TIDMCYAN
Cyan Holdings Plc
07 August 2014
Cyan Holdings plc
("Cyan" or the "Company")
Cyan wins 2014 Frost & Sullivan Award for Technology
Innovation Leadership
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 won
the 2014 Europe Frost & Sullivan award for Technology
Innovation Leadership in developing a smart metering technology for
the power sector in emerging economies.
Each year, Frost & Sullivan presents this award to the
company that has demonstrated uniqueness in developing and
leveraging new technologies, which significantly impacts both the
functionality and the customer value of the new products and
applications. The award lauds the high R&D spend toward
innovation, its relevance to the industry and the positive impact
on brand perception.
Frost & Sullivan Best Practices awards recognise companies
in a variety of regional and global markets for demonstrating
outstanding achievement and superior performance in areas such as
leadership, technological innovation, customer service and
strategic product development. Industry analysts compare market
participants and measure performance through in-depth interviews,
analysis and extensive secondary research to identify best
practices in the industry.
John Cronin, Executive Chairman commented: "Cyan's strategy of
partnering with local smart metering vendors was independently
recognised by Frost & Sullivan as a highly effective method of
commercialising its technology in emerging markets. Our recent
experience has proven this, with the announcements of commercial
deployments for Tata Power and Essel Utilities, through consortia,
for Cyan's CyLec(R) smart metering solutions in India. We are
committed in our focus on emerging regions and appreciate Frost
& Sullivan's recognition of our innovative technology in this
arena."
"CyLec has already demonstrated its practicality in India and
Brazil, and has proven to be compatible with the existing static
meters in these countries," said Frost & Sullivan Senior
Research Analyst Avimanyu Basu. "The retrofitting is achieved with
the help of a compact retrofit module that connects with the
existing communications interface on the meter."
Cyan's smart metering technology is available as both an
integrated and retrofit solution. It supports interoperability by
enabling disparate meter communication protocols from various
manufacturers to be integrated into an 'open system'. This is
particularly important in emerging regions that are experiencing
fast growth, as it ensures utilities have a reliable supply chain
and are able to negotiate competitive pricing. The Open Meter
Protocol can be customised to the requirements of the local
utilities and support real-time monitoring through wireless mesh
networks.
"The company has directed its efforts toward providing solutions
in the most cost-effective way, with the help of effectual demand
forecasting, demand-side management and accurate billing," noted
Basu. "Cyan's efforts will go a long way in helping end users
accrue cost savings through its meter retrofit solution, and
utilities reduce AT&C losses."
In countries such as India, 27%* of the generated power is lost
during transmission, distribution and commercial issues including
tamper and theft, so optimising the system by reducing losses can
provide a significant boost to the economy. It will also allow
utility companies to invest in the improvement of infrastructure,
which will bring the outlying areas that are without service into
the grid network. Cyan envisions that in the next five years, smart
grid technology will help to address aggregate technical and
commercial (AT&C) losses and completely eliminate load
shedding.
* source
http://www.cea.nic.in/reports/monthly/executive_rep/feb14.pdf
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 Frost & Sullivan
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www.awards.frost.com
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
END
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