Cyanconnode receives order from Thai partner

(Sharecast News) - Radiofrequency networks provider Cyanconnode received an order for 33,000 units from its distributor and technology partner in Thailand on Monday.
Cyanconnode inked the deal in the South East Asian country, a new territory for the firm, after working closely with its partner JST Group and Forth Corporation - a telecommunication and electronics company that provides products and integration services in Thailand.

The AIM-listed group will deploy its Omnimesh technology, which has been integrated into Forth's electricity meters - allocated to the Thai energy utilities by The National Broadcasting and Telecommunications Commission of Thailand.

As part of the contract, Cyanconnode will receive an upfront payment of around $400,000 - approximately 25% of the contract value.

Chairman John Cronin said: "We are delighted to be part of the consortium contracted to implement a smart metering deployment for MEA in Thailand.

"CyanConnode's Omnimesh solution met all evaluation criteria and outperformed competitor solutions. This success demonstrates the suitability of Omnimesh for the global smart metering market."

As of 1110 GMT, Cyanconnode shares had shot up 75.71% to 3.70p. Cyanconnode