(Alliance News) - CyanConnode Holdings PLC on Monday said it secured a follow-on order for an additional 206,735 Omnimesh perpetual software licenses for USD206,000 at time of order.
Omnimesh is CyanConnode's advanced metering infrastructure platform.
The order is an addition to an initial one placed in December for Omnimesh's radio-frequency modules. Delivery of the modules will commence in May.
The wireless communication technology provider said the new order, placed by Forth Corporation Public Company Ltd for the Metropolitan Electricity Authority in Thailand, increases the value total value of orders received for MEA to more than USD3 million.
The additional Omnimesh software licenses will allow the electrical authority to connect up to 240,000 smart meters to the Omnimesh Head End Server, which will serve the Thailand Smart Metro Grid project. The order also includes an annual maintenance contract for the maintenance of the server, thereby providing a further recurring revenue stream for an initial period of five years.
"We are delighted to receive this follow-on order so soon after the initial order was placed in December 2019. CyanConnode's Omnimesh products met all evaluation criteria and outperformed competitor solutions and this follow-on order demonstrates the suitability of Omnimesh for the global smart metering market. We look forward to continuing to work with Forth to deliver our Omnimesh products throughout Thailand," said Executive Chair John Cronin.
The stock closed 5.0% higher at 2.10 pence each on Monday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Cyanconnode (CYAN)