Award for Technology Innovation
Cyan Holdings plc
("Cyan" or the "Company")
Cyan wins 2014 Frost & Sullivan Award for Technology Innovation Leadership
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 won the 2014 Europe Frost & Sullivan award for Technology Innovation Leadership in developing a smart metering technology for the power sector in emerging economies.
Each year, Frost & Sullivan presents this award to the company that has demonstrated uniqueness in developing and leveraging new technologies, which significantly impacts both the functionality and the customer value of the new products and applications. The award lauds the high R&D spend toward innovation, its relevance to the industry and the positive impact on brand perception.
Frost & Sullivan 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. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
John Cronin, Executive Chairman commented: "Cyan's strategy of partnering with local smart metering vendors was independently recognised by Frost & Sullivan as a highly effective method of commercialising its technology in emerging markets. Our recent experience has proven this, with the announcements of commercial deployments for Tata Power and Essel Utilities, through consortia, for Cyan's CyLec® smart metering solutions in India. We are committed in our focus on emerging regions and appreciate Frost & Sullivan's recognition of our innovative technology in this arena."
"CyLec has already demonstrated its practicality in India and Brazil, and has proven to be compatible with the existing static meters in these countries," said Frost & Sullivan Senior Research Analyst Avimanyu Basu. "The retrofitting is achieved with the help of a compact retrofit module that connects with the existing communications interface on the meter."
Cyan's smart metering technology is available as both an integrated and retrofit solution. It supports interoperability by enabling disparate meter communication protocols from various manufacturers to be integrated into an 'open system'. This is particularly important in emerging regions that are experiencing fast growth, as it ensures utilities have a reliable supply chain and are able to negotiate competitive pricing. The Open Meter Protocol can be customised to the requirements of the local utilities and support real-time monitoring through wireless mesh networks.
"The company has directed its efforts toward providing solutions in the most cost-effective way, with the help of effectual demand forecasting, demand-side management and accurate billing," noted Basu. "Cyan's efforts will go a long way in helping end users accrue cost savings through its meter retrofit solution, and utilities reduce AT&C losses."
In countries such as India, 27%* of the generated power is lost during transmission, distribution and commercial issues including tamper and theft, so optimising the system by reducing losses can provide a significant boost to the economy. It will also allow utility companies to invest in the improvement of infrastructure, which will bring the outlying areas that are without service into the grid network. Cyan envisions that in the next five years, smart grid technology will help to address aggregate technical and commercial (AT&C) losses and completely eliminate load shedding.
* source http://www.cea.nic.in/reports/monthly/executive_rep/feb14.pdf
Enquiries:
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Cyan Holdings plc John Cronin, Chairman |
www.cyantechnology.com Tel: +44 (0) 1954 234 400
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Allenby Capital Ltd - Nominated Adviser and Joint Broker Jeremy Porter / Michael McNeilly |
Tel: +44 (0) 20 3228 5656
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Hume Capital Securities plc - Joint Broker Jon Belliss
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Tel: +44 (0) 20 7101 7070 |
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Walbrook PR - Financial PR Paul Cornelius
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Tel: +44(0) 20 7933 8780
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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.
This information is provided by RNS
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