Cyan Holdings Plc Advanced Metering Infrastructure pilot (2190U)
December 24 2012 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 2190U
Cyan Holdings Plc
24 December 2012
Cyan Holdings plc
("Cyan" or the "Company")
Deployment of Advanced Metering Infrastructure pilot
and
Update on TNEB tender process
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, announces that
one of its strategic meter manufacturer partners in India has
deployed Cyan's integrated Advanced Metering Infrastructure ("AMI")
solution as a pilot for a leading integrated power company in
Mumbai.
Cyan's meter manufacturer partner has deployed single and three
phase CyLec(R) (Cyan's integrated solution for AMI) enabled meters
in Mumbai for evaluation by the power company. The installation
will demonstrate CyLec and is expected to remain in place for three
to six months. The company will use its own Meter Data Management
System to manage and present the data collected from the
meters.
The private company is India's largest integrated power company
with over 1,000,000 household, 150,000 corporate customers and a
significant international presence.
Update on TNEB Tender
Cyan also updates shareholders that the Tamil Nadu Electricity
Board (TNEB) tender process continues and that the field pilots in
Trichy (Tiruchchirappalli) have been further extended. On site
meter readings in Trichy have already been taken with Cyan's
technology performing reliably and an interoperable solution has
been demonstrated to TNEB. Cyan reminds shareholders that this is
the first phase of an overall project to replace 18 million meters
in Tamil Nadu and therefore it is a critical decision for the TNEB.
Cyan's competitive position on this tender remains very strong and
as the timeline is entirely driven by TNEB, Cyan needs to remain
patient whilst TNEB complete the pilot evaluation and tender
attribution process according to the Indian public utility tender
regulations.
Update on substantial metering order in India
In May 2012, Cyan announced an order from a major metering
customer in India. Due to delays in the TNEB tender process the
fulfilment of this order will be in 2013.
John Cronin, Executive Chairman of Cyan, commented: "We are
delighted that one of our key strategic partners is implementing
the first of one of our AMI pilots planned in India with the power
company. This further demonstrates that the Indian market is
gearing up for large scale deployment of AMI as well as Cyan's
leadership position in the AMI space in India.
"In addition, we are highly encouraged by the successful
demonstration of Cyan's interoperable solution in the Trichy
pilots. We believe our solution is very well placed to result in
orders for our meter manufacturer partners and will provide a
further update as soon as publicly disclosable information is
available."
Enquiries:
Cyan Holdings plc Tel: +44 (0) 1954 234 400
John Cronin, Executive 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
Walbrook PR Tel: +44 (0)20 7933 8780
Bob Huxford bob.huxford@walbrookpr.com
Paul Cornelius paul.cornelius@walbrookir.com
About Cyan
Cyan is an integrated system design company delivering mesh
based flexible wireless solutions for utility metering, lighting
control & industrial telemetry. For more information, please
visit www.cyantechnology.com.
About CyLec
CyLec is a complete control and communication network for
electricity metering. CyLec uses wireless technology to enable the
collection and delivery of data from and to a meter, such as energy
profiles, instant readings and the sending of tariff updates.
Priority data can also be sent back to the utilities such as
information regarding tampering enabling the utility to take action
immediately.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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