Cyan Holdings Plc GBP1m Purchase Order (8158C)
January 22 2015 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 8158C
Cyan Holdings Plc
22 January 2015
Cyan Holdings plc
("Cyan" or the "Company")
GBP1M order for public utility smart metering project in
India
Cyan (AIM:CYAN.L), the integrated system and software design
company delivering mesh based flexible wireless solutions for
utility metering and lighting control, announces receipt of a
purchase order worth approximately GBP1 million from Enzen Global
Solutions Pvt Ltd ("Enzen") for a large pilot project being
implemented for Chamundeshwari Electricity Supply Corporation
Limited ("CESC"), Mysore, Karnataka in southwest India.
HIGHLIGHTS
-- Cyan will supply over 21,000 smart meters and associated hardware and software
-- Cyan will act as Enzen's end-to-end solution provider for smart metering
-- First meters expected to go live before the end of 2015 and
full rollout expected to complete in the first half of 2016
-- Cyan will manage the entire supply chain using local meter manufacturers
-- Cyan will provide facility management services for a period of 2 years post deployment
-- Cyan's management believes this is the first commercial implementation of Advanced Metering Infrastructure ("AMI") technology by a public utility for consumers in India
-- CESC distributes power to more than 1.5 million domestic customers in India
The purchase order from Enzen, worth INR 95 million
(approximately GBP1 million), is for a project to be implemented
for CESC. CESC is a public utility with responsibility for power
distribution to more than 1.5 million domestic customers across
five districts of Karnataka: Chamarajanagar, Mandya, Hassan, Kodagu
and Mysore. CESC is implementing an AMI solution designed to reduce
the cost of meter reading and aggregate technical and commercial
losses, as well as to improve peak load and power outage
management. Enzen is a global energy and environment company
providing high-end solutions to the energy and utilities
industries.
In April 2014, Enzen was awarded a contract to provide energy
infrastructure solutions to CESC and Cyan will act as Enzen's
end-to-end solution provider for the smart metering elements of the
contract. Cyan will supply its 865MHz RF mesh communication network
(including the modules, data concentrator units and head end
software), a Meter Data Acquisition System and 21,824 smart meters.
Cyan will manage the supply chain through local meter manufacturer
partners. In addition, Cyan will provide facility management
services to CESC in Mysore for a period of two years post
deployment, which is expected to represent around 10% of the order
value. The project is expected to go live in phases with the first
meters installed, commissioned and live before the end of 2015 and
the remainder live in the first half of 2016.
The project is the first of 14 smart grid pilots under the Smart
Grid Task Force in India being funded by India's Ministry of Power
to be rolled out. Cyan's management believes that this is the first
commercial implementation of AMI technology by a public utility for
consumers in India.
John Cronin, Executive Chairman, commented: "We are delighted to
have our first commercial order for a public utility in India,
following our two private utility project wins at Tata Power and
Essel Utilities last year. The order for the CESC project, one of
the 14 smart grid pilot projects in India, will provide substantial
credibility for Cyan's CyLec solution amongst government-owned
utilities as well as the wider energy distribution market.
Furthermore, it will act as an authoritative reference to
opportunities in India and across Asia.
"CyLec has been developed to address the requirements of
utilities in next-generation economies, of which India is one of
the leaders; India has a growing population and 300 million without
power* The Indian government has committed to spend billions of
dollars on smart grid infrastructure, according to a new report
from Northeast Group. The report forecasts that over the period
2015-2025 the cumulative spend will be $21.6 billion**. At present,
India has 200 million legacy meters currently deployed and it is
estimated it will install 130 million smart meters by 2021***. We
look forward to building further on our market leading position and
taking a significant role in this technological evolution."
*Source:
http://www.hindustantimes.com/analysis/turn-the-light-on-innovation-and-investment/article1-1260113.aspx
**Source:
http://www.prnewswire.com/news-releases/india-to-spend-216-billion-on-smart-grid-infrastructure-by-2025-300021970.html
*** Source:
http://asian-power.com/sites/default/files/asianpower/print/APMay_2013_lr_12.pdf
Enquiries:
Cyan Holdings plc Tel: +44 (0) 1954
234 400
John Cronin, Executive Chairman www.cyantechnology.com
Allenby Capital Ltd - Nominated Tel: +44 (0) 20
Adviser and Joint Broker 3328 5656
Jeremy Porter / Alex Brearley
Hume Capital Securities plc Tel: +44 (0) 20
- Joint Broker 7101 7070
Jon Belliss
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, 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(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 Enzen
Enzen is a global energy and environment company providing
high-end solutions to the energy and utilities industries. It has
become a partner of choice, successfully implementing projects
for
global utilities across India, the United Kingdom and the United
States.
For more information, please visit http://enzen.com/IN/Home
This information is provided by RNS
The company news service from the London Stock Exchange
END
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