Cyan Holdings Plc Brazil smart metering order (1455A)

TIDMCYAN

RNS Number : 1455A

Cyan Holdings Plc

18 December 2014

Cyan Holdings plc

("Cyan" or the "Company")

Brazil smart metering order

Cyan Holdings (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 received a purchase order from the local contract equipment manufacturer selected by its strategic partner in Brazil, Nobre de la Torre ("Nobre").

This order is for 1,000 CyLec retrofit modules, 25 CyLec Data Concentrator Units and other smart meter components to fulfil Nobre's commitment to manufacture and stock enough bespoke retrofit units for its planned pilots with Tier 1 Brazil utilities, as well as enable them to fulfil smaller orders on short notice across the country.

In March 2014, Nobre deployed its first smart electricity meter pilot project for a Tier 1 utility in Brazil, which has over two million consumers. In August 2014, Nobre announced that a second pilot with another Tier 1 utility, with six million consumers, had also been successfully deployed in three different locations selected by the utility.

According to GlobalData's latest report(1) , smart meter market revenues in Brazil will increase tenfold, from $36m in 2013 to $432m by 2020. The main market drivers for this projected growth are the need to upgrade grid reliability and power outages, and to improve the integration of renewable energy generation into the system, reducing per-capita power consumption. In addition, with power theft as high as 20% in some Brazilian regions, local authorities are currently pursuing investments in smart meters, as the technology provides a simpler way for companies to track and prevent such activity.

John Cronin, Executive Chairman, Cyan Technology commented: "I am pleased to announce an order from Cyan's metering partner in Brazil. Like many other emerging economies, Brazil has a high rate of non-technical distribution losses. To address these losses and to enable the utilities to manage the rapidly growing economy, the Brazilian government has set a target of replacing all 63 million(2) existing meters with smart meters. This represents a substantial market opportunity for Cyan and an initial order underpins anticipated growth during 2015, led by our new Vice President, Mark Coyle."

João Nelson de la Torre, Executive Director, Nobre, commented: "Following the development and successful pilot evaluation of our retrofit smart metering solution by customers, a number of meter manufacturers have requested that we integrate CyLec technology with their products. We are now ready to commence with an initial build of Nobre and CyLec retrofit solutions at our third party contract manufacturer."

(1) "Smart Grid Market in North and South America - Key Issues, Regulations, Current Market Outlook and Key Equipment Market Size to 2020" GlobalData, January 2014

(2) Northeast Group, llc Brazil Smart Grid: Market Forecast (2012-2022)

Enquiries:

 
 Cyan Holdings plc                  www.cyantechnology.com 
  John Cronin, Executive Chairman    Tel: +44 (0) 1954 
                                     234 400 
---------------------------------  ----------------------- 
 Allenby Capital Ltd - Nominated    Tel: +44 (0) 20 
  Adviser and Joint Broker           3228 5656 
  Jeremy Porter/Chris Crawford 
---------------------------------  ----------------------- 
 Hume Capital Securities plc        Tel: +44 (0) 20 
  - Joint Broker                     7101 7070 
  Jon Belliss 
---------------------------------  ----------------------- 
 Walbrook PR - Financial PR         Tel: +44(0) 20 7933 
  Paul Cornelius/Nick Rome           8780 
                                     cyan@walbrookpr.com 
---------------------------------  -----------------------

About Cyan

Cyan is an integrated system design company based in Cambridge, UK. We provide a communication platform that enables the measurement and control of energy consumption for the metering and lighting markets, helping to reduce energy losses. Our 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(R) is a complete control and communication network for electricity metering. CyLec(R) 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 Nobre de la Torre

Founded in 2007, Nobre has developed deep domain knowledge in the field of smart metering. The length of expertise within the smart metering industry is significant and several Nobre employees have been part of Automated Meter Reading ("AMR"), Telecommunications and systems management and support industry since its first steps in Latin America. Operating as a trusted system integrator, the Company's focus on research and development has delivered high-levels of innovation for smart meter vendors, utilities and mobile device manufacturers alike.

Since 2010, Nobre has engaged with several utilities within Brazil to help develop the information technology required to support Advanced Metering Infrastructure ("AMI") across the region. For more information, please visit www.nobredelatorre.com.br

This information is provided by RNS

The company news service from the London Stock Exchange

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