Cyan Holdings Plc Purchase order for smart metering in Iran (4366O)
February 09 2016 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 4366O
Cyan Holdings Plc
09 February 2016
Cyan Holdings plc
("Cyan" or the "Company")
Purchase order for smart metering in Iran
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 an
initial purchase order from telecommunications contractor
Micromodje for a 2,000 unit smart metering implementation, which
will be fitted into street traffic cameras in the Islamic Republic
of Iran.
This initial purchase order is worth GBP67,000 with an upfront
payment of GBP50,000. The order from Micromodje is for the supply
of Cyan's CyLec Advanced Metering Infrastructure solution, which
includes RF modules, data concentrator units, head-end software
("HES") licenses (charged on a per meter per year basis), software
installation services and an annual software maintenance agreement
(also charged on a per meter per year basis). The order was placed
only a couple of weeks after international sanctions were lifted on
Iran on 16 January and is believed to be one of the first orders
secured by a UK business, with support from the specialist UK Trade
and Investment team.
The first units were delivered at the start of last week and
were successfully deployed in a two day period for a proof of
concept to measure the energy consumption of the street cameras.
The Cyan HES has been installed on a Micromodje server in Iran and
the Cyan end to end solution is providing meter readings every 30
minutes as well as the ability to connect/disconnect supply. The
solution has been demonstrated to Micromodje's Iranian customer.
The proof of concept had to be ready for a demonstration to
government officials as part of the Victory Day of the Iranian
Revolution celebrations on 11 February in Tehran.
Micromodje is a system integrator with a wealth of experience in
delivering solutions for government contracts and has recently been
expanding its core capabilities to include the emergent Internet of
Things ("IoT") connectivity markets. It will act as a distribution
agent of Cyan's smart metering hardware and software in Iran,
whilst providing a complete turn-key service for the fulfilment of
the deployments.
Micromodje and Cyan have now commenced discussions on a larger
purchase order for smart electricity metering solutions to be
deployed within Iran. The Iran Government estimate is 33 million
smart electricity meters will be required1.
John Cronin, Executive Chairman of Cyan, commented: "We are
delighted to be partnering with Micromodje in Iran, particularly at
this historic time following the lifting of economic sanctions
against Iran on 16 January 2016. The combined Cyan team from India
and the UK exceeded the customer's expectations by deploying the
proof of concept pilot in only two days. The order from Micromodje
shows its confidence in Cyan's enabling technology and we look
forward to working with a highly experienced system integrator to
deliver smart metering technology, enhancing the quality of service
for energy utilities and customers in Iran."
Mr Goldouzian, Managing Director of Micromodje, commented:
"Cyan's capability has been optimised for emerging regions,
enabling these markets to address a number of challenges driven by
rapid growth and the demand for energy. Its collaborative approach
will empower Micromodje with new skills and expertise and we look
forward to being part of Cyan's global smart metering
eco-system."
Regulatory Confirmation Received
Micromodje has obtained import licenses from various Government
institutions and Cyan has obtained regulatory approvals to enable
Cyan's CyLec smart metering solutions to be exported and deployed
in Iran. As part of the initial project setup, Cyan has sought
specialist legal advice on doing business with Iran in order to
ensure full compliance with all appropriate international
regulations, including the receipt of payments from an Iranian
bank. Cyan has ensured that no parties involved in the transaction
are on the European Union sanctioned list or the US Office of
Foreign Assets Control Specially Designated Nationals list as well
as no party being owned or controlled by the Iran Revolutionary
Guards Corp. Cyan has also obtained export approval from the UK
Government Export Controls Organisation to deliver this initial
order from Cyan's wholly owned Indian subsidiary and is now in the
advanced stages of acquiring export approval to deliver direct from
Cyan UK for future orders. Following 'Implementation Day' on 16
January 2016 where the International Atomic Energy Agency agreed
that Iran has fulfilled its side of last year's landmark nuclear
deal, the United States, European Union and United Nations have
agreed to the lifting of economic sanctions against Iran. This has
now allowed the progression of this order alongside the legal
advice and approvals as detailed above having been obtained.
Source:
1
http://www.iransg.com/saba_content/media/image/2015/10/7873_orig.pdf
Enquiries:
Cyan Holdings plc Tel: +44 (0) 1954 234
400
John Cronin, Executive Chairman www.cyantechnology.com
Cantor Fitzgerald Europe - Nomad and Tel: +44 (0) 20 7894
Broker 7719
Andrew Craig / Chris Viggor / Richard
Salmond
Beaufort Securities Limited - Joint Tel: +44 (0) 20 7382
Broker 8300
Jon Belliss
Walbrook PR - Financial PR Tel: +44(0) 20 7933 8780
Paul Cornelius / Nick Rome cyan@walbrookpr.com
About Cyan
Cyan provides a communication platform for energy, lighting and
emerging applications in the wider 'Internet of Things' network.
Its integrated platform and partner collaborations deliver
end-to-end solutions that connect millions of devices and support
bidirectional communication with the end customer. Cyan's smart
metering and lighting solutions enhance quality of service in
emerging regions, through power savings, lower operating costs and
increased cost efficiency. Our vision to create improved value
through Smart City solutions has provided our customers with the
foundation upon which to build incremental services as these
markets evolve.
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 Micromodje
Micromodje was established in 1991 and has grown at a
spectacular rate to become a leading manufacturer and supplier of
various types of telecom equipment and services in Iran. It started
with the design and production of RF equipment and over the years
Micromodje has shifted its activities towards the implementation of
turn-key projects working as a general contractor and has
successfully executed a number of projects such as the
telecommunication system of Imam Khomeini New International
Airport.
With a turnover of approximately US$45 million, Micromodje has
been recognised as a Grade 1 General Contractor for the production,
implementation and commissioning of turn-key telecommunication
projects. Recently, one of the companies established by Micromodje
(having 40% of its share) was awarded projects of approximately
US$320 million as part of the expansion of mobile network in
Iran.
For more information, please visit
http://micromodje.com/index.htm
This information is provided by RNS
The company news service from the London Stock Exchange
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