Last checked at 1 Nov 2012 07:00
Cyan Holdings plc
("Cyan" or the "Company")
Cyan's integrated solution for advanced metering deployed by partner for Indian smart meter projectCyLec, Cyan's smart metering solution for energy utilities transforms existing power grid infrastructure into the smart grid
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 today announces that one of its partners is participating in the recently initiated, high profile smart grid project in Puducherry, India.
The smart grid pilot project is being led by the Power Grid Corporation of India Limited (PGCIL), a government of India enterprise and was recently inaugurated by Chief Minister N. Rangasamy in the presence of Power Minister T.Thiagrajan. The project is to install an Advanced Metering Infrastructure (AMI) solution in houses throughout Puducherry to support the electricity department's objective to save power. An AMI solution will enable the department to monitor online energy usage patterns as well as detect tamper events, e.g. energy theft. It is anticipated that consumers of Puducherry will also benefit from real-time accurate billing information to help manage their energy consumption.
Cyan's metering partner has deployed CyLec enabled meters in Puducherry for evaluation by PGCIL. The installation demonstrates CyLec®, Cyan's integrated solution for AMI and is expected to remain in place for up to six months. Cyan and its partner are working with a third party system integrator to provide a Meter Data Acquisition System (MDAS) platform to manage and present the data collected from the meters.
John Cronin, Executive Chairman of Cyan commented: "We are delighted that one of our meter manufacturer partners is involved in this project driven by PGCIL and look forward to providing the market with further updates as it develops. Yesterday's RNS concerning the exercise of warrants further demonstrates shareholder confidence in Cyan's market opportunity in India and provides additional funding for working capital purposes."
Further information regarding the project can be found at www.thehindu.com, 20 October 2012
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
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XCAP Securities plc Joint Broker Jon Belliss / Adrian Kirk | Tel: +44 (0)20 7101 7070 |
Newgate Threadneedle Financial PR Caroline Evans-Jones | Tel: +44 (0)20 7653 9842 |
About Cyan Technology
Cyan is an integrated system design and software company delivering mesh based flexible wireless solutions for utility metering and lighting control.
Cyan's technology provides innovative solutions that reduce energy consumption for the utility and lighting markets and includes CyNet™, CyLec® and CyLux®.
CyNet™ is a wireless mesh networking protocol for scalable and secure communication with remote units as well as Cyan's enterprise software for full end-to-end system integration. CyLec® is Cyan's smart metering solution for energy utilities. It provides a robust, scalable and integrated platform that enables utilities to transform existing power grid infrastructure into the smart grid. CyLux® is Cyan's energy efficient smart lighting solution. It enables significant power savings by optimising the way in which public lighting is managed.
Together with Cyan's System Integrator partners, Cyan provides first class support, managed services and Software as a Service (SaaS) to assist in the planning and integration of its solutions.