Update on TNEB Tender

RNS Number : 1405P

Cyan Holdings Plc

22 October 2012

 



22 October 2012

Cyan Holdings plc

("Cyan" or the "Company")

Update on TNEB Tender

Cyan Holdings plc (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and  lighting control today gives further information regarding the progress of the Tamil Nadu Electricity Board (TNEB) Automatic Meter Reading (AMR) tender.

The four Cyan meter manufacturer partners have now completed the installation and commissioning of their pilots in Trichy (Tiruchchirappalli), in the state of Tamil Nadu. The installations demonstrate Cyan's interoperable solution, CyLec®.

Over the last week, Cyan personnel have actively participated in the first on-site evaluations with TNEB officials as well as attending a subsequent review meeting. Cyan has been informed that of the sixteen companies that formally submitted samples and bids on this tender, only six have deployed pilots and the Cyan partners are the ones offering an interoperable solution.

Cyan has also been informed that the next stage in the tender attribution process will be "Price Bid Opening". This is where the sealed bids of the meter manufacturers who have deployed pilots will be opened in a meeting at TNEB in front of the participants and the selection of the meter manufacturers to fulfil the tender will start. Cyan expects to start receiving the first orders for delivery of product as soon as this next step is completed.

John Cronin, Executive Chairman of Cyan commented: "We are pleased that CyLec has been successfully demonstrated to TNEB and remain confident of our competitive position on this tender. I look forward to providing Cyan's shareholders with a further update shortly."

Cyan Holdings plc John Cronin, Executive Chairman www.cyantechnology.com	Tel: [phone]
Cenkos Securities plc NOMAD and Joint Broker Stephen Keys / Adrian Hargrave	Tel: [phone]
XCAP Securities plc Joint Broker Jon Belliss / Adrian Kirk	Tel: [phone]
Newgate Threadneedle Financial PR Caroline Evans-Jones / Guy McDougall	Tel: [phone]

About Cyan

Cyan is an integrated system design company delivering mesh based flexible wireless solutions for utility metering, lighting control & industrial telemetry. 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.

 

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