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LONDON (Alliance News) - Cyan Holdings PLC on Thursday said it has secured a follow-on order with conglomerate Larsen & Toubro for its smart meters to be installed at Tata Power Mumbai, following the successful implementation of the first order.
The company, which makes mesh-based flexible wireless products for utility metering and lighting control, said an order for 5,000 smart meters had been placed by L&T. It did not disclose financial details on the deal.
Last year, Cyan installed its modules inside L&T's smart meters, which were then deployed by Tata Power, the Indian power company and part of the Tata Group.
It said the newly-ordered meters would be delivered over the coming weeks, and added it was currently in talks with Tata Power regarding a framework order to meet the Indian company's needs over a multi-year period.
"We are delighted to have a follow-on order from L&T, providing a clear signal to customers, partners and shareholders that Cyan's advanced metering infrastructure communications platform is ideally suited for emerging market technical requirements as well as reconfirming our leadership position in the India smart metering market," said John Cronin, the executive chairman of Cyan.
Shares for Cyan were up 1.8% at 0.140 pence on Thursday morning.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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