CYAN Cyanconnode Holdings Plc

 

TIDMCYAN 
 
RNS Number : 6747N 
Cyan Holdings Plc 
16 June 2010 
 

 16 June 2010 
 
                                Cyan Holdings Plc 
                            ("Cyan" or "the Group") 
 
                    Order Update: India Electricity Metering 
 
Cyan Holdings plc (AIM:CYAN.L), announces that it has received an important 
initial order for wireless monitoring of electricity meters in India.  Cyan is a 
fabless semiconductor company providing wireless utility metering and lighting 
control products based on its feature rich, low power, microcontroller chips. 
 
The initial order of 10,000 units represents one of the smallest of several 
tenders that Cyan understands are currently open in the Indian market. The end 
customer is a global tier 1 meter manufacturer.  This customer was sourced by 
our partner Future Electronics which secured the order on behalf of Cyan and 
continues to provide local support. 
 
Cyan products are being quoted into further tenders from both this and other end 
customers.  The tenders range in size up to 100,000 units, several of which, 
like this order, are understood to require installation this year.  The tenders 
are a necessary pre-condition for attacking a market which Cyan believes will 
run to multi-million annual installation of both new and replacement meters. 
 
Cyan has been working with a number of established meter manufacturers in India 
since early 2009 in anticipation of an increasing demand for wireless and 
specifically mesh connected meter reading and monitoring solutions from utility 
companies. 
 
Several manufacturers have, in recent months, reported a substantial increase in 
the volume of tenders for wireless electricity meters with increasing demand for 
mesh connection capability. Cyan has developed a product specifically for the 
Indian market that offers point to point ("P2P") meter reading from a handheld 
reader. This product matches the functionality of some existing wireless systems 
but also offers the ability to access meters from an office at any time over the 
mobile telephone network. 
 
Because the Cyan wireless meter product supports the existing meters' 
communication protocol it provides an easy interface to different manufacturers' 
existing meter hardware. Existing systems can be upgraded at installation, or at 
a later date to support both remote access and mesh operation. 
 
Cyan has also incorporated a number of features developed for other markets 
including data encryption and usage profiling, the latter will help reduce the 
proportion of energy lost to theft. The exact proportion of electricity not paid 
for is unknown, but the problem is widespread and estimates for India are in the 
region of 30% to 40% of all electricity generated. Cyan has successfully 
demonstrated features that, from customer comments, it believes will 
significantly assist in reducing this figure. 
 
Cyan believes that the ease of adoptability its product offers, confers a 
substantial strategic advantage upon the Company as it is asked to bid on new 
tenders. The Cyan product not only matches the functionality of some of the 
principal existing systems used by Indian utilities, but crucially allows an 
"over the air" upgrade to already installed meters, providing for remote office 
access and full mesh networking. Compatibility with existing meter hardware and 
the phased introduction of new wireless features reduces barriers to early 
adoption by utility companies and minimises the risk of installing meters that 
become obsolete as mesh networking becomes widespread. 
 
Kenn Lamb, CEO of Cyan Holdings plc commented: 
 
"This order confirms that the technology that Cyan originally developed for the 
gas metering market in China can be deployed in a broad range of utility 
metering markets globally. By developing low-cost, mesh connected products that 
work in frequency bands offering greater range and penetration within buildings, 
Cyan now has a core technology that is particularly applicable to utility 
metering and lighting." 
 
"Through multiple trials working with a broad range of customers in different 
countries, Cyan has developed additional features that when layered on top of 
our core capability enhance the benefits of adding wireless connectivity, and 
reduce the payback period making Cyan the more cost effective option. As the 
year progresses I am confident that Cyan will make further announcements of 
initial and repeat volume orders in lighting and metering markets around the 
world." 
 
www.cyantechnology.com 
 
 
Enquiries: 
 
+------------------------------+---------------------------------------+ 
| Cyan Holdings plc            | Tel: +44 (0) 1954 234 400             | 
| Kenn Lamb CEO                |                                       | 
|                              |                                       | 
+------------------------------+---------------------------------------+ 
| Cenkos Securities plc        | Tel: +44 (0)20 7397 8900              | 
| Stephen Keys / Camilla Hume  |                                       | 
|                              |                                       | 
+------------------------------+---------------------------------------+ 
| Hansard Communications Ltd   | Tel: +44 (0)20 7245 1100              | 
| John Bick / Kirsty Corcoran  | Tel: +44 (0) 7872 061007              | 
+------------------------------+---------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCZMGMVVKGGGZM 
 

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