Significant New Contracts
March 31 2009 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 7588P
Cyan Holdings Plc
31 March 2009
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'.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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