Last checked at 14 Aug 2014 07:00
Cyan Holdings plc("Cyan" or the "Company")
Cyan signs Partnership Agreement with Dinsmore & Associatesto pursue opportunities in sub-Saharan Africa
Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that it has signed a non-exclusive Partnership Agreement with Dinsmore & Associates ("D&A").
D&A will act as a business development partner to identify opportunities for Cyan's smart metering, smart lighting and Machine-2-Machine ("M2M") solutions across the sub-Saharan African market. D&A will meet with potential partners and resellers independently to present Cyan's technology as well as assisting in the negotiation of commercial contracts with any opportunities that are taken forward.
Sub-Saharan Africa is set for continuous economic growth over the next decade and in order to sustain this growth, Africa requires significant investment in the power sector and rapid expansion of its electrification programs. As a result, the importance for electricity metering will undoubtedly increase as utilities seek to ensure financial sustainability through improved revenue collection. Cyan believes this will create a significant market opportunity for the Company, with spend on grid modernisation in South Africa forecast to reach $11 billion* over the next decade. D&A has already identified several near term partnership opportunities for smart metering and M2M solutions in this emerging target territory.
John Cronin, Executive Chairman at Cyan commented: "Cyan's focus is on emerging markets and we were pleased when D&A approached us to help market Cyan solutions in sub-Saharan Africa. With a number of commercial and pilot projects deployed in India and Brazil, Cyan is looking to transfer its successful business model to other emerging markets that face the same economic and technological challenges."
Paul Dinsmore, Director at D&A commented: "We are pleased to be partnering with Cyan to bring their solutions to the sub-Saharan African market. Cyan's recent customer wins in India with Tata Power and Essel Utilities, as well as the teaming agreement with Vodafone, brought the Company to my attention. Based on our initial interactions we will target customers in South Africa and think this is the optimal time for Cyan to enter D&A's local markets."
* Source: http://www.netcracker360.com/smart-grid-ranking-1.html
Enquiries:
Cyan Holdings plc |
|
John Cronin, Chairman | www.cyantechnology.com |
Allenby Capital Ltd - Nominated Adviser and Joint Broker | Tel: +44 (0) 20 3228 5656 |
Jeremy Porter / Michael McNeilly |
|
Hume Capital Securities plc - Joint Broker | Tel: +44 (0) 20 7101 7070 |
Jon Belliss |
|
Walbrook PR - Financial PR | Tel: +44(0) 20 7933 8780 |
Paul Cornelius
| cyan@walbrookpr.com |
About Cyan
Cyan is an integrated system design company based in Cambridge, UK. It provides a communication platform that enables the measurement and control of energy consumption for the metering and lighting markets, helping to reduce energy losses. Cyan's wireless mesh networking platform offers 'last mile' connectivity between millions of devices and enterprise software, supporting bilateral communications with the end customer. For more information, please visit www.cyantechnology.com.
About Dinsmore & Associates
Dinsmore & Associates is a boutique, bespoke market entry consultancy company. We support international companies interested in the African market, with a particular focus on South Africa. Founded in 2004, the company's main areas of expertise are facilitating international business linkage opportunities and business partnerships. For further information, please visit www.dinsmore.co.za