Order Update

RNS Number : 8540O

Cyan Holdings Plc

26 September 2011

 



26 September 2011

Cyan Holdings Plc

("Cyan" or "the Company")

Order Update: China Public Lighting Control

Cyan Holdings Plc (AIM:CYAN.L), the integrated system design company delivering mesh based flexible wireless solutions for lighting control, utility metering and industrial telemetry announces that it has received a further follow on order from a previously announced Chinese Lighting customer.

This order is for a further 20,000 modules, for a project requiring over 220,000 units in a single city, which is now managed under a new Energy Management Contract 'EMC'. This is one of several such EMC contracts that this customer expects to win, further to having established a new company in partnership with a government funded investment company.

Cyan has been notified that this customer is making preparations for two new projects in two further cities totalling 150,000 units, with initial installation of these 150,000 units scheduled for early 2012. This is consistent with our previous understanding that once the EMC Company had been formed, further contracts for multiple cities were expected to be awarded. The customer has also confirmed that it has numerous future projects at earlier stages.

Furthermore Cyan is pleased to report that the Beijing Government has approved a small trial of the Company's lighting control system.

Kenn Lamb, CEO of Cyan Holdings Plc commented:

"This news demonstrates that Cyan is delivering a complete lighting control system and that our product is able to adapt to specific and changing end user requirements. A customer that is using a lighting management system which has been adapted to their specific requirements is unlikely to want to change to a new system. Moreover, even if another supplier could develop an equivalent price competitive hardware product to ours, persuading the customer to adopt a new management system would be difficult.

"I believe that this management system further consolidates Cyan's hold on this particular business. Similarly, this news supports our expectation that once deployment has initiated in a city, Cyan lighting control products are likely to be used for the entire City. As previously announced, we again have confirmation that new orders for new cities should be placed in Q4."

Cyan Holdings Plc Kenn Lamb, CEO www.cyantechnology.com	Tel: [phone]
Cenkos Securities Plc NOMAD and Joint Broker Stephen Keys / Adrian Hargrave XCAP Securities Plc Joint Broker Jon Belliss / Parimal Kumar	Tel: [phone] Tel: [phone]
Hansard Financial PR Adam Reynolds / Guy McDougall	Tel: [phone]

 

END

 

 

MSCEALNDAFKFEFF