Cyan Holdings Plc MOU with Global Meter Vendor (0473N)

TIDMCYAN

RNS Number : 0473N

Cyan Holdings Plc

23 July 2014

Cyan Holdings plc

("Cyan" or the "Company")

Cyan signs MOU with Global Meter Vendor El Sewedy

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 it has signed a Memorandum of Understanding ("MOU") with El Sewedy Electrometer India Pvt Ltd ("El Sewedy") to develop, market and deploy integrated smart metering solutions in India and across the globe.

Under the MOU, El Sewedy and Cyan will tender as part of a consortium for a number of smart metering projects in India and other target markets. Cyan's smart metering solution, CyLec, will be integrated with El Sewedy's single-phase smart meters and will support the Open Meter Protocol ("OMP"), which provides an open standard protocol optimised for real-time monitoring and control over wireless mesh networks.

According to El-Sewedy*, the ABS Research-UK Report of 2009 ranked El Sewedy number five in the worldwide metering market, with more than 10 million meters and metering solutions running in more than 20 countries around the world. With group revenues in 2013 of EGP15 billion, El Sewedy employs 2,000 people in seven factories across Egypt, Ghana, Zambia, Ethiopia, Mexico, Brazil and India. El Sewedy is a member of Zaki EL Sewedy Group, which was founded 70 years ago with the aim of upgrading the global energy distribution sector through deploying the latest technologies. El Sewedy primarily sell metering solutions in Europe under the Iskraemeco brand.

John Cronin, Executive Chairman at Cyan, commented: "We are very pleased to be partnering with El Sewedy to provide smart metering technology to their customers in India and other markets. This partnership will also increase the number of qualified meter manufacturers in India using OMP as standard.

"As the Indian market moves to commercial deployments, Cyan is well positioned to support open standards for meter and communication protocols, which is imperative to ensure customers can achieve cost efficiencies and benefit from technological advances."

* http://www.sewedy.in/CompanyProfile.html

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 3228 
 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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