Last checked at 24 Dec 2012 07:00
Cyan Holdings plc
("Cyan" or the "Company")
Deployment of Advanced Metering Infrastructure pilot
and
Update on TNEB tender process
Cyan Holdings plc (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that one of its strategic meter manufacturer partners in India has deployed Cyan's integrated Advanced Metering Infrastructure ("AMI") solution as a pilot for a leading integrated power company in Mumbai.
Cyan's meter manufacturer partner has deployed single and three phase CyLec® (Cyan's integrated solution for AMI) enabled meters in Mumbai for evaluation by the power company. The installation will demonstrate CyLec and is expected to remain in place for three to six months. The company will use its own Meter Data Management System to manage and present the data collected from the meters.
The private company is India's largest integrated power company with over 1,000,000 household, 150,000 corporate customers and a significant international presence.
Update on TNEB Tender
Cyan also updates shareholders that the Tamil Nadu Electricity Board (TNEB) tender process continues and that the field pilots in Trichy (Tiruchchirappalli) have been further extended. On site meter readings in Trichy have already been taken with Cyan's technology performing reliably and an interoperable solution has been demonstrated to TNEB. Cyan reminds shareholders that this is the first phase of an overall project to replace 18 million meters in Tamil Nadu and therefore it is a critical decision for the TNEB. Cyan's competitive position on this tender remains very strong and as the timeline is entirely driven by TNEB, Cyan needs to remain patient whilst TNEB complete the pilot evaluation and tender attribution process according to the Indian public utility tender regulations.
Update on substantial metering order in India
In May 2012, Cyan announced an order from a major metering customer in India. Due to delays in the TNEB tender process the fulfilment of this order will be in 2013.
John Cronin, Executive Chairman of Cyan, commented: "We are delighted that one of our key strategic partners is implementing the first of one of our AMI pilots planned in India with the power company. This further demonstrates that the Indian market is gearing up for large scale deployment of AMI as well as Cyan's leadership position in the AMI space in India.
"In addition, we are highly encouraged by the successful demonstration of Cyan's interoperable solution in the Trichy pilots. We believe our solution is very well placed to result in orders for our meter manufacturer partners and will provide a further update as soon as publicly disclosable information is available."
Enquiries:
Cyan Holdings plc John Cronin, Executive Chairman www.cyantechnology.com | Tel: +44 (0) 1954 234 400 |
Cenkos Securities plc NOMAD and Joint Broker Stephen Keys / Adrian Hargrave | Tel: +44 (0)20 7397 8900
|
XCAP Securities plc Joint Broker Jon Belliss / Adrian Kirk | Tel: +44 (0)20 7101 7070 |
Walbrook PR Bob Huxford Paul Cornelius | Tel: +44 (0)20 7933 8780 bob.huxford@walbrookpr.com paul.cornelius@walbrookir.com |
About Cyan
Cyan is an integrated system design company delivering mesh based flexible wireless solutions for utility metering, lighting control & industrial telemetry. For more information, please visit www.cyantechnology.com.
About CyLec
CyLec is a complete control and communication network for electricity metering. CyLec uses wireless technology to enable the collection and delivery of data from and to a meter, such as energy profiles, instant readings and the sending of tariff updates. Priority data can also be sent back to the utilities such as information regarding tampering enabling the utility to take action immediately.