Substantial Metering Order in India (5081D)
May 17 2012 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 5081D
Cyan Holdings Plc
17 May 2012
Cyan Holdings plc
("Cyan" or the "Company")
Substantial Metering Order in India
-- Cyan receives purchase order exceeding US$1M for CyLec(R) products
-- Order will fulfil initial stages of a number of projects with several utilities
Cyan Holdings plc (AIM:CYAN.L), the integrated system design
company delivering wireless solutions for lighting control and
utility metering, announces an order exceeding US$1M, from a major
metering customer in India.
Cyan has previously worked closely with this customer, in
conjunction with several of its System Integrator (SI) partners in
India, to provide an interoperable solution capable of Advanced
Metering Reading (AMR) and Automated Metering Infrastructure (AMI).
The integration of Cyan's CyLec products is now complete and the
customer has placed an order to fulfil several projects during the
second half of 2012, across a range of utilities. These projects
will embrace some key features for the Indian utility metering
market, such as tamper detection and remote disconnect.
Bijan Mohandes, VP Worldwide Sales & Marketing commented,
"This significant order marks an important step in the adoption of
CyLec as a standard for smart electricity metering across India;
Cyan has established key strategic partnerships with meter
manufacturers, SI partners and utility providers in the country.
This has resulted in these various parties promoting Cyan solutions
due to the equipment's ability to be easily integrated and provide
continuous revenue streams via licensing."
John Cronin, Non-Executive Director*, added "I am delighted to
see this substantial purchase order from an Indian metering
customer being received at Cyan. The order will be transformational
in terms of market and customer perception of Cyan and marks a
clear turning point in the Company's history. I look forward to
providing the market with further positive news after I take over
as Executive Chairman."
*John Cronin is currently a Non-Executive Director and will take
over the role of Executive Chairman from John Read at the Annual
General Meeting later today.
http://www.cyantechnology-ir.com/html/investors/agm.asp
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Non-Executive Director* Tel: +44 (0) 1954 234 400
Cenkos Securities plc
NOMAD and Joint Broker
Stephen Keys / Adrian Hargrave Tel: +44 (0) 20 7397 8900
XCAP Securities plc
Joint Broker
Jon Belliss / Adrian Kirk Tel: +44 (0) 20 7101 7070
Newgate Threadneedle
Financial PR
Caroline Evans-Jones / Guy McDougall Tel: +44(0) 20 7653 9850
About Cyan Cyan is an integrated system design and software
company delivering mesh based flexible wireless solutions for
utility metering and lighting control. The Company has been listed
on London's Alternative Investment Market (AIM) since 2005. Cyan's
headquarters are in Swavesey, Cambridge, UK. For more information,
please visit www.cyantechnology.com.
CyLec
Cyan's CyLec technology provides a complete control and
communication network including user interface. CyLec offers
point-to-point and mesh network solutions for metering
applications. CyLec is a trademark of Cyan Technology Ltd.
CyLux
Cyan's CyLux technology provides a complete control and
communications network including user interface. CyLux is a control
system allowing lighting manufacturers to build and sell RF
controlled street and tunnel lighting. CyLux is a trademark of Cyan
Technology Ltd.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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