Cyan Holdings Plc Retrofit Pilot in Brazil (5284B)
March 05 2014 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 5284B
Cyan Holdings Plc
05 March 2014
Cyan Holdings plc ("Cyan" or the "Company")
First CyLec(R)Retrofit Pilot Deployment in Brazil
Cyan Holdings (AIM:CYAN.L), the integrated system and software
design company delivering mesh based flexible wireless solutions
for utility metering and lighting control, announces its first
pilot deployment in Brazil for its smart metering solution
CyLec(R).
In December 2013, Cyan launched the CyLec retrofit module, which
is specifically designed to provide smart metering functionality to
static electricity meters in Brazil. The module is a small
self-contained box that connects to an installed meter via an
existing communications interface on the meter. Cyan's product
provides a cost effective solution to enable utilities to upgrade
from 'dumb' meters to Cyan's CyLec communication platform. With the
addition of data concentrator units, the CyLec product can be
migrated from a 'walk-by automated meter reading' solution to full
advanced metering infrastructure ("AMI").
Following final certification from ANATEL (Agência Nacional de
Telecomunicações) for CyLec products in Brazil, Cyan's partner has
deployed a full AMI solution on a pilot basis using the CyLec
retrofit module. The partner in Brazil has initially installed a
small number of retrofit units to existing meters for an unnamed
utility, with further pilot units anticipated to be installed
later. This utility will evaluate the technology's various
advantages, including functions such as remote disconnect and
tamper alerts, in addition to allowing the utility to remotely
monitor usage over the next several months.
According to GlobalData's latest report*, smart meter market
revenues in Brazil will increase tenfold, from $36m in 2013 to
$432m by 2020. The main market drivers for this projected growth
are the need to upgrade grid reliability and power outages, and to
improve the integration of renewable energy generation into the
system, reducing per-capita power consumption. In addition, with
power theft as high as 20% in some Brazilian regions, local
authorities are currently pursuing investments in smart meters, as
the technology provides a simpler way for companies to track such
activity.
John Cronin, Executive Chairman, Cyan Technology commented: "We
are very pleased to have the first deployment for our retrofit
solution installed in the field. With a metering partner in place
in Brazil as well as the certification from ANATEL, Cyan's
technology is ready and able to help address the local authorities'
requirement to reduce power theft across this considerable
market."
* "Smart Grid Market in North and South America - Key Issues,
Regulations, Current Market Outlook and Key Equipment Market Size
to 2020" GlobalData, January 2014
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Chairman Tel: +44 (0) 1954 234
400
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Allenby Capital Ltd - Nominated Adviser Tel: +44 (0) 20 3328
and Joint Broker 5656
Jeremy Porter / Mark Connelly
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Hume Capital Securities plc - Joint Broker Tel: +44 (0) 20 7101
Jon Belliss 7070
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Walbrook PR - Financial PR Tel: +44(0) 20 7933 8780
Paul Cornelius
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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 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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