Cyan Holdings Plc Smart metering industry forecasts
January 15 2013 - 2:00AM
RNS Non-Regulatory
TIDMCYAN
Cyan Holdings Plc
15 January 2013
Cyan Holdings plc
("Cyan" or the "Company")
Report forecasts half of all global meter market revenues
to come from smart utility meters by 2016
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, welcomes a
recent forecast that smart utility meters will account for half of
all global meter market revenues by 2016.
Cyan's smart metering solution for utilities, CyLec(R), provides
an integrated platform that enables utilities to transform existing
power grid infrastructure into the smart grid. CyLec(R) has been
deployed with multiple utilities which leaves Cyan well placed to
take advantage of the forecast increase in smart meter usage.
The forecast by IMS Research predicts that smart utility meters
will account for half of all global meter market revenues by 2016.
According to the study, Asian markets are also moving towards
communicating utility meters, a trend that is expected to continue
in the coming years.
This prediction for the Asian market is of particular interest
to Cyan, which has its smart metering solution for utilities
(CyLec(R)) deployed in multiple projects throughout India.
The Company is involved in the Tamil Nadu Electricity Board
(TNEB) Automatic Meter Reading (AMR) pilot project in
Tiruchchirappalli, (Trichy) in the state of Tamil Nadu, India.
Cyan is also participating in a high profile smart grid project
in Puducherry, India, through one of its partners. The project is
being led by the Power Grid Corporation of India Limited (PGCIL), a
government of India enterprise. It involves installing an Advanced
Metering Infrastructure (AMI) solution in houses throughout
Puducherry to support the electricity department's objective to
save power. Cyan's metering partner has deployed CyLec(R) enabled
meters in Puducherry for evaluation by PGCIL.
Cyan is also involved in an Advanced Metering Infrastructure
pilot project for a leading integrated power company in Mumbai
through one of its strategic partners.
John Cronin, Executive Chairman of Cyan, commented: "In recent
months we have seen how the Indian market is gearing up for large
scale deployment of AMI. Our involvement in a number of pilot
projects in India demonstrates the capabilities of our CyLec
solution. We are confident that Cyan is well positioned to meet the
growing demand for smart metering solutions in India and
worldwide."
IMS Research's smart meter forecast is from their latest study,
entitled: 'The Utility Meter Yearbook - 2013'. More information on
the study can be found on the following website:
http://www.electronics-eetimes.com/en/smart-utility-meters-will-account-for-half-of-all-global-meter-market-reve
nues-by-2016.html?cmp_id=7&news_id=222915082
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Executive Chairman Tel: +44 (0) 1954 234 400
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Cenkos Securities plc (NOMAD and Joint Tel: +44 (0)20 7397 8900
Broker)
Stephen Keys / Adrian Hargrave
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XCAP Securities plc (Joint Broker) Tel: +44 (0)20 7101 7070
Jon Belliss / Adrian Kirk
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Walbrook PR Ltd Tel: +44 (0)20 7933 8780
Bob Huxford bob.huxford@walbrookpr.com
Paul Cornelius paul.cornelius@walbrookir.com
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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(R)
CyLec(R) 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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