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Pin to quick picksCyanconnode Share News (CYAN)

Share Price Information for Cyanconnode (CYAN)

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Share Price: 9.00
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CyanConnode receives ?3.3m order as it moves towards breakeven

Mon, 06th Jan 2020 15:52

(Sharecast News) - Smart metering and mesh network provider CyanConnode Holdings has received the formal purchase order relating to the letter of intent from its partner Genus Power Infrastructures, it announced on Monday, which was initially reported on 16 December.
The AIM-traded firm said the purchase order, worth £3.3m, included a full set of terms and conditions under which the project would be implemented.

Under the order, CyanConnode said it would supply 'Advanced Metering Infrastructure' (AMI) standards-based hardware, services, and head-end software, including a perpetual license and an annual maintenance contract.

The company said its 'Omnimesh' technology would provide a network canopy, enabling a hybrid radio frequency (RF) smart mesh and cellular communication platform, that would be scalable to 200,000 smart meters.

It said the installation of the project was expected to be completed within the next 15 months, with around 80% of revenue being recognised during the first two years, and the balance of approximately 20% being received during a further seven-year support and maintenance contract that would begin upon project completion and the 'go live' phase.

The first project planning meeting to discuss the roll out and installation of the meters would take place during January.

"Preserving and managing CyanConnode's cash remains a key focus as the company moves towards break-even, with a number of short to medium term funding options being considered to help strengthen this position," the board said in its statement.

"For example, a letter of credit is being provided by Genus for this project, which will mitigate CyanConnode's financial exposure relating to the manufacture of up to 200,000 communications modules.

"The letter of credit will also facilitate advanced payment for those modules, as and when they are delivered to Genus."

At 1548 GMT, shares in CyanConnode Holdings were down 4% at 2.86p.
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12 Feb 2024 13:13

CyanConnode secures letter of award from JST Grouip

(Sharecast News) - Radiofrequency mesh network specialist CyanConnode announced on Monday that it had secured a significant letter of award from its partner, the JST Group (JST).

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12 Feb 2024 10:59

IN BRIEF: CyanConnode partner JST receives Thai utility project order

CyanConnode Holdings PLC - Cambridge, England-based developer of narrowband radio frequency mesh networks - Notes significant letter of award from its partner, JST Group, a group of Thailand-based service an supply companies, for 101,360 Omnimesh cellular modules for an unspecified utility project in Thailand. This is the largest letter of award yet received for CyanConnode's Omnimesh cellular modules. Deployment of the cellular modules will commence in the first quarter of the 2025 financial year beginning April 2024.

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11 Jan 2024 16:16

CyanConnode gets order for one million modules

(Sharecast News) - Narrowband radio frequency networking company CyanConnode announced a significant order from Montecarlo on Thursday, through its subsidiary in India.

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11 Jan 2024 11:35

CyanConnode shares climb on order win for 1 million Omnimesh modules

(Alliance News) - CyanConnode Holdings PLC on Thursday said its subsidiary, CyanConnode Pvt Ltd, has received an order from Montecarlo Ltd for one million Omnimesh modules.

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19 Dec 2023 13:05

CyanConnode stays optimistic as revenue surges; loss narrows

(Alliance News) - CyanConnode Holdings PLC on Tuesday said it expects to meet full-year expectations, after reporting higher interim revenue.

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8 Nov 2023 18:10

CyanConnode plans to raise GBP2.5 million for strengthen balance sheet

(Alliance News) - CyanConnode Holdings PLC on Wednesday said it plans to raise about GBP2.5 million through a placing and subscription of shares.

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31 Oct 2023 14:26

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31 Oct 2023 11:30

CyanConnode secures Middle East and North Africa follow-on contract

(Sharecast News) - Narrowband RF mesh networks designer CyanConnode has received a letter of award for a follow-on smart metering deployment in the Middle East and North Africa.

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10 Oct 2023 16:47

CyanConnode receives order for 300k Omnimesh modules

(Sharecast News) - Narrowband smart mesh network technology company CyanConnode announced an order for 300,000 'Omnimesh' modules from IntelliSmart Infrastructure on Tuesday.

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10 Oct 2023 13:58

CyanConnode seals contract for 300,000 Omnimesh modules

(Alliance News) - CyanConnode Holdings PLC on Tuesday said it has received an order for 300,000 Omnimesh modules from IntelliSmart Infrastructure Private Ltd.

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5 Oct 2023 12:08

CyanConnode sees turnover quadruple in H1

(Sharecast News) - Narrowband mesh networks developer CyanConnode revealed on Thursday that interim turnover had more than quadrupled year-on-year.

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5 Oct 2023 11:10

CyanConnode sees first half revenue multiply as orders rise on-year

(Alliance News) - CyanConnode Holdings PLC on Thursday said that it has made pleasing progress in the first half, propped up by winning orders and a "significant" increase in revenue.

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