Cyan Holdings Plc Strategic Partnership and Initial Order (0966K)
July 25 2013 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 0966K
Cyan Holdings Plc
25 July 2013
25 July 2013
Cyan Holdings plc
("Cyan" or the "Company")
Strategic Partnership Agreement with Ilumatic S/A Brazil
Initial order from Ilumatic for $135,000
Cyan Holdings plc (AIM: CYAN.L), the integrated system design
company delivering wireless solutions for lighting control and
utility metering announces that it has formed a strategic
partnership with Ilumatic to collaborate in the development, supply
and delivery of CyLux(R), Cyan's energy efficient smart lighting
solution, within Brazil. The agreement also includes an order for
$135,000.
Cyan and Ilumatic S/A have entered into a Strategic Partnership
Agreement to provide Brazil's municipalities with CyLux(R). This
includes a $135,000 order from Ilumatic comprising of a significant
initial upfront payment as well as complete funding to adapt,
qualify and certify Cyan's CyLux(R) products to meet the RF
spectrum standards in Brazil. This funding will rapidly accelerate
Cyan's strategic entry into this significant market while being
cost neutral and resource light for Cyan.
Ilumatic is focused on the development and manufacture of energy
efficient street lighting products and is a well-established name
within the fast-growing Brazilian market as one of the three
leading lighting manufacturers. The lighting market across Latin
America is estimated to reach in the region of $8bn by 2020, of
which lighting control systems will account for approximately
$153m*.
Nelson d'Arrigo, General Manager, Ilumatic, commented: "In
Brazil demand is growing for automated, energy saving lighting
control systems. We conducted a thorough review of the lighting
control market and were delighted with Cyan's solutions. Cyan's
CyLux(R) technology is ideal in that it is optimised for emerging
markets, has low power consumption and is compatible with all
lighting technologies."
John Cronin, Executive Chairman, Cyan Technology commented: "We
are very pleased to be partnering with Ilumatic which is a
well-respected name in Brazil across sectors including government,
energy utilities, construction and engineering. The lighting market
across Latin America is growing at a rapid rate and this agreement,
in line with the Company's strategy of building key partnerships in
our target markets, offers a significant opportunity for Cyan's
lighting products to complement our current smart-metering
opportunities in India."
*McKinsey & Company, Lighting the way: Perspective on the
global lighting market (http://www.mckinsey.com/)
Enquiries:
Cyan Holdings plc Tel: +44 (0) 1954
John Cronin, Executive Chairman 234 400
www.cyantechnology.com
Cenkos Securities plc Tel: +44 (0)20 7397
NOMAD and Joint Broker 8900
Stephen Keys / Adrian Hargrave
XCAP Securities plc Tel: +44 (0)20 7101
Joint Broker 7070
Jon Belliss / Adrian Kirk
Walbrook PR Tel: +44 (0)20 7933
Bob Huxford 8780
Paul Cornelius bob.huxford@walbrookpr.com
paul.cornelius@walbrookir.com
About Ilumatic
Formed in 1962 and acquired by the Intral(R) Group in 2008,
Ilumatic is focused on the development and manufacture of
sustainable, energy efficient street lighting products.
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 CyLux(R)
CyLux(R) is Cyan's energy efficient smart lighting solution. It
enables significant savings by optimising the way in which public
lighting is managed. CyLux is compatible with all the latest
lighting technologies including HPS, HID and LED. The CyLux web
portal provides a central monitoring and control interface that
scales to city and state wide deployments.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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