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Pin to quick picksCyanconnode Regulatory News (CYAN)

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CyanConnode signs MoU with Hexing

5 Aug 2019 07:00

RNS Number : 8185H
CyanConnode Holdings PLC
05 August 2019
 

 

5 August 2019

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

CyanConnode signs MoU with Hexing

 

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with Hexing Electrical Co. Ltd (Hexing).

 

Hexing, established in 1992, is a multi-national manufacturing company that supplies Utilities in more than 80 countries across the world, with headquarters in Hangzhou, China.

 

CyanConnode and Hexing have agreed to collaborate and deliver smart metering solutions in certain territories. As part of the collaboration, Hexing will integrate CyanConnode's RF Modules with its meters and CyanConnode's Omnimesh Advanced Metering Infrastructure (AMI) platform with Hexing's Meter Data Management System (MDMS), to create a cost-effective turnkey solution.

 

Bjorn Lindblom, Chief Commercial Officer, CyanConnode, commented:

"I am very pleased to announce that CyanConnode will be working with Hexing, who have a wealth of experience in delivering solutions to Utilities in more than 80 countries around the world.

 

"The Memorandum of Understanding will expand CyanConnode's geographical reach and introduce its products and services to new customers."

 

Fan Jianqing, GM of International Trade Department, Hexing, commented: "As a leading provider of advanced metering infrastructure, we are pleased to offer CyanConnode's IPv6-based Omnimesh solution as part of Hexing's portfolio. CyanConnode's RF Mesh technology provides a cost-effective, scalable communication network that can be integrated and deployed with ease."

 

In a recent report from MarketsandMarkets, revenue in the global smart meters market is expected to grow from $12.79 billion in 2017 to $19.98 billion by 2022, with Asia-Pacific estimated to be the fastest growing market*.

 

*https://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html

 

- Ends -

Enquiries:

 

CyanConnode Holdings plc

John Cronin, Executive Chairman

Tel: +44 (0) 1223 225 060

www.cyanconnode.com

Yellow Jersey PR (Financial PR) Felicity Winkles / Sarah Hollins/ Annabel Atkins

 

Tel: +44 (0) 20 3004 9512

cyanconnode@yellowjerseypr.com

Arden Partners plc (Broker and Nomad)

Paul Shackleton / Dan Gee-Summons (Corporate Finance)

Simon Johnson (Corporate Broking)

Tel: +44 (0) 20 7614 5900

 

 

About CyanConnode

CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication. As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.

 

In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.

 

Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.

For more information, please visit www.cyanconnode.com

 

About Hexing

Hexing, established in 1992, is a multi-national company offering a variety of electrical equipment and relevant solutions to global power utilities.

 

With more than two decades of industry experience, Hexing is dedicated to developing a customised, sustainable ecosystem for energy distribution companies including micro-grid with renewable energy, distribution automation and smart meter to cash collection resulting in effective revenue protection.

 

Today, more than 80 countries around the world are utilising Hexing products and solutions for a better tomorrow.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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NRASSSFSLFUSEDA
Date   Source Headline
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26th Jul 20237:00 amRNSFinal Results
25th Jul 20237:00 amRNSNotice of Results & Investor Presentation
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25th May 20238:10 amRNSOrder for 600,000 Omnimesh Modules
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21st Mar 20237:15 amRNSHardman Research - Acceleration and revenue uplift
13th Mar 20237:00 amRNSCyanConnode Banking Arrangements
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6th Mar 20237:00 amRNSAppointment of Nominated and Financial Adviser
6th Feb 20238:51 amRNSStrategic Framework Agreement - Replacement
6th Feb 20238:21 amRNSStrategic Framework Agreement
6th Feb 20237:00 amRNSStrategic Framework Agreement
31st Jan 20237:00 amRNSHolding(s) in Company
24th Jan 20238:00 amRNSResult of Oversubscribed Placing and Subscription
23rd Jan 20235:11 pmRNSProposed Placing and Subscription
19th Jan 20237:00 amRNSChange of Adviser
4th Jan 20237:00 amRNSOrder From New Partner
14th Dec 20227:00 amRNSInterim results
8th Dec 20227:00 amRNSInvestor Presentation
1st Dec 20227:00 amRNSTrading Update and Notice of Results
9th Nov 20227:00 amRNSHardman & Co - Indian smart meter programme update
27th Oct 20227:00 amRNSConference of Indian Power Ministers

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