Last checked at 15 Apr 2024 07:00
15 April 2024
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Order For A New Deployment In India
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 for 265,331 Omnimesh Modules from Madhyanchal One Infrastructure Private Limited, a subsidiary of IntelliSmart Infrastructure Private Limited (IntelliSmart). In addition to the modules, the order 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 new smart metering deployment for Madhyanchal Vidyut Vitaran Nigam Ltd (MVVNL), a utility located in Lucknow, India. This is the fifth order received under a Strategic Framework Agreement, which was signed in February 2023. These orders support the deployment of smart metering for five different utilities, thereby increasing CyanConnode's footprint in India as the nationwide rollout of smart meters gains momentum.
The supply of Omnimesh Modules for this project is expected to commence during Q1 FY 2025, and the supply of all hardware is expected to be completed during FY 2025. 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 announce a fifth order from IntelliSmart received under the Strategic Framework Agreement. CyanConnode's influence in India continues to grow as the nationwide rollout of smart meters gains momentum. This order takes our cumulative order book for India to 6.6 million Omnimesh modules, of which we have successfully delivered 2.8 million modules by the end of FY 2024."
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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/