Cyanconnode Regulatory News (CYAN)

31 Mar 2009 07:00



Cyan Holdings plc ("Cyan" or the "Company")

Significant New Contracts

Cyan Holdings Plc (AIM: CYAN.L), a fabless semiconductor company providing configurable application software and production ready modules based on feature rich, low power, microcontroller chips, is delighted to announce it has received orders for delivery in 2009 with a cumulative value in excess of $1M. 

The Company has received an order for 50,000 automated meter modules incorporating Cyan microcontrollers and proprietary networking software. The order comprises over 700 units already paid for, plus the balance of the 50,000 units scheduled for delivery in batches between July and December. This order, is for an established Chinese meter manufacturer with an existing installed base of such meters, but this customer is bidding on projects that might realistically involve further orders of up to another 130,000 units during 2009. The Cyan automated meter modules have exceptionally wide applicability within the utility supply industry and are currently being evaluated by 15 separate utility companies in China and India.

In addition, the Company has received an order for 10,000 Street Lamp controller modules that also incorporate Cyan microcontrollers and proprietary networking software. The order comprises 2,000 units to be delivered in July, plus a further 8,000 units for delivery in batches by year end. While this initial order is subject to final field testing, the Cyan units have passed similar field tests and the Chinese company concerned is bidding on contracts for in excess of one million units for delivery during 2009-10. Meanwhile, another larger and well established Chinese Street Lamp supplier is expected to schedule field trials that if successful presents Cyan with the possibility of an initial 500,000 unit order in 2009 for delivery in 2010.

In Europe, Cyan has received an order for 5,000 microcontrollers and an LoI for a further 20,000 microcontrollers to be incorporated within a jointly designed gateway for automated metering networks. Cyan's own or jointly designed gateway products are being evaluated in several European countries, as well as in North America. The market for such modules for any individual European company is likely to run into the hundreds of thousands per annum.

Cyan has also received an initial order for 20,000 microcontrollers with 10,000 units paid in advance for use in a USB Printer application. The product has been developed by a Hong Kong based design company for an end customer who has, subject to the success of the product, indicated an initial requirement for 100,000 units in 2009.

Kenn Lamb, CEO of Cyan said, "While these are clearly challenging times, there is a very real feeling of progress within Cyan, and a recognition that the Company's module based strategy offers the prospect of near-term traction in the market place. There are a number of further exciting opportunities, particularly in the field of RF enabled microcontrollers, where we are working closely with Micrel amongst others, and in the field of demand control products for regions with insufficient electricity generation capacity. These opportunities, currently at an early stage of development, offer the prospects of very substantial markets for Cyan products, and it is clear that we now have products which offer a real competitive advantage to our customers, in some cases representing the only viable technical solution to a particular set of problems."

www.cyantechnology.com

Enquiries:

Cyan Holdings plc

Kenn Lamb, CEO Tel: +44 (0) 1954 234 400

Cenkos Securities plc

Stephen Keys/Adrian Hargrave Tel: +44 (0)20 7397 8900

www.cenkos.com

Media enquiries:

Hansard Group

John Bick/Adam Reynolds Tel: +44 (0)20 7245 1100 

Notes to Editors 

Based in Cambridge in the UK, Cyan Holdings plc is a fabless semiconductor company specializing in the development of applications solutions collectively known as "Cy Solved(TM)" which are built upon the company's low powered, configurable eCOG1k and eCOG1x microcontroller chips. 

Cy-Solved incorporates ready to go solutions, software stacks, applications examples, modular software based on easy to use APIs, evaluation boards and production hardware modules from partners, all pulled together through Cyan's free integrated development environment CyanIDE(TM). Cy-Solved can be incorporated as-is into an application but also supports an ability to be easily customised - either way giving users a head start on the road to market. Currently available Cy-Solved applications include RF-Solved, USB-Solved, Ethernet-Solved and Motor Control-Solved. 

The Company was founded in 2002 and listed on AIM in 2005. Cyan Holdings plc operates through the brand 'Cyan'.