Cyan Holdings Plc Update on Metering Partnership in Brazil (7508J)
June 17 2014 - 2:05AM
UK Regulatory
TIDMCYAN
RNS Number : 7508J
Cyan Holdings Plc
17 June 2014
Cyan Holdings plc
("Cyan" or the "Company")
Update on Metering Partnership 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, provides an update on
the partnership with Nobre de la Torre ("Nobre") to distribute Cyan
smart metering solutions in Brazil.
On 5 March 2014, Cyan notified shareholders that a CyLec(R)
smart metering pilot had been deployed by our metering partner in
Brazil (Nobre). The pilot was based on the Cyan retrofit solution
which is specifically designed to provide smart metering
functionality to existing static electricity meters in Brazil. The
retrofit module is a small, self-contained unit 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 'smart' using Cyan's
CyLec Advanced Metering Infrastructure ("AMI") communication
platform. The retrofit device deployed in the pilot supports Brazil
meters with the PIMA protocol, which is a communication protocol
supported by several different meter manufacturer brands operating
in the Brazil market such as Itron, Electra, Nansen, Landis &
Gyr, Elster and ELO.
The first pilot has been successful and Nobre have been able to
confirm that Cyan technology can be successful in Brazil under
local telecommunication law restrictions. A second pilot using the
retrofit unit has been requested to demonstrate that the consumer's
power supply can be remotely connected and disconnected without
having to send utility staff on site, in the event of non-payment
and to also prevent fraud. The current cost of sending staff for
manual disconnect/reconnect duties is a significant cost burden for
utilities in Brazil.
Nobre has also informed Cyan that they have contracted with a
Brazilian Contract Equipment Manufacturer ("CEM"), who will build
volume orders of the new retrofit product on Nobre's behalf. Nobre
have reported that they expect first orders in the fourth quarter
of 2014 and anticipate volume shipments in 2015. The CEM has been
selected to meet this expected demand.
Based on a Brazilian utility request and market opportunity, an
additional retrofit solution is also under development that will
allow connection to several meters through a single radio module.
Many meters in Brazil are locked inside multi-meter secure cabinets
and this additional solution will establish Cyan and Nobre ahead of
Brazilian competitors in terms of both cost and functionality.
A further pilot with a second Tier 1 Brazilian utility is
currently planned and an update will be provided when this has been
deployed by Nobre.
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.
* "Smart Grid Market in North and South America - Key Issues,
Regulations, Current Market Outlook and Key Equipment Market Size
to 2020" GlobalData, January 2014.
John Cronin, Executive Chairman, Cyan Technology commented:
"Nobre are doing a great job of developing the smart metering
market for Cyan in Brazil. They have made strong progress in a
short period of time and are confident that they will secure orders
before the end of 2014. From the information that Nobre have
gathered, we understand that the retrofit solution is going to be
very competitive in Brazil, where consumer smart metering
deployments have not gone ahead due to the high cost and complexity
of US developed smart metering solutions. We continue to support
Nobre on a day to day basis and are confident that they will
achieve the performance criteria related to sales in our agreement
in order that their exclusivity continues."
João Nelson C de la Torre, Executive Director, Nobre, commented:
"There is significant demand for cost effective smart metering
solutions in Brazil. We are pleased with the results of the Cyan
technology in the first pilot. With the retrofit solution, we are
able to offer a different approach to other smart metering
technologies available in South America and we remain confident
that we can offer a compelling proposition that will allow us to be
one of the largest AMI providers in Brazil."
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
------------------------------------------- -------------------------
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 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 Advanced Metering 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
MSCDMGMVVVFGDZM
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Jul 2023 to Jul 2024