Initial Order
November 11 2010 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 9815V
Cyan Holdings Plc
11 November 2010
11th November 2010
Cyan Holdings Plc
("Cyan" or "the Group")
Order Update: India Public Lighting Control
Cyan Holdings plc (AIM:CYAN.L), announces that it has received an important
initial order for wireless monitoring and control of outdoor public lighting in
India. Cyan manufactures a range of module products that implement wireless
utility metering and lighting control systems.
The initial order is for 10,000 units, marks the start of an installation
programme and represents only around 10% of the total number of lights in a
single project. 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 expected to be used for both the remaining lights already
contracted for installation on this project and have been proposed for use in a
number of additional lighting projects for the same customer in other cities.
Street Lighting has been identified in many countries as a priority target to
facilitate reduction in energy usage. Financial incentives are offered to drive
this result, making measurement of energy saving a crucial feature for any new
low energy lighting installation. Cyan wireless control systems not only monitor
energy usage of individual lights but enable user programming of lighting
profiles. Such profiles take account of sunset and sunrise, dimming at pre-set
times during the night, weekday or weekend, and even public holidays, thus
minimising the energy required to provide a given level of required lighting and
clearly using far less energy than a simple on-off time switch.
Cyan lighting control products are currently predominately being assessed to
measure and enhance the energy savings achievable in new installations of low
energy lighting technologies such as LED and HID lights. In new installations,
dimming enables an exact match between the lighting intensity specified and that
produced by the selected light, thus minimising energy usage for each individual
light within the network. However, because Cyan lighting control products have
the capability to dim many different types of lighting, including traditional
Sodium lighting, we also have the capability to allow customers to retrofit Cyan
units to an already installed base of existing Sodium lights, a potentially far
larger market than new build installation projects.
In addition, as announced on 1 September 2010, the Company entered into
non-binding heads of terms relating to the issue of a convertible loan note,
subject to the agreement of final terms and documentation. Whilst negotiations
have been carried out between the parties in good faith, it has not been
possible to agree final terms and documentation and the Directors have resolved
not to pursue this further.
Kenn Lamb, CEO of Cyan Holdings plc commented:
"Realising and measuring energy saving is a requirement for this class of
lighting installation and Cyan has developed a system that delivers a low cost,
wireless, energy saving and measurement solution. Cyan lighting control
solutions are easy to deploy, are user programmed and controlled over the
existing mobile phone network. Cyan now offers map based remote management
systems that allow individual light locations to be identified on interactive
maps that display current status, and enable remote control of individual lights
and changes to lighting profiles."
"This order confirms that the technology that Cyan has developed for lighting
monitoring and control can be quickly and easily deployed into a wide range of
street light products and lighting technologies. The additional cost of Cyan's
lighting control product can be quickly recovered through incremental energy
saving achieved through implementing lighting profiles; payback times for
complete installations of new low energy lighting can be a little as 24 months,
and Cyan lighting control systems can further reduce this by around 3 months.
Monitoring actual energy usage is of increasing importance for lighting system
installation companies who receive incentive payments based on energy savings
actually realised."
"Through multiple trials working with a broad range of customers in different
countries, Cyan has developed a range of exciting additional features that
complement our core offering. Customers can enhance the benefits of adding
wireless connectivity and reduce the payback period, making Cyan an even more
cost effective option. As the year progresses I am confident that Cyan will make
further announcements of initial 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 / Adrian | |
| Hargrave | |
| | |
+------------------------------+---------------------------------------+
| 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
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