New Pilot with Indian State-Owned Utility

RNS Number : 8545R

Cyan Holdings Plc

17 September 2014

 



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

New Pilot with Indian State-Owned Utility

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 bidding consortium of 5 companies including Cyan, has deployed a proof of concept pilot of 60 meters to demonstrate Cyan's CyLec Advanced Metering Infrastructure ("AMI") technology with the Indian state-owned utility, Uttar Gujarat Vij Company Ltd ("UGVCL").

The pilot, in Naroda and Deesa, is part of a competitive tender process that began in late 2013 with four other bidding consortia, consisting of technology providers, system integrators and meter manufacturers supplying their AMI solutions for evaluation by the utility. The consortium which includes Cyan technology is believed to be the only one to have demonstrated an interoperable, sub-GHz smart metering solution. If Cyan's consortium is successful, it would represent a major endorsement of the Company's hardware and software and is expected to clearly illustrate the CyLec compelling value proposition for other electricity utilities across the region.

The UGVCL pilot is one of 14 smart grid pilots under the Smart Grid Task Force ("SGTF") in India being run by the Ministry of Power. Whilst no guarantee can be given at this time that the consortium will be successful in converting this pilot into a commercial order, or that UGVCL will roll out AMI on completing its evaluations of the various solutions currently in pilot phase, Cyan is pleased that its technology has already proven its interoperability across two meters supplied by different manufacturers.

In a separate smart metering initiative at the same utility, Cyan was formally invited by UGVCL in April 2014 to install a further 100 meter 865MHz smart metering proof of concept. The pilot letter specification required that the meters be capable of self forming/self healing mesh networking and be capable of being read at a range of at least 100 meters. This pilot has also now been deployed by Cyan, with UGVCL expected to evaluate the results over the next few months.

John Cronin, Executive Chairman at Cyan, commented: "We are pleased that this consortium was selected to participate in one of the 14 pilots under the Ministry of Energy smart grid initiative. Whilst UGVCL has not yet committed to rolling out its smart grid pilot projects, Cyan's technology has already proved its interoperability between two meter manufacturers, which was a key criteria of the tender.

"We are therefore delighted to be participating in these two pilots and working directly with one of India's state utilities. Furthermore, we believe these pilots have a better probability of progressing to commercial orders than other Indian state owned utilities we have worked with in the past, should our AMI solution beat the competition under evaluation by this utility. We therefore look forward to building on this relationship.

"The State of Gujarat is viewed as being progressive in terms of adoption of new technology to meet the needs of its population. With 200 million legacy meters currently deployed, it is estimated that India will install 130 million smart meters by 2021 and we look forward to taking a significant role in this technological evolution."

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. Cyan's wireless mesh networking platform uses sub-GHz open standards-based technology that offers 'last mile' connectivity between millions of devices and enterprise software, supporting bilateral communications with the end user. For more information, please visit www.cyantechnology.com.

About CyLec®

CyLec is a complete control and communication hardware and software solution for smart electricity metering. CyLec enables the communication of data from an enabled meter to the electricity utility via Advanced Meter Reading ("AMR") devices, where the utility typically uses handheld devices to read the meter remotely, or through a complete Advanced Metering Infrastructure ("AMI") solution, where the data is transmitted through the telecommunication network to the utility.

The CyLec solution provides the electricity utility with significant revenue assurance through the ability to physically track their meters and monitor and tampering. In addition, the CyLec AMI offers an effective means of curtailing revenue leakage by monitoring energy usage and facilitating fraud detection. Furthermore, the CyLec AMI can also support demand side management programs, which assist in the reduction of brown-outs, increase system reliability and facilitate the creation of peak and off-peak energy tariffs for consumers.

About Uttar Gujarat Vij Company Ltd ("UGVCL")

UGVCL is a wholly-owned subsidiary of Gujarat Urja Vikas Nigam Limited, a government of Gujarat undertaking, and serves more than 2.8 million consumers across six districts in India.

 

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