Last checked at 25 Jul 2013 07:00
25 July 2013
Cyan Holdings plc
("Cyan" or the "Company")
Strategic Partnership Agreement with Ilumatic S/A Brazil
Initial order from Ilumatic for $135,000
Cyan Holdings plc (AIM: CYAN.L), the integrated system design company delivering wireless solutions for lighting control and utility metering announces that it has formed a strategic partnership with Ilumatic to collaborate in the development, supply and delivery of CyLux®, Cyan's energy efficient smart lighting solution, within Brazil. The agreement also includes an order for $135,000.
Cyan and Ilumatic S/A have entered into a Strategic Partnership Agreement to provide Brazil's municipalities with CyLux®. This includes a $135,000 order from Ilumatic comprising of a significant initial upfront payment as well as complete funding to adapt, qualify and certify Cyan's CyLux® products to meet the RF spectrum standards in Brazil. This funding will rapidly accelerate Cyan's strategic entry into this significant market while being cost neutral and resource light for Cyan.
Ilumatic is focused on the development and manufacture of energy efficient street lighting products and is a well-established name within the fast-growing Brazilian market as one of the three leading lighting manufacturers. The lighting market across Latin America is estimated to reach in the region of $8bn by 2020, of which lighting control systems will account for approximately $153m*.
Nelson d'Arrigo, General Manager, Ilumatic, commented: "In Brazil demand is growing for automated, energy saving lighting control systems. We conducted a thorough review of the lighting control market and were delighted with Cyan's solutions. Cyan's CyLux® technology is ideal in that it is optimised for emerging markets, has low power consumption and is compatible with all lighting technologies."
John Cronin, Executive Chairman, Cyan Technology commented: "We are very pleased to be partnering with Ilumatic which is a well-respected name in Brazil across sectors including government, energy utilities, construction and engineering. The lighting market across Latin America is growing at a rapid rate and this agreement, in line with the Company's strategy of building key partnerships in our target markets, offers a significant opportunity for Cyan's lighting products to complement our current smart-metering opportunities in India."
*McKinsey & Company, Lighting the way: Perspective on the global lighting market (http://www.mckinsey.com/)
Enquiries:
Cyan Holdings plc John Cronin, Executive Chairman www.cyantechnology.com | Tel: +44 (0) 1954 234 400 |
Cenkos Securities plc NOMAD and Joint Broker Stephen Keys / Adrian Hargrave | Tel: +44 (0)20 7397 8900
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XCAP Securities plc Joint Broker Jon Belliss / Adrian Kirk | Tel: +44 (0)20 7101 7070 |
Walbrook PR Bob Huxford Paul Cornelius | Tel: +44 (0)20 7933 8780 bob.huxford@walbrookpr.com paul.cornelius@walbrookir.com |
About Ilumatic
Formed in 1962 and acquired by the Intral® Group in 2008, Ilumatic is focused on the development and manufacture of sustainable, energy efficient street lighting products.
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 CyLux®
CyLux® is Cyan's energy efficient smart lighting solution. It enables significant savings by optimising the way in which public lighting is managed. CyLux is compatible with all the latest lighting technologies including HPS, HID and LED. The CyLux web portal provides a central monitoring and control interface that scales to city and state wide deployments.