Last checked at 5 Mar 2014 07:00
Cyan Holdings plc ("Cyan" or the "Company")
First CyLec®Retrofit Pilot Deployment in Brazil
Cyan Holdings (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces its first pilot deployment in Brazil for its smart metering solution CyLec®.
In December 2013, Cyan launched the CyLec retrofit module, which is specifically designed to provide smart metering functionality to static electricity meters in Brazil. The module is a small self-contained box that connects to an installed meter via an existing communications interface on the meter. Cyan's product provides a cost effective solution to enable utilities to upgrade from 'dumb' meters to Cyan's CyLec communication platform. With the addition of data concentrator units, the CyLec product can be migrated from a 'walk-by automated meter reading' solution to full advanced metering infrastructure ("AMI").
Following final certification from ANATEL (Agência Nacional de Telecomunicações) for CyLec products in Brazil, Cyan's partner has deployed a full AMI solution on a pilot basis using the CyLec retrofit module. The partner in Brazil has initially installed a small number of retrofit units to existing meters for an unnamed utility, with further pilot units anticipated to be installed later. This utility will evaluate the technology's various advantages, including functions such as remote disconnect and tamper alerts, in addition to allowing the utility to remotely monitor usage over the next several months.
According to GlobalData's latest report*, smart meter market revenues in Brazil will increase tenfold, from $36m in 2013 to $432m by 2020. The main market drivers for this projected growth are the need to upgrade grid reliability and power outages, and to improve the integration of renewable energy generation into the system, reducing per-capita power consumption. In addition, with power theft as high as 20% in some Brazilian regions, local authorities are currently pursuing investments in smart meters, as the technology provides a simpler way for companies to track such activity.
John Cronin, Executive Chairman, Cyan Technology commented: "We are very pleased to have the first deployment for our retrofit solution installed in the field. With a metering partner in place in Brazil as well as the certification from ANATEL, Cyan's technology is ready and able to help address the local authorities' requirement to reduce power theft across this considerable market."
* "Smart Grid Market in North and South America - Key Issues, Regulations, Current Market Outlook and Key Equipment Market Size to 2020" GlobalData, January 2014
Enquiries:
Cyan Holdings plc John Cronin, Chairman | www.cyantechnology.com Tel: +44 (0) 1954 234 400
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Allenby Capital Ltd - Nominated Adviser and Joint Broker Jeremy Porter / Mark Connelly | Tel: +44 (0) 20 3328 5656
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Hume Capital Securities plc - Joint Broker Jon Belliss | Tel: +44 (0) 20 7101 7070 |
Walbrook PR - Financial PR Paul Cornelius | Tel: +44(0) 20 7933 8780
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About Cyan
Cyan is an integrated system design company delivering mesh based flexible wireless solutions for utility metering, lighting control & industrial telemetry. For more information, please visit www.cyantechnology.com.
About CyLec®
CyLec is a complete control and communication network for electricity metering. CyLec uses wireless technology to enable the collection and delivery of data from and to a meter, such as energy profiles, instant readings and the sending of tariff updates. Priority data can also be sent back to the utilities such as information regarding tampering enabling the utility to take action immediately.