Update on TNEB Tender
June 14 2012 - 2:01AM
RNS Non-Regulatory
TIDMCYAN
Cyan Holdings Plc
14 June 2012
Cyan Holdings plc
("Cyan" or the "Company")
Update on TNEB tender
Final stage timeline
Cyan Holdings plc (AIM:CYAN.L), the integrated system and
software design company delivering mesh based flexible wireless
solutions for utility metering and lighting control today gives
further information regarding the timings of the Tamil Nadu
Electricity Board (TNEB) Automatic Meter Reading (AMR) tender.
Cyan has been informed that all 500 unit pilots will have
commenced by the first week in July 2012, at the latest. These
pilots will then be monitored for 60 days. It is expected that TNEB
will make a decision on selecting suppliers and technology used,
within 45 days of commencement of the pilots. Their decision will
be based on testing the technology as well as the interoperability
of the solution. Cyan believes that the next stage of the process
will be the placing of orders.
Vendors received an invitation letter from TNEB asking them to
advance towards the pilot stage. In the letter, TNEB have asked the
meter vendors to confirm their readiness for pilot participation.
The letter states that as soon as a vendor contacts TNEB to confirm
their readiness to participate, TNEB are ready to allocate the
pilot location. If the vendors respond to TNEB quickly enough,
pilots may start sooner than July 2012.
Parallel to this, meters are being tested at Central Power
Research Institute, India (CPRI) for type test as per the
specification laid down by TNEB, which will result in elimination
of some of the bidders. The results from the pilots along with
CPRI's report will guide TNEB to open price bidding with the
approved bidders, thereby negotiating with them and placing orders.
In summary, the successful completion of CPRI testing is essential
in order to progress to the next stage. CPRI's report is expected
by end of June 2012.
John Cronin, Executive Chairman at Cyan commented, "It is useful
to have some clarity over where we are in the tender process, which
is now edging towards its final stages and eventual conclusion. We
will continue to update shareholders as we receive information.
Whilst we are having to be patient, Cyan's partners remain in a
strong position and we are increasingly confident of a positive
outcome."
Cyan would also like to draw attention to a letter from the
Government of India's Central Electricity Authority. The letter
lays out the national specification requirements for Smart meters,
which Cyan is pleased to report matches exactly with the Company's
equipment specifications. This letter can be found at
http://www.cea.nic.in/reports/articles/god/cost_meter1.pdf or on
the Company website www.cyantechnology.com in
Library>Articles.
Enquiries:
Cyan Holdings plc Tel: +44 (0) 1954 234 400
John Cronin, Chairman
www.cyantechnology.com
-------------------------------------- -------------------------
Cenkos Securities plc Tel: +44 (0)20 7397 8900
NOMAD and Joint Broker
Stephen Keys / Adrian Hargrave
-------------------------------------- -------------------------
XCAP Securities plc Tel: +44 (0)20 7101 7070
Joint Broker
Jon Belliss / Adrian Kirk
-------------------------------------- -------------------------
Newgate Threadneedle Tel: +44 (0)20 7653 9850
Financial PR
Caroline Evans- Jones / Guy McDougall
-------------------------------------- -------------------------
The TNEB Tender
TNEB is one of the largest electricity distributors in India. In
November 2011, it published a tender for the supply of 1.5 million
meters as part of its consumer network upgrade programme. This
represents the first phase in what is anticipated to be a total
upgrade programme of 18 million meters.
CPRI
The Central Power Research Institute is an autonomous society
under Ministry of Power, Government of India. Set up in 1960 by the
Government of India, it functions as a centre for applied research
in electrical power engineering assisting the electrical industry
in product development, Consultancy and quality assurance. CPRI
also serves as an independent authority for testing and
certification of power equipment. CPRI's governing body includes
eminent professionals from industries, utilities, prestigious
academic and research institutions and the government.
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
NRAGGUUCQUPPGQW
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Jul 2023 to Jul 2024