Last checked at 25 May 2023 08:10
25 May 2023
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Order for 600,000 Omnimesh Modules
CyanConnode Holdings plc (AIM: CYAN), a global leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce the receipt of an order from Paschimanchal Infrastructure Pvt Ltd, a subsidiary of IntelliSmart Infrastructure Private Ltd, for 600,000 Omnimesh Modules. The order also includes Advanced Metering Infrastructure (AMI), Standards-Based Hardware, Services, Omnimesh Head-End Software, a Perpetual License, and an Annual Maintenance Contract. The order will support a smart metering deployment in the utility, Pachimanchal Vidyut Vitran Nigam Ltd (PVVNL), located in Uttar Pradesh, India.
The supply of Omnimesh Modules for this project is expected to commence during the next quarter, and the deployment will be completed within 27 months, under a DBFOOT (Design, Build, Finance, Own, Operate, Transfer) model. A support and maintenance contract will be in effect for a period of seven and a half years after the go-live stage.
John Cronin, Executive Chairman of CyanConnode, commented:
"We are delighted to have received this order from Pachimanchal Infrastructure, which also aligns with the State Government of Uttar Pradesh's vision of ensuring uninterrupted power supply for its citizens. This order signifies a significant milestone, as it will bring the total number of Omnimesh Modules deployed in India to 4.2 million, with over 1.3 million of those modules already deployed and operational. We look forward to the implementation of this important project and delivering upon our commitment."
IntelliSmart, commented:
"IntelliSmart, a leading smart metering and digital solutions provider, has established itself as a leader with a proven record of project implementation. As we expand, our subsidiary, Paschimanchal Infrastructure, is being built on the same values and pillars as IntelliSmart and we will remain committed to timely delivery of the largest smart metering project tendered so far in the country. We are pleased to partner with CyanConnode in keeping with the LOA to meet the AMI requirements."
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Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 865 750
John Cronin, Executive Chairman www.cyanconnode.com
Strand Hanson Limited (Nominated and Financial Adviser) Tel: +44 (0) 20 7409 3494
James Harris, Richard Johnson, David Asquith
Zeus Capital Limited (Broker) Tel: +44 (0) 20 3829 5000
Simon Johnson, Alexandra Campbell-Harris
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
IntelliSmart Infrastructure Private Limited is India's leading smart metering and digital solutions provider. It is a joint venture of National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL), established with the core purpose of becoming the most preferred digital partner of the utilities. Our organisational culture is built on the core values of Integrity, Respect, Innovation and Sustainability, which influence our everyday endeavours and collective practices.
IntelliSmart, as a digital solutions provider, aims to create a difference in the power distribution sector with digital interventions while shouldering the responsibility of mass-scale rollout of smart meters under RDSS. With smart meter infrastructure, consumer data management and AI/ML-based analysis, the company seeks to create considerable value for state utilities by enabling them to develop additional revenue sources. In the long run, smart metering will help create a robust, resilient, flexible smart grids that can integrate renewable energy seamlessly to meet India's growing power demand.
Website: https://www.intellismartinfra.in/
The information contained within this announcement is deemed to constitute inside information for the purposes of Article 7 of EU Regulation 596/2014 (Market Abuse Regulations) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.