Cyan Holdings Plc MOU with Ecolibrium Energy
July 29 2014 - 2:02AM
RNS Non-Regulatory
TIDMCYAN
Cyan Holdings Plc
29 July 2014
Cyan Holdings plc
("Cyan" or the "Company")
Cyan signs MOU with Ecolibrium Energy
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 with Ecolibrium Energy Private
Limited ("Ecolibrium") to enter into a partnership to develop,
market and deploy integrated smart metering solutions in India.
Ecolibrium and Cyan, as a consortium, will tender for a number
of smart metering projects in India. The consortium's solution will
provide seamless integration between Cyan's sub GHz wireless
communication platform, delivering last mile connectivity, and
Ecolibrium's smart grid platform, GridSense. This will enable
utilities to track all existing meters in the network and monitor
their usage, allowing timely and accurate billing for customers and
leading to improved revenue assurance for electricity
distributors.
Ecolibrium's GridSense offers a broad range of services
including energy management solutions and demand response programs
for distribution companies. Its technology-enabled solutions help
meet the needs of utilities responsible for maintaining the
real-time balance between electricity supply and demand. Ecolibrium
has more than 400 customers across the country, managing more than
1500 MW of power through its demand side management programs and
saving between 5%-25% of the energy costs of its customers.
John Cronin, Executive Chairman at Cyan, commented, "We are very
pleased to be partnering with Ecolibrium to provide integrated
solutions for smart metering opportunities across India.
Ecolibrium's solutions enable utilities to manage the vast amounts
of data generated by smart metering; optimising the use of energy
and making the grid more efficient. This partnership will further
extend Cyan's eco-system partners to allow Cyan to deliver
measurable value to its customers."
Chintan Soni, Managing Director/CEO at Ecolibrium Energy,
commented, "Cyan is well-established in the Indian market and its
communication platform will enable the measurement and control of
energy consumption. With demand for electricity growing at an
average annual rate of 6%* and utilities needing to reduce
transmission and distribution losses, an integrated system approach
is fundamental. Together with Cyan, we will be able to provide an
end to end solution to the distribution companies, starting from
metering to consumer portal and analytics."
*http://www.ecolibriumenergy.com/?page_id=984
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Chairman Tel: +44 (0) 1954
234 400
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Allenby Capital Ltd - Nominated Tel: +44 (0) 20
Adviser and Joint Broker 3228 5656
Jeremy Porter / Michael McNeilly
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Hume Capital Securities plc Tel: +44 (0) 20
- Joint Broker 7101 7070
Jon Belliss
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Walbrook PR - Financial PR Tel: +44(0) 20 7933
Paul Cornelius 8780
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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 Ecolibrium
With its headquarters in India, where majority of the power
utility companies are struggling to become profitable, Ecolibrium
Energy provide technology and services to power utilities and its
consumers, which make not only economic, but also ecological
prudence.
Ecolibrium Energy is committed to innovate in the energy
management and demand response space. Its products provide cutting
edge technology specific to Indian conditions to optimize the use
of energy and make the grid more efficient. Armed with technology
and solutions to address most of India's energy challenges,
Ecolibrium Energy is a pioneer in the domestic smart grid sector.
With experience of implementing some of the first demonstration
projects in the country, the firm is at the forefront of the
domestic smart grid revolution. The company is incubated at CIIE
(Centre for Incubation Innovation and Entrepreneurship) under the
Renewable Energy Search Program in partnership with the MNRE
(Ministry of New and Renewable Energy). INFUSE capital and IFC (a
world back group) are investors in Ecolibrium Energy. Ecolibrium is
also a member of the India Smart Grid Forum, an initiative of the
Ministry of Power.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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