Cyan Holdings Plc Agreement with GridSense
August 12 2014 - 2:00AM
RNS Non-Regulatory
TIDMCYAN
Cyan Holdings Plc
12 August 2014
Cyan Holdings plc
("Cyan" or the "Company")
Cyan and GridSense(R) team up to provide end to end smart grid
solutions
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 teaming agreement with GridSense(R) Inc. ("GridSense"), to
jointly market smart grid solutions in India and other emerging
regions that will enable utilities to accurately monitor energy
distribution and consumption all the way from the distribution
transformer to the meter in the consumer's home, supporting the
reduction in power losses and increased revenues.
GridSense and Cyan will deliver smart grid solutions to support
the reduction of Aggregate Technical and Commercial ("AT&C")
losses in India and other emerging regions. AT&C losses include
technical losses in transmission and distribution as well as
commercial losses caused by low metering efficiency and theft.
Utilities in India have a pressing requirement to reduce these
losses and have recognised the benefits that smart grid technology
offers.
Cyan's smart metering platform, CyLec Advanced Metering
Infrastructure ("AMI"), provides bi-directional communication
between the customers' meter and the utility, enabling
functionality such as meter reading, fault detection and tamper
alerts. This enables a utility to accurately monitor the energy
consumption at the meter level and take action when an issue is
detected, for example disconnecting the supply until the issue has
been investigated and resolved.
GridSense has developed a transformer level system,
TransformerIQ(R) , that maximizes intelligence and minimizes costs
at the power distribution level. TransformerIQ enables energy
providers to monitor all potential distribution transformer failure
modes and detects early warning signs including asset deterioration
and illegal activity.
Using a combination of the Cyan and GridSense solutions, utility
customers will be able to accurately measure consumption at the
district transformer and compare this with that measured by the
combined AMI meters in the same area, to detect technical problems
as well as tampering and theft.
John Cronin, Executive Chairman at Cyan, commented, "We are
pleased to be partnering with GridSense to provide smart grid
solutions to improve revenue protection for utilities in India and
other emerging regions. Cyan's AMI solutions offer utilities
confidence, providing the ability to monitor and control customer's
energy consumption, ensuring accurate billing and revenue
collection. The partnership with GridSense will allow us to extend
this capability further into emerging markets, offering a complete
solution for revenue assurance from the distribution transformer
all the way down to the meter."
Brett Sargent, President & COO at GridSense, commented,
"GridSense has developed a range of offerings that address all the
critical points along the electricity delivery system, by
integrating advanced sensing and measurement capabilities with
remote communications and computing technologies. We are pleased to
team with Cyan, a company who shares our desire to provide
technology and services that help our customers address the
limitations of legacy infrastructure."
ENDS
For further information:
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.
About GridSense
GridSense is a smart grid technology company dedicated to
providing innovative, practical and cost effective monitoring
solutions to the electric power industry. Utilizing in-depth
industry knowledge and understanding of utility requirements, we
provide technology and services that help the industry address the
limitations of old and aging infrastructure. We apply experience
and technical know-how with new insight and ideas to create
intelligent, reliable and leading edge technologies that add value
to our customers and shape the future of the modern electrical
power system. For more information visit (www.gridsense.com).
Safe Harbor Statement
This press release includes forward-looking statements, which
are subject to risks and uncertainties. There is no assurance that
the named companies will continue to grow their respective
businesses, or that any of them will meet the expectations or
execute the initiatives described or referred to above. In the case
of GridSense, a complete discussion of the risks and uncertainties
which may affect its and its parent company's business generally is
included in "Risk Factors" in Acorn Energy, Inc.'s latest Form 10-K
filed with the Securities and Exchange Commission.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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