TIDMCYAN

RNS Number : 2541O

Cyan Holdings Plc

18 September 2013

Cyan Holdings plc

("Cyan" or the "Company")

Strategic Partnership Agreement with Nobre de la Torre, Brazil

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 an exclusive partnership, assuming certain performance targets are met, with Nobre de la Torre ("Nobre") to collaborate on the development, supply and system integration of CyLec(R), Cyan's smart metering solutions, within Brazil.

As part of this agreement, Nobre and Cyan will jointly develop hardware and software solutions for the power market within Brazil. Nobre will promote CyLec(R) under its Smart Metering Segment WorkForce programme and advise on the integration of Cyan Automatic Meter Reading ("AMR") and Advanced Meter Infrastructure ("AMI") technologies with Meter Data Management Systems ("MDMS"). Nobre will also arrange an initial two smart metering pilot studies to be carried out with Brazilian electricity distribution companies.

João Nelson C de la Torre, Executive Director, Nobre, commented: "Demand is rapidly growing for smart metering solutions in Brazil. We conducted a thorough review of the smart metering industry and were delighted with Cyan's technology. Cyan's CyLec(R) solution offers a different approach to other smart metering technologies in Brazil and we are confident that we can offer a compelling proposition that will allow us to be one of the largest AMR and AMI providers in Brazil."

John Cronin, Executive Chairman, Cyan Technology commented: "We are very pleased to be partnering with Nobre. The total smart grid market in South America is forecast to cumulatively reach nearly $50 billion by 2023(1) and this agreement, in line with the Company's strategy of building key partnerships in our target markets, offers a significant opportunity for Cyan. In some parts of Brazil as much as 20%(2) of electricity output is stolen leaving Brazil's electricity grid under supplied (non-technical losses). This is similar to the situation we have seen in India, where we have a number of pilot projects working in real environments.

(1) http://www.northeast-group.com/reports/Brochure-South_America_Smart_Grid_Market_Forecast_2013-2023_NortheastGroup.pdf

(2) http://www.bloomberg.com/news/2012-03-08/electricity-theft-driving-demand-for-smart-meters-at-brazilian-utilities.html

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 Nobre de la Torre

Founded in 2007, Nobre has developed deep domain knowledge in the field of smart metering. The length of expertise within the smart metering industry is significant and several Nobre employees have been part of Automated Meter Reading ("AMR"), Telecommunications and systems management and support industry since its first steps in Latin America. Operating as a trusted system integrator, the Company's focus on research and development has delivered high-levels of innovation for smart meter vendors, utilities and mobile device manufacturers alike.

Since 2010, Nobre has engaged with several utilities within Brazil to help develop the information technology required to support Automated Smart Meter Infrastructure ("AMI") across the region. For more information, please visit www.nobredelatorre.com.br

This information is provided by RNS

The company news service from the London Stock Exchange

END

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