LONDON (Alliance News) - Cyan Holdings PLC on Monday said it has secured a commercial smart metering implementation contract through Enzen Global Solutions Pvt Ltd in India.
The contract has been awarded to Enzen by Paschimanchal Vidyut Vitran Nigam Ltd, a public utility in Uttar Pradesh, and will see Cyan, which makes mesh-based flexible wireless products for utility metering and lighting control, work with Enzen on the deal.
It will provide more than 13,000 smart meters and the associated hardware and software under the contract, with the first meters expected to be installed and commissioned in the first half of 2016.
The current order is worth around GBP500,000 to Cyan, including recurring revenue for Cyan through providing its software.
"We are delighted that Cyan's technology has been selected for a second time by Enzen in a commercial smart metering deployment at a public utility in India," said Cyan Executive Chairman John Cronin.
Shares in Cyan were up 7.5% to 0.18 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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