Cyan Holdings Plc New Pilot with Indian State-Owned Utility (8545R)
September 17 2014 - 2:01AM
UK Regulatory
TIDMCYAN
RNS Number : 8545R
Cyan Holdings Plc
17 September 2014
Cyan Holdings plc
("Cyan" or the "Company")
New Pilot with Indian State-Owned Utility
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 a bidding
consortium of 5 companies including Cyan, has deployed a proof of
concept pilot of 60 meters to demonstrate Cyan's CyLec Advanced
Metering Infrastructure ("AMI") technology with the Indian
state-owned utility, Uttar Gujarat Vij Company Ltd ("UGVCL").
The pilot, in Naroda and Deesa, is part of a competitive tender
process that began in late 2013 with four other bidding consortia,
consisting of technology providers, system integrators and meter
manufacturers supplying their AMI solutions for evaluation by the
utility. The consortium which includes Cyan technology is believed
to be the only one to have demonstrated an interoperable, sub-GHz
smart metering solution. If Cyan's consortium is successful, it
would represent a major endorsement of the Company's hardware and
software and is expected to clearly illustrate the CyLec compelling
value proposition for other electricity utilities across the
region.
The UGVCL pilot is one of 14 smart grid pilots under the Smart
Grid Task Force ("SGTF") in India being run by the Ministry of
Power. Whilst no guarantee can be given at this time that the
consortium will be successful in converting this pilot into a
commercial order, or that UGVCL will roll out AMI on completing its
evaluations of the various solutions currently in pilot phase, Cyan
is pleased that its technology has already proven its
interoperability across two meters supplied by different
manufacturers.
In a separate smart metering initiative at the same utility,
Cyan was formally invited by UGVCL in April 2014 to install a
further 100 meter 865MHz smart metering proof of concept. The pilot
letter specification required that the meters be capable of self
forming/self healing mesh networking and be capable of being read
at a range of at least 100 meters. This pilot has also now been
deployed by Cyan, with UGVCL expected to evaluate the results over
the next few months.
John Cronin, Executive Chairman at Cyan, commented: "We are
pleased that this consortium was selected to participate in one of
the 14 pilots under the Ministry of Energy smart grid initiative.
Whilst UGVCL has not yet committed to rolling out its smart grid
pilot projects, Cyan's technology has already proved its
interoperability between two meter manufacturers, which was a key
criteria of the tender.
"We are therefore delighted to be participating in these two
pilots and working directly with one of India's state utilities.
Furthermore, we believe these pilots have a better probability of
progressing to commercial orders than other Indian state owned
utilities we have worked with in the past, should our AMI solution
beat the competition under evaluation by this utility. We therefore
look forward to building on this relationship.
"The State of Gujarat is viewed as being progressive in terms of
adoption of new technology to meet the needs of its population.
With 200 million legacy meters currently deployed, it is estimated
that India will install 130 million smart meters by 2021 and we
look forward to taking a significant role in this technological
evolution."
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Executive Chairman Tel: +44 (0) 1954 234
400
Allenby Capital Ltd - Nominated Adviser Tel: +44 (0) 20 3228
and Joint Broker 5656
Jeremy Porter / Chris Crawford
-------------------------
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 / Nick Rome cyan@walbrookpr.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. Cyan's wireless mesh networking platform uses
sub-GHz open standards-based technology that offers 'last mile'
connectivity between millions of devices and enterprise software,
supporting bilateral communications with the end user. For more
information, please visit www.cyantechnology.com.
About CyLec(R)
CyLec is a complete control and communication hardware and
software solution for smart electricity metering. CyLec enables the
communication of data from an enabled meter to the electricity
utility via Advanced Meter Reading ("AMR") devices, where the
utility typically uses handheld devices to read the meter remotely,
or through a complete Advanced Metering Infrastructure ("AMI")
solution, where the data is transmitted through the
telecommunication network to the utility.
The CyLec solution provides the electricity utility with
significant revenue assurance through the ability to physically
track their meters and monitor and tampering. In addition, the
CyLec AMI offers an effective means of curtailing revenue leakage
by monitoring energy usage and facilitating fraud detection.
Furthermore, the CyLec AMI can also support demand side management
programs, which assist in the reduction of brown-outs, increase
system reliability and facilitate the creation of peak and off-peak
energy tariffs for consumers.
About Uttar Gujarat Vij Company Ltd ("UGVCL")
UGVCL is a wholly-owned subsidiary of Gujarat Urja Vikas Nigam
Limited, a government of Gujarat undertaking, and serves more than
2.8 million consumers across six districts in India.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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