Order For One Million Omnimesh Modules

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: [phone]

John Cronin, Executive Chairman        www.cyanconnode.com

Cenkos Securities plc (Nomad and Joint Broker)                                   Tel: [phone]

Stephen Keys / Charlie Combe (Corporate Finance)

Arden Partners plc (Joint Broker)    Tel: [phone]

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

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. genuspower.com

 

END

 

 

CNTPPUMCRUPPGQG