15 April
2024
CyanConnode Holdings
plc
("CyanConnode" or
the "Company")
Order For A New Deployment In
India
CyanConnode Holdings plc (AIM:
CYAN), a global leader in Narrowband Radio Frequency (RF) Smart
Mesh Networks, is pleased to announce the receipt of an order for
265,331 Omnimesh Modules from Madhyanchal One Infrastructure
Private Limited, a subsidiary of IntelliSmart Infrastructure
Private Limited (IntelliSmart). In addition to the modules, the
order includes Advanced Metering Infrastructure (AMI),
Standards-Based Hardware, Services, Omnimesh Head-End Software, a
Perpetual License, and an Annual Maintenance Contract.
The order will support a new smart
metering deployment for Madhyanchal Vidyut Vitaran Nigam Ltd
(MVVNL), a utility located in Lucknow, India. This is the fifth
order received under a Strategic Framework Agreement, which was
signed in February 2023. These orders support the deployment of
smart metering for five different utilities, thereby increasing
CyanConnode's footprint in India as the nationwide rollout of smart
meters gains momentum.
The supply of Omnimesh Modules for
this project is expected to commence during Q1 FY 2025, and the
supply of all hardware is expected to be completed during FY 2025.
A support and maintenance contract will be in effect for a period
of seven and a half years after the go-live stage.
John Cronin, Executive Chairman of CyanConnode,
commented:
"We are delighted to announce a
fifth order from IntelliSmart received under the Strategic
Framework Agreement. CyanConnode's influence in India continues to
grow as the nationwide rollout of smart meters gains
momentum. This order takes our cumulative order book for
India to 6.6 million Omnimesh modules, of which we have
successfully delivered 2.8 million modules by the end of FY
2024."
Ends -
Enquiries:
CyanConnode Holdings plc
Tel: +44 (0) 1223 865
750
John Cronin, Executive Chairman
www.cyanconnode.com
Strand Hanson Limited (Nominated and
Financial Adviser) Tel:
+44 (0) 20 7409 3494
James Harris, Richard Johnson, David
Asquith
Zeus
Capital Limited (Broker)
Tel: +44
(0) 20 3829 5000
Simon Johnson, Alexandra
Campbell-Harris
About
CyanConnode
CyanConnode (AIM:CYAN.L), is a world
leader in Narrowband Radio Frequency (RF) Smart Mesh Networks,
which are used for machine to machine (M2M) communication. As
well as being self-forming and self-healing, CyanConnode's RF Smart
Mesh Networks are designed for rapid deployment, whilst giving
exceptional performance and competitive total cost of
ownership.
In June 2018, CyanConnode launched
its award-winning Omnimesh Advanced Metering Infrastructure (AMI)
platform, which has already gained considerable commercial
traction, especially in India which is a key market for the
Company.
Through a Global partner eco-system,
which is vendor agnostic, CyanConnode has several routes to market,
therefore it is well positioned to capitalise upon increasing
Global demand for smart metering solutions.
For more information, please
visit www.cyanconnode.com
About IntelliSmart
IntelliSmart Infrastructure Private
Limited is India's leading smart metering and digital solutions
provider. It is a joint venture of National Investment and
Infrastructure Fund (NIIF) and Energy Efficiency Services Limited
(EESL), established with the core purpose of becoming the most
preferred digital partner of the utilities. Our organisational
culture is built on the core values of Integrity, Respect,
Innovation and Sustainability, which influence our everyday
endeavours and collective practices.
IntelliSmart, as a digital solutions
provider, aims to create a difference in the power distribution
sector with digital interventions while shouldering the
responsibility of mass-scale rollout of smart meters under RDSS.
With smart meter infrastructure, consumer data management and
AI/ML-based analysis, the company seeks to create considerable
value for state utilities by enabling them to develop additional
revenue sources. In the long run, smart metering will help create a
robust, resilient, flexible smart grids that can integrate
renewable energy seamlessly to meet India's growing power
demand.
Website: https://www.intellismartinfra.in/