Proof of Concept Order and Distribution Agreement

RNS Number : 2462I

Cyan Holdings Plc

24 March 2015

 

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

Proof of Concept Order and Distribution Agreement

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 non-exclusive distribution agreement with XLink Communications (Pty) Ltd ("XLink") to distribute Cyan's smart metering and lighting solutions as well as related Internet of Things applications in South Africa.

XLink currently manages Machine to Machine ("M2M") solutions for over 68,000 businesses in Africa, facilitating 35 million M2M connections through the XLink Portal monthly. XLink, recognised by Frost & Sullivan in 2014 for its technology best practice in M2M, aims to be the market leader in the provision of wireless data M2M communication services and solutions throughout Africa and globally.

XLink will distribute Cyan's smart energy communication technology, which enables the measurement and control of energy consumption for the metering and lighting markets, helping to increase energy security and reduce costs. In addition, XLink will provide technical, field-based system integration and technical support for the deployment of Cyan's technology across South Africa. XLink are experienced in the deployment of infrastructure assets and associated projects for the energy, M2M and telecoms sectors.

The agreement includes an initial order for Cyan's smart metering hardware and software, CyLec, for a 100 unit Proof of Concept project in South Africa.  XLink's technical support team will deploy this project in the first half of 2015, for a leading provider of energy management systems, to demonstrate and evaluate the benefits delivered by CyLec. 

John Cronin, Executive Chairman of Cyan, commented: "We are pleased to be partnering with XLink to distribute and deploy our smart energy solutions in South Africa. XLink can offer customers the peace of mind of dealing with one company which provides integrated solutions for smarter energy. We believe that our technology will assist XLink's customers in increasing energy efficiency through cost savings and a reduction in energy losses."

Hymie Marnewick, Chief Commercial Officer of XLink, commented: "In South Africa demand is growing for smart energy solutions at the right price point. Cyan's experience in next-generation economies makes their solutions ideal for the market. Cyan's solutions will provide energy companies with the technology to support demand management, as well as enabling consumers to manage their energy consumption effectively."

In August 2014, Cyan signed a partnership agreement with South African-based Dinsmore & Associates to pursue opportunities for Cyan's solutions across sub-Saharan Africa. Sub-Saharan Africa is set for continuous economic growth over the next decade.  In 2013, the US Trade & Development Agency forecasted that South African utility executives would spend $11 billion on grid modernization over the next decade*. The Board of Cyan believes that energy providers in sub-Saharan Africa are recognising the importance of understanding and managing consumption through electricity metering to ensure financial sustainability to underpin energy generation and network investment through improved revenue collection.

*http://www.ustda.gov/news/pressreleases/2013/US/SGT_ZakSmartGridOpps_111913.pdf

Enquiries:

Cyan Holdings plc	Tel: [phone]
John Cronin, Executive Chairman	www.cyantechnology.com
Allenby Capital Ltd - Nominated Adviser and Joint Broker	Tel: [phone]
Jeremy Porter / Alex Brearley
Beaufort Securities Limited - Joint Broker	Tel:  [phone]
Elliot Hance
Walbrook PR - Financial PR	Tel:  [phone]
Paul Cornelius/Nick Rome	[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 XLink Communications

Now in its tenth year, XLink has proven resilience and best practice within the machine-to-machine (M2M) payment space and has received the 2014 South African Frost & Sullivan Award for Technology Leadership. Frost & Sullivan's Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.

XLink Communications was established in 2004, pioneering GPRS-based EFT data communication solutions in South Africa and is currently the largest carrier of electronic funds transfer (EFT) services across the GSM network. XLink currently manages M2M solutions for over 68 000 businesses in Africa, facilitating 36 million M2M connections through the XLink Portal monthly. XLink's seamless communication service and products provide businesses with the capability and intelligence to remotely provision, track, maintain and monitor over 160,000 sims and 100,000 units in the field. 

XLink has expanded its product range to provide specialist machine-to-machine data communication solutions for the retail, fuel, financial, hospitality, entertainment, travel, security, transportation and healthcare sectors.

For more information, please visit https://www.xlink.co.za/

 

END

 

 

MSCBCGDXSGDBGUX