Cyanconnode Share News (CYAN)

(ShareCast News) - Cyan Holdings completed a small but historic deal this week, revealing on Tuesday it was demonstrating a proof-of-concept of smart electricity metering for traffic cameras in Iran just weeks after international sanctions on the country were lifted.A total of 2,000 units were ordered as part of the deal, by Iranian telecommunications contractor Micromodje.The AIM-traded systems and software company, which specialises in smart metering, said the initial purchase order was worth £67,000 with an upfront payment of £50,000.It was for the supply of Cyan's CyLec Advanced Metering Infrastructure solution, which included RF modules, data concentrator units, head-end software licenses, software installation services and an annual software maintenance agreement.The order was small but significant, being placed only two weeks after international sanctions on Iran were lifted on 16 January. It was understood to be one of the first orders secured by a UK business after the lifting of the sanctions.Cyan said the first units were delivered at the beginning of last week, and were successfully deployed in a two-day period for a proof-of-concept to measure the energy consumption of the street cameras.The proof of concept needed to be ready in time for a demonstration to government officials as part of the Victory Day of the Iranian Revolution celebrations on 11 February in Tehran, the company said."We are delighted to be partnering with Micromodje in Iran, particularly at this historic time following the lifting of economic sanctions against Iran", said Cyan executive chairman John Cronin."The combined Cyan team from India and the UK exceeded the customer's expectations by deploying the proof of concept pilot in only two days", he added.Micromodje managing director Mr Goldouzian said Cyan's capability was clearly optimised for emerging regions, enabling such markets to address challenges driven by rapid growth and the demand for energy."Its collaborative approach will empower Micromodje with new skills and expertise, and we look forward to being part of Cyan's global smart-metering ecosystem", Goldouzian added.Micromodje and Cyan had now commenced discussions on a larger purchase order for smart electricity metering solutions to be deployed elsewhere in Iran. The Iranian government estimates the country will require 33m smart meters.