(Alliance News) - CyanConnode Holdings PLC on Wednesday said it has received a contract for a smart metering deployment in Africa.
Shares in the Cambridge, England-based narrowband radio frequency smart mesh networks firm were up 10% to 12.15 pence each in London on Monday morning.
The value of the contract was not disclosed.
CyanConnode will supply 100,000 Omnimesh modules, together with advanced metering infrastructure, services, Omnimesh head-ends software, perpetual license, and an annual maintenance contract.
Omnimesh is based on IPv6 6 radio frequency mesh technology and provides electricity metering capability.
The supply of Omnimesh modules is expected to commence within the third quarter of 2021, with all modules being supplied within eighteen months. Approximately 90% of revenue will be recognised during the first two years of the contract with the balance being received during the annual maintenance contract, the firm said.
By Amrit Sahota; newsroom@alliancenews.com
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Cyanconnode (CYAN)