TIDMCYAN
RNS Number : 7504J
Cyan Holdings Plc
17 June 2014
Cyan Holdings plc
("Cyan" or the "Company")
First Cyan order for retrofit commercial deployment in India
Consortium led by Aquameas has been selected by Essel
Utilities
Cyan (AIM:CYAN.L), the integrated system and software design
company delivering mesh based flexible wireless solutions for
utility metering and lighting control, announces that a consortium
led by Aquameas Instrument Pvt. Ltd ("Aquameas") has been selected
by Essel Utilities ("Essel") for the first deployment of Cyan's
retrofit CyLec Advanced Metering Infrastructure ("AMI") solution in
India.
Essel Utilities are part of the US$2.5Bn revenue Essel Group and
operates multiple private utility franchises, serving 1 million
customers across India. Aquameas designs, manufactures and supplies
electricity meters as well as water meters and other metering
equipment.
After the first meeting between Essel, Aquameas and Cyan, in
February 2014, the project has moved quickly to a decision by Essel
to place an initial order for a 5,000 unit CyLec AMI retrofit
solution. As part of the contract, Aquameas will manufacture and
supply 5,000 retrofit modules, each containing Cyan's CyLec 865MHz
RF device. The corresponding Cyan order from Aquameas also includes
the additional hardware and software required for a full AMI
deployment at Essel: Cyan Data Concentrator Units, custom antennas,
Head End Server software licenses and onsite software
implementation services. The 5,000 retrofit modules are expected to
be fitted to Genus, Landis & Gyr, HPL and Larsen & Toubro
consumer meters in Muzaffarpur (Bihar) during Q4 2014/Q1 2015.
The Indian power sector is heavily focussed on reducing
transmission and distribution ("T&D") losses which will support
the distribution company's requirement to improve their financial
health. Smart grid technologies have been identified as a solution
that could address these losses effectively. By implementing a
smart metering solution, it allows the utility to collect and
analyse data from every meter ensuring accurate billing and
collection for every customer. As revenues increase, and T&D
losses decrease, monies can be reinvested into further smart grid
roll outs. With 200 million meters currently, it is estimated that
India will install 130 million smart meters by 2021.
Country/Continent Total number of Number of smart Smart meters as
meters currently meters already share of total
deployed (in millions) deployed (in millions) deployment
------------------- ------------------------ ------------------------ ----------------
USA 150 46 30.7%
------------------- ------------------------ ------------------------ ----------------
Europe 281 61.2 22.0%
------------------- ------------------------ ------------------------ ----------------
Australia 9.5 3 31.6%
------------------- ------------------------ ------------------------ ----------------
Canada 15 7.3 49%
------------------- ------------------------ ------------------------ ----------------
India 200 - <<1%
------------------- ------------------------ ------------------------ ----------------
Source:
http://indiasmartgrid.org/en/resource-center/Reports/ISGF_Report%20on%20Smart%20Metering%20Scenario%20in%20India.pdf#search=smart%20metering%20scenario%20in%20India
Mr. Avinash Jape , Chief Executive Officer of Aquameas
Instrument Pvt. Ltd, commented, "We would like to thank both Essel
and Cyan for the confidence they have placed in us to manufacture
the retrofit modules for this project. We view Cyan's solution as
an excellent opportunity to accelerate the pace of smart metering
deployment in India and look forward to partnering with Cyan on
other similar opportunities in the second half of 2014."
John Cronin, Executive Chairman of Cyan, commented, "We are
delighted to have our first order for the commercial deployment of
Cyan's technology in India. The retrofit solution was launched only
six months ago and Essel immediately recognised that they could
quickly and cost effectively upgrade their existing static meters
to full AMI, providing the ability to remotely read meters and
eliminate power theft, through remote disconnect. Essel are one of
the leading private utility franchises in India and this selection
demonstrates the strength and credibility of the retrofit
offering."
In December 2013, Cyan launched the CyLec retrofit module, which
is specifically designed to provide smart metering functionality to
static electricity meters. 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. The CyLec retrofit module is
designed to support utilities that want to roll-out a smart
metering programme into its installed base quickly and cost
effectively.
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Chairman Tel: +44 (0) 1954 234
400
------------------------------------------- -------------------------
Allenby Capital Ltd - Nominated Adviser Tel: +44 (0) 20 3328
and Joint Broker 5656
Jeremy Porter / Michael McNeilly
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Hume Capital Securities plc - Joint Broker Tel: +44 (0) 20 7101
Jon Belliss 7070
------------------------------------------- -------------------------
Walbrook PR - Financial PR Tel: +44(0) 20 7933 8780
Paul Cornelius
------------------------------------------- -------------------------
About Cyan
Cyan is an integrated system design company based in Cambridge,
UK. It provides a communication platform that enables the
measurement and control of energy consumption for the metering and
lighting markets, helping to reduce energy losses. Cyan's wireless
mesh networking platform offers 'last mile' connectivity between
millions of devices and enterprise software, supporting bilateral
communications with the end customer.
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.
About Essel Utilities
Essel Utilities is the first integrated utility company in India
that has recently acquired power and water distribution projects
for major cities in the states of Madhya Pradesh, Bihar,
Chhattisgarh and Maharashtra. Essel Utilities is an enterprise of
the Essel Group, India's leading media and entertainment
conglomerate with a group turnover of USD 2.5 billion (FY
2011).
Essel Utilities is committed to participate in public-private
partnership (PPP) projects across India of transforming the ageing
public utility infrastructure into modern state-of-the-art utility
realm. The company's vision is to provide world-class integrated
utility services with the best quality practices in reliability,
safety and customer care.
Essel Utilities will manage power distribution franchise
services in Gwalior, Sagar, Ujjain in Madhya Pradesh, Muzaffarpur
in Bihar and Nagpur in Maharashtra. Shortly, the company intends to
foray in water distribution projects for major cities of India.
The company envisages creating value for its stakeholder with
top line revenues of 1500 crores Rupees and over one million
consumer base by FY 2013-14. Essel Utilities have aggressive plans
to expand its top line revenues and consumer base in the field of
power & water distribution services.
About Aquameas
Established in the year 2001, Aquameas Instrument Pvt. Ltd. is a
private limited company engaged in supplying and trading equipment
such as flow meters, level transmitters, pressure transmitters
various types of switches, pressure gauges, portable meters, water
meter and energy meters. These products are acknowledged for their
efficiency and durable service life.
In order to offer a world-class product range to its clients,
Aquameas has recruited a team of dedicated and sincere
professionals. The procuring agents assist in choosing the
appropriate vendors to set up business tie ups with them. Aquameas'
quality controllers make sure that the products are thoroughly
tested on various attributes before these get delivered to the
clients. Additionally, their technicians help in rendering
technical services related to its product range to the clients. The
relentless and coordinated efforts of these experts have helped in
acquiring a rich client base across India. Some of Aquameas'
esteemed clients are BMC, PMC, HWWSB, L&T and MCGM.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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