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LONDON (Alliance News) - Cyan Holdings PLC saw its shares rise early Monday after it said it has teamed up with Vodafone PLC's machine-to-machine team to create joint propositions, opportunities and customer proposals for the smart metering market in India.
Cyan has created technology allowing static electricity meters to become "smart" meters, connecting them wirelessly through a small self-contained box that connects via an existing communications interface on the meter. That saves utilities money, meaning they don't have to upgrade the whole meter, but can do things like reading metres remotely.
Teaming up with Vodafone, a big wireless player in India, offers both companies advantages. Cyan's wireless mesh networking platform offers a cost-effective extension to Vodafone's network reach for high-volume, low-value 'last mile' data communications to utility customers. Vodafone's M2M global data services platform and managed hosting provide secure data communication and storage beyond the networked devices.
"Our focus is to supply smart metering solutions to enable utilities to reduce transmission and distribution losses and protect revenue. Therefore, we are very pleased to announce this partnership and that our CyLec platform will be installed in Vodafone's customer experience center in Mumbai to demonstrate its capability in providing metering solutions," Cyan Chairman John Cronin said.
Cyan Holdings shares were up 19% at 0.238 pence early Monday, the biggest rise on the AIM All-Share index.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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