MOU with Global Meter Vendor
Cyan Holdings plc
("Cyan" or the "Company")
Cyan signs MOU with Global Meter Vendor El Sewedy
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 Memorandum of Understanding ("MOU") with El Sewedy Electrometer India Pvt Ltd ("El Sewedy") to develop, market and deploy integrated smart metering solutions in India and across the globe.
Under the MOU, El Sewedy and Cyan will tender as part of a consortium for a number of smart metering projects in India and other target markets. Cyan's smart metering solution, CyLec, will be integrated with El Sewedy's single-phase smart meters and will support the Open Meter Protocol ("OMP"), which provides an open standard protocol optimised for real-time monitoring and control over wireless mesh networks.
According to El-Sewedy*, the ABS Research-UK Report of 2009 ranked El Sewedy number five in the worldwide metering market, with more than 10 million meters and metering solutions running in more than 20 countries around the world. With group revenues in 2013 of EGP15 billion, El Sewedy employs 2,000 people in seven factories across Egypt, Ghana, Zambia, Ethiopia, Mexico, Brazil and India. El Sewedy is a member of Zaki EL Sewedy Group, which was founded 70 years ago with the aim of upgrading the global energy distribution sector through deploying the latest technologies. El Sewedy primarily sell metering solutions in Europe under the Iskraemeco brand.
John Cronin, Executive Chairman at Cyan, commented: "We are very pleased to be partnering with El Sewedy to provide smart metering technology to their customers in India and other markets. This partnership will also increase the number of qualified meter manufacturers in India using OMP as standard.
"As the Indian market moves to commercial deployments, Cyan is well positioned to support open standards for meter and communication protocols, which is imperative to ensure customers can achieve cost efficiencies and benefit from technological advances."
* http://www.sewedy.in/CompanyProfile.html
Enquiries:
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Cyan Holdings plc |
www.cyantechnology.com
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Allenby Capital Ltd - Nominated Adviser and Joint Broker |
Tel: +44 (0) 20 3228 5656
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Hume Capital Securities plc - Joint Broker
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Tel: +44 (0) 20 7101 7070 |
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Walbrook PR - Financial PR
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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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