Last checked at 
(Alliance News) - CyanConnode Holdings PLC shares were up on Monday morning, after the company said it has won a new order that will enhance its footprint in the subcontinent.
CyanConnode is a Cambridge, England-based developer of narrowband radio frequency mesh networks. Its shares were up 2.4% to 7.94 pence each in London on Monday morning.
CyanConnode said it has received an order for 265,331 of its Omnimesh Modules from Madhyanchal One Infrastructure Private Ltd, a subsidiary of New Delhi-based IntelliSmart Infrastructure Private Ltd.
In addition to the modules, the order includes advanced metering infrastructure, standards-based hardware, services, omnimesh head-end software, a perpetual license, and an annual maintenance contract.
It explained that the order will support a new smart metering deployment for Madhyanchal Vidyut Vitaran Nigam Ltd, a utility located in Lucknow, India.
This is the fifth order received under a strategic framework agreement, which was signed in February last year.
"These orders support the deployment of smart metering for five different utilities, thereby increasing CyanConnode's footprint in India as the nationwide rollout of smart meters gains momentum," CyanConnode said.
The supply of Omnimesh Modules for this project is expected to commence during the first quarter of financial 2025, and the supply of all hardware is expected to be completed during financial 2025.
A support and maintenance contract will be in effect for a period of seven and a half years after the go-live stage, the company noted.
Executive Chair John Cronin said: "We are delighted to announce a fifth order from IntelliSmart received under the strategic framework agreement. CyanConnode's influence in India continues to grow as the nationwide rollout of smart meters gains momentum."
Financial details of the contract were not provided by CyanConnode.
By Sophie Rose, Alliance News senior reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
