[CYAN] This supplier of integrated system design company delivering mesh based flexible wireless solutions for lighting control, utility metering and industrial telemetry, is pleased to provide the following trading update for the six months ended 30 June 2011. In the first half of 2011 revenues significantly exceeded revenues for the whole of 2010. Additionally, Cyan has received a new order for 50,000 units of a legacy product increasing a substantial order backlog. Assuming this backlog of orders, accumulated during the first half of 2011, is delivered within the current financial year, the revenues generated in the second half of this year are likely to be double that shown in the first half and in excess of the total revenues shown in 2009 and 2010 combined. Kenn Lamb CEO of Cyan Holdings commented:
"I am delighted to be able to report such strong growth in the first half despite the seasonal effects of reduced first quarter trading in China. The revenues and backlog halfway through the year represent the tip of the anticipated growth curve and we expect bookings in the second half to be stronger than those in the first half. "The backlog represents only the initial orders for initial projects of existing customers, who prefer to place regular orders that match the rate of installation and not a single order for the total opportunity. Whilst we are targeting orders from new customers during the second half of 2011, additionally, we expect significant repeat orders for initial projects from existing customers, as well as new orders from existing customers for new projects. Added to this we expect to enjoy a run of orders from a pipeline of new customers. "These factors should support a faster rate of growth in the second half than we have experienced during the first half of 2011."
Has signed a strategic partnership agreement with the Shanghai Yaming Lighting Co., Ltd 'Yaming'.
Yaming is a well respected and long established lighting company that claims to be the largest manufacturer of Street Lighting sold in China. Established in 1923, Yaming has 87 years of experience in lighting development and has several subsidiary companies and operates as part of several joint ventures.
A new Yaming EMC (Energy Management Contract) company has been seeking a wireless control partner for its HPS (High Pressure Sodium) and HID (High Intensity Discharge) and LED Lighting Products. Cyan has been chosen by Yaming to be that partner.
Yaming's long history, the size of the company and its reputation for quality puts Yaming in a strong position to win future EMC lighting contracts across China, and Cyan is delighted that Yaming has selected Cyan's CyLux lighting control technology.
Yaming has already purchased a number of CyLux controllers that have been installed in Yaming lights for a pilot installation used to demonstrate the working product to municipality officials. Other controllers have been purchased so that the entire assembly can be put through accelerated life tests and meet Yaming quality standards. These products are scheduled to commence production shipments in February 2012.
Cyan has signed an agreement to co-operate in the addition of further customer requested features into the Cyan lighting management system and to modify the graphics to feature Yaming Branding.
Kenn Lamb, CEO of Cyan Holdings Plc commented:
"We have worked hard for some time to secure this strategic partnership, as we believe that it positions us well for future growth in the Chinese street lighting market. Yaming is likely to be awarded a significant portion of future EMC's and, as such, we look forward to Yaming winning large contracts for its wireless lighting control product. Yaming's selection of Cyan is expected to have a positive influence on other companies seeking a wireless lighting control solution."
Announces that it has been confirmed as a leading supplier of a smart metering solution for the Indian market at The Smart Energy Conference held 14-16th November in Delhi.
Cyan was the only company to demonstrate a live metering installation that conformed to the specifications as published by India's Central Electricity Authority (CEA). The CEA is an "Attached Office" of the Ministry of Power, which set up a committee to finalise the specification of single-phase electricity meters for India's Advanced Metering Infrastructure and has published a report which refers to a 200 million meter requirement in India. The committee consisted of representatives from electricity utilities, meter manufacturers, component manufacturers and India's standards bodies.
At the show Cyan demonstrated a live communication link to a pilot installation of over 100 networked smart meters located in an industrial cluster in Noida, a suburb of Delhi. The pilot installation was developed in conjunction and cooperation with several leading Indian companies in the utility sector such as Capital Meters, who supplied the wireless meters, and Phoenix IT Solutions, whose mPower Meter Data Management System (MDMS) was used to process the metering data.
This integrated system design company delivering mesh based flexible wireless solutions for lighting control, utility metering and industrial telemetry announces an alliance with Wipro Technologies, the global Information Technology, Consulting and Outsourcing business of Wipro Limited (NYSE:WIT). Wipro will provide Consulting and IT Services to power utility companies in India deploying wireless meters incorporating CyLecTM, Cyan Technology's wireless communication solution for electricity metering. Cyan Technology is an integrated system design company delivering mesh based flexible wireless solutions for utility metering and has become a recognised player in the Indian utility sector.
The alliance with Wipro forms the core of Cyan Technology's approach to building strategic partnerships with key players in India to become a major player in the fast growing Indian electricity metering market. The alliance brings together Wipro's strong track record of success in the energy and utilities space and Cyan's world-class CyLecTM solution to provide Advanced Metering Infrastructure (AMI) that offers seamless, robust, end to end wireless communication right from the customer's meter all the way to the utilities' internal IT systems and applications.
Indian utilities can now benefit from the advanced features provided by CyLecTM and Wipro's extensive capabilities in the Utilities sector to address the need for immediate and automatic detection of tampering, enable load balancing through remote connect and disconnect, provide live monitoring of energy usage and forecast of energy requirements. Besides, Indian utilities are suffering staggeringly high aggregate technical and commercial (AT&C) losses at 28.4% and they are very keen to adopt solutions that help them reduce these losses that result in lost revenues.
Faced with oncoming challenges such as efficient grid integration of renewable sources for the Indian smart grid, Indian utilities are keen to implement AMI as part of their distribution infrastructure, with typical installations running into a few millions of wireless enabled meters.
"Wipro is a global leader in the Energy and Utilities sector with proven expertise in IT transformational programs and significant domain expertise in the 'Utilities space'." said Bijan Mohandes, Vice President - World Wide Sales and Marketing, Cyan Technology. "We believe that by partnering with Wipro, we can combine their service delivery expertise with Cyan's CyLecTM solution to deliver much sought-after benefits to Indian utilities."
[CYAN] Has formed a strategic partnership with L&T to collaborate in the development, supply and delivery of Advanced Metering solutions comprising utility meters equipped with Cyan's wireless communication capability for AMI, Smart Metering and Smart Grid Pilot projects.
"L&T is a recognised leader in the Energy and Utilities sector with proven products and a tier 1 reputation" said Bijan Mohandes, Vice President - World Wide Sales and Marketing, Cyan Technology. "We are very pleased to be partnering with L&T. By using Cyan's wireless modules incorporating CyLec, L&T Meters will be capable of interoperable two-way communication and remote collection of metering data and control of the meters."
Both parties have identified a number of projects in India where there is a need for 865MHz based interoperable Wireless AMI with a short term requirement for end to end communications enabling remote tamper detection and reporting. The parties have entered into this strategic alliance as they believe that thistechnology is likely to become a major factor in the fast growing Indian electricity metering market.
The alliance with L&T is in line with Cyan's strategy of building strategic partnerships with key established players in India.
Larsen and Toubro Limited, is a company existing under the Companies Act 1956 , having its registered office at L&T House, Ballard Estate Mumbai 400001, operating through its Metering & Protection Systems Business Unit having its office at Mysore Campus, KIADB Industrial Area, Hebbal-Hootagalli, Mysore, 570 018, India ("L&T").
CyLec is a trademark of Cyan Technology Ltd.
The Company was notified on 3 August 2012 that Peter Lobbenberg has voting interests in 183,919,780 shares representing 8.095% of the Company's issued share capital.
The Company was notified on 8 August 2012 that Barnard Nominees Limited has voting interests in 111,457,857 shares representing 4.91% of the Company's issued share capital.
Very interesting share register movements could possibly indicate upcoming excitement in the share price, some keen institutions jockying for positions!
[CYAN] In the first quarter of 2012, Cyan continued to strengthen its strategic partnerships in India. In February, Cyan announced that it was entering into a Strategic Partnership Agreement with Larsen ∓ Toubro (L∓T) to provide Indian customers with Advanced Metering Infrastructure (AMI) products. L∓T is a recognised leader in the Energy (NYSEArca: JJE - news) and Utilities (Santiago: UTILITIES.SN - news) sector with proven products and a Tier 1 reputation. The alliance with Cyan enabled L∓T to offer an 865 MHz interoperable smart metering solution for a number of projects identified in India.
During this time, Cyan also made a significant addition to the management team. In March, John Cronin, a telecoms and smart metering industry expert, was appointed as a Non-Executive Director before taking over the position of Executive Chairman following the Annual General Meeting in May. Consequently John Read, who had been appointed to the role as an interim measure, assumed his previous position as a Non-Executive Director.
Cyan has established a strong position in the Indian smart metering market by working with leading meter manufacturers, system integrators and utility providers. These key partners are promoting CyLec, Cyan's interoperable smart metering solutions that can be easily integrated. In May, Cyan received a substantial order exceeding US$1M from one of its partners to fulfill the initial stages of a number of projects with several Indian electricity utilities. Shareholders will be aware that the Company's position of being poised for significant growth in India has taken several years to reach through deep and wide eco-system contacts (utilities and system integrators through to meter manufacturers).
As recent announcements demonstrate, the Tamil Nadu Electricity Board ("TNEB") Automatic Meter Reading ("AMR (NYSE: AMR - news) ") tender process has progressed and is nearing the final stages. With four Cyan partners getting ready and planning to install 500 unit pilots during July and August, Cyan understands that TNEB will make a decision on suppliers within 45 days of the start of the pilots and the Board remains confident of a positive outcome for Cyan. Cyan's technology has been integrated into five leading meter manufacturers in India with two more in progress. This provides the Company with a very strong position as new tenders get released.
further information regarding the timings of the Tamil Nadu Electricity Board (TNEB) Automatic Meter Reading (AMR) tender.
A number of Cyan partners have begun with the installation and commissioning of the 500 unit pilots at Trichy (Tiruchchirappalli), in the state of Tamil Nadu. The Cyan partners in question are confident that the installations are moving forward as planned and estimate that the pilots will be ready for inspection during September/early October.
TNEB are actively observing this phase of the tender process and on completion will review each pilot. At this stage, TNEB will test the technology to ensure it complies with the tender specification which includes interoperability of solution.
John Cronin, Executive Chairman of Cyan commented: "We are continuing to support our partners in the installation and commissioning of our CyLec® technology. This includes working with them on the ground in India as well as from Cambridge to ensure the pilots can be successfully demonstrated to TNEB."
[CYAN] This integrated system and software design company delivering mesh based flexible wireless solutions for M2M utility metering and lighting control announces its Interim Results for the six months ended 30 June 2012.
· Turnover of £192,923 (H1 2011: £220,277)
· Successful fund raising of circa £1.9 million (net of expenses)
· Appointment of John Cronin as Executive Chairman at the 2012 AGM
· Significant position achieved in "potentially transformational" TNEB tender in India
· Largest order in Company's history (over US$1M) for CyLec® products in India
· Partnership with major Indian electrical and utilities supplier Larson and Toubro Limited ("L&T")
as of 16 October 2012 Peter Bottomley has voting interests in 88,904,736 ordinary shares representing 3.91% of the Company's issued share capital.
In addition, the Company has been informed that as of 5 October 2012, Barnard Nominees Limited has voting interests in 86,012,572 ordinary shares representing 3.79% of the Company's issued share capital.
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
Formed a strategic partnership with Ilumatic to collaborate in the development, supply and delivery of CyLux®, Cyan's energy efficient smart lighting solution, within Brazil. The agreement also includes an order for $135,000.
Cyan and Ilumatic S/A have entered into a Strategic Partnership Agreement to provide Brazil's municipalities with CyLux®. This includes a $135,000 order from Ilumatic comprising of a significant initial upfront payment as well as complete funding to adapt, qualify and certify Cyan's CyLux® products to meet the RF spectrum standards in Brazil. This funding will rapidly accelerate Cyan's strategic entry into this significant market while being cost neutral and resource light for Cyan.
Ilumatic is focused on the development and manufacture of energy efficient street lighting products and is a well-established name within the fast-growing Brazilian market as one of the three leading lighting manufacturers. The lighting market across Latin America is estimated to reach in the region of $8bn by 2020, of which lighting control systems will account for approximately $153m*.
Nelson d'Arrigo, General Manager, Ilumatic, commented: "In Brazil demand is growing for automated, energy saving lighting control systems. We conducted a thorough review of the lighting control market and were delighted with Cyan's solutions. Cyan's CyLux® technology is ideal in that it is optimised for emerging markets, has low power consumption and is compatible with all lighting technologies."
John Cronin, Executive Chairman, Cyan Technology commented: "We are very pleased to be partnering with Ilumatic which is a well-respected name in Brazil across sectors including government, energy utilities, construction and engineering. The lighting market across Latin America is growing at a rapid rate and this agreement, in line with the Company's strategy of building key partnerships in our target markets, offers a significant opportunity for Cyan's lighting products to complement our current smart-metering opportunities in India."
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."