(Correcting company description.)
CyanConnode Holdings PLC - Cambridge, England-based designer and developer of narrowband radio frequency smart mesh networks - Says its subsidiary, CyanConnode India Pvt Ltd, has received an order from Montecarlo Ltd for 983,525 Omnimesh Modules. Notes the order relates to a smart metering deployment in Jabalpur, Madhya Pradesh.
The supply of Omnimesh Modules is expected to start during the first quarter of 2023. The installation of smart meters will be completed within 30 months and will be followed by a seven-and-a-half-year support and maintenance contract, which will start upon completion of the installation phase.
Chair John Cronin says: "I am delighted to announce our first order from Montecarlo, who are a diversified infrastructure development company based in India. The contract is another circa one million Omnimesh Module order, which is testament to our standards-based cutting-edge technology, skills and understanding of the Indian smart metering ecosystem."
Current stock price: 16.19 pence, up 14% in London on Wednesday around midday
12-month change: down 31%
By Xindi Wei, Alliance News reporter
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Cyanconnode (CYAN)