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