Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCyanconnode Regulatory News (CYAN)

Share Price Information for Cyanconnode (CYAN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 9.00
Bid: 8.80
Ask: 9.20
Change: 0.00 (0.00%)
Spread: 0.40 (4.545%)
Open: 9.00
High: 9.00
Low: 9.00
Prev. Close: 9.00
CYAN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Key MOU with Intellismart

26 May 2021 07:00

RNS Number : 8029Z
CyanConnode Holdings PLC
26 May 2021
 

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Key MOU with Intellismart

CyanConnode, a world leader in Narrowband Radio Frequency Smart Mesh Networks, is pleased to announce that it has signed a MOU (Memorandum of Understanding) with Intellismart, (Intellismart Infrastructure Private Limited), a joint venture company formed by EESL, (Energy Efficiency Services Limited), and NIIF, (National Investment and Infrastructure Fund).

Intellismart is a Meter Asset Provider which deploys smart meters by funding CAPEX, which it then recovers through an OPEX model. Intellismart is focusing on expediting the deployment of 250 million smart meters across India and it can operate at scale by leveraging the expertise and capital of EESL and NIIF. Under the MOU, CyanConnode and Intellismart will work on existing EESL and Intellismart projects as well as new ones, in India and international markets.

EESL is promoted by the Ministry of Power (the Government of India) as a Joint Venture of four public sector undertakings, whilst NIIF is a collaborative investment platform for international and Indian investors, which is anchored by the Government of India and it manages over USD 4.5 billion of equity capital.

This collaboration will leverage CyanConnode's market-leading RF mesh technology as well as EESL and Intellismart's experience delivering innovative large-scale projects.

 

John Cronin, Executive Chairman, CyanConnode, commented:

"I am delighted to announce this MOU with Intellismart, which builds upon our existing relationship with EESL. Intellismart, supported by EESL and NIIF, have an in-depth knowledge of the Indian smart metering market and have significant experience operating smart metering OPEX models.

"CyanConnode Pvt Limited, our Indian subsidiary, continues to operate in line with expectations during this latest wave of Covid. My thoughts are of course with the Indian people during this difficult time.

 

I look forward to a successful, collaborative partnership with Intellismart in both India and around the world."

 

 

Enquiries:

 

CyanConnode Holdings plc Tel: +44 (0) 1223 225 060

John Cronin, Executive Chairman www.cyanconnode.com

Arden Partners plc (Joint Broker) Tel: +44 (0) 20 7614 5900

Paul Shackleton / Dan Gee-Summons (Corporate Finance)

Simon Johnson (Corporate Broking)

 

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 Intellismart Infrastructure Private Limited

To give a fillip to the Government of India's vision of converting all the conventional electricity meters to smart meters in the next few years, EESL (Energy Efficiency Services Limited, A Joint venture of PSUs of Ministry of Power, Government of India) along with NIIF (National Investment and Infrastructure Fund, a Government of India, sovereign fund) has formed a JV company - IntelliSmart Infrastructure Private Limited or "IntelliSmart". It will enable implementation of Smart meters through BOOT (Build. Own. Operate. Transfer) model to expedite the deployment, which shall replicate the EESL success so far on the same model. The focus of IntelliSmart would be to drive efficiencies for DISCOMs, improve revenue management, increase billing efficiency and consumer satisfaction.

 

Formed in 2019, the company, for the implementation of smart metering is functioning like a global Meter Asset Provider ("MAP"), which deploys smart meters for the utilities by funding the entire capex and recovers this via a lease model (PAYS - Pay As You Save in this case). Also, as an evolving knowledge sharing platform for digital solutions pertaining to the power and distribution sectors, IntelliSmart acts as a key player in introducing financial and operational efficiencies in this space.

 

The Government of India plans to install 25 crore smart meters in the next few years. With the replacement of 25 crore conventional meters with smart meters, billing read and collection efficiency can improve to 100 percent, and has the potential to increase DISCOM revenues by INR ~1,000 billion annually. With a focus on expediting the deployment of smart meters across the country, IntelliSmart is operating at scale by leveraging the expertise and capital of both the shareholders, EESL and NIIF. IntelliSmart is working collaboratively with all stakeholders to procure, deploy and provide operations and maintenance for the smart meter infrastructure.

 

For more information, please visit www.intellismartinfra.in

 

 

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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTBELLLFELXBBB
Date   Source Headline
15th Jan 20247:00 amRNSAppointment of Non-Executive Director
11th Jan 20247:00 amRNSOrder For One Million Omnimesh Modules
27th Dec 20234:18 pmRNSDirector Dealing
19th Dec 20237:00 amRNSInterim Results
6th Dec 20231:32 pmRNSChange of Registered Office
1st Dec 20234:18 pmRNSHolding(s) in Company
21st Nov 20232:31 pmRNSHolding(s) in Company
20th Nov 20236:14 pmRNSIssue of Share Options – Correction
20th Nov 20237:00 amRNSNamed as One of the Fastest Growing Companies
17th Nov 20233:45 pmRNSDirector Option Grants
17th Nov 20238:30 amRNSHolding(s) in Company
16th Nov 202312:48 pmRNSHolding(s) in Company
15th Nov 20237:00 amRNSRanked 2nd Fastest-Growing UK Company in India
13th Nov 20236:11 pmRNSPlacing and Subscription – update
9th Nov 20238:02 amRNSResult of Oversubscribed Placing and Subscription
8th Nov 20235:24 pmRNSProposed Placing and Subscription to Raise c.£2.5m
31st Oct 20237:15 amRNSContract in the Middle East and North Africa
10th Oct 20237:00 amRNSOrder for 300,000 Omnimesh Modules
5th Oct 20237:00 amRNSTrading Update
24th Aug 202312:18 pmRNSResult of AGM
17th Aug 20231:00 pmRNSHolding(s) in Company
15th Aug 20237:00 amRNS2023 Annual General Meeting
4th Aug 20235:34 pmRNSDirector Dealing
2nd Aug 20237:00 amRNSOrder for 300,000 Omnimesh Modules
26th Jul 20235:34 pmRNSCorrection: Final Results
26th Jul 20237:00 amRNSFinal Results
25th Jul 20237:00 amRNSNotice of Results & Investor Presentation
6th Jul 20237:00 amRNSTrading Update
22nd Jun 20237:00 amRNSCyanConnode India is a Start-Up 50 Trailblazer
25th May 20238:10 amRNSOrder for 600,000 Omnimesh Modules
9th May 20233:45 pmRNSHolding(s) in Company
17th Apr 20237:00 amRNSInterview with MD & CEO for CyanConnode India
3rd Apr 20237:00 amRNSCyanConnode and Alfanar Sign MOU for AMI projects
21st Mar 20237:15 amRNSHardman Research - Acceleration and revenue uplift
13th Mar 20237:00 amRNSCyanConnode Banking Arrangements
7th Mar 20237:00 amRNSCollaboration with Silicon Laboratories
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

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.