Order Update (8540O)
September 26 2011 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 8540O
Cyan Holdings Plc
26 September 2011
26 September 2011
Cyan Holdings Plc
("Cyan" or "the Company")
Order Update: China Public Lighting Control
Cyan Holdings Plc (AIM:CYAN.L), the integrated system design
company delivering mesh based flexible wireless solutions for
lighting control, utility metering and industrial telemetry
announces that it has received a further follow on order from a
previously announced Chinese Lighting customer.
This order is for a further 20,000 modules, for a project
requiring over 220,000 units in a single city, which is now managed
under a new Energy Management Contract 'EMC'. This is one of
several such EMC contracts that this customer expects to win,
further to having established a new company in partnership with a
government funded investment company.
Cyan has been notified that this customer is making preparations
for two new projects in two further cities totalling 150,000 units,
with initial installation of these 150,000 units scheduled for
early 2012. This is consistent with our previous understanding that
once the EMC Company had been formed, further contracts for
multiple cities were expected to be awarded. The customer has also
confirmed that it has numerous future projects at earlier
stages.
Furthermore Cyan is pleased to report that the Beijing
Government has approved a small trial of the Company's lighting
control system.
Kenn Lamb, CEO of Cyan Holdings Plc commented:
"This news demonstrates that Cyan is delivering a complete
lighting control system and that our product is able to adapt to
specific and changing end user requirements. A customer that is
using a lighting management system which has been adapted to their
specific requirements is unlikely to want to change to a new
system. Moreover, even if another supplier could develop an
equivalent price competitive hardware product to ours, persuading
the customer to adopt a new management system would be
difficult.
"I believe that this management system further consolidates
Cyan's hold on this particular business. Similarly, this news
supports our expectation that once deployment has initiated in a
city, Cyan lighting control products are likely to be used for the
entire City. As previously announced, we again have confirmation
that new orders for new cities should be placed in Q4."
Cyan Holdings Plc Tel: +44 (0) 1954 234 400
Kenn Lamb, CEO
www.cyantechnology.com
Cenkos Securities Plc Tel: +44 (0)20 7397 8900
NOMAD and Joint Broker Tel: +44 (0)20 7101 7070
Stephen Keys / Adrian Hargrave
XCAP Securities Plc
Joint Broker
Jon Belliss / Parimal Kumar
Hansard Tel: +44 (0)20 7245 1100
Financial PR
Adam Reynolds / Guy McDougall
This information is provided by RNS
The company news service from the London Stock Exchange
END
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