TIDMCYAN
RNS Number : 8890Q
CyanConnode Holdings PLC
05 December 2016
CyanConnode Holdings plc
("CyanConnode" or the "Company")
CyanConnode wins Third Smart Metering Order with Larsen &
Toubro
CyanConnode, the world leader in narrowband RF networks for Omni
Internet of Things ("IoT") communications, announces a further
purchase order from Larsen & Toubro ("L&T") to expand the
deployment of CyanConnode's smart metering solution at Tata Power
Mumbai ("Tata Power") with an additional 4,700 smart meters.
This third purchase order from L&T, for CyanConnode's
Advanced Metering Infrastructure ("AMI") solution, is part of a
larger framework agreement between Tata Power and L&T and
follows previous orders of 10,000 consumer meters in Mumbai. The
framework agreement will enable Tata Power to 'call off' further
deliveries quickly over the next 12 months, without going through a
full procurement process.
The purchase order is to provide hardware for the implementation
of CyanConnode's narrowband RF mesh AMI solution, providing
bidirectional communication between Tata Power's meter data
management system and its consumers' meters. CyanConnode's
communication platform enables automated meter reading, regular and
accurate billing as well as providing customers with energy
consumption information. The order is for the deployment of both
single phase and three phase smart meters.
Tata Power continues to grow and now has over 2.6 million
consumer customers, including over 660,000 in Mumbai. They have
recently been awarded the distribution franchise for Jamshedpur
circle from the Jharkhand State Electricity Board (JSEB).
John Cronin, CyanConnode Executive Chairman, commented: "This
order is an encouraging sign of the progress CyanConnode is making
in the Indian market. It demonstrates the success of the company's
scalable business model, with its collaborative approach and
commitment to transferring skills and experience to our partners
in-country, as well as supporting Prime Minister Modi's 'Skill
India' and 'Make in India' initiatives. We are confident that we
have solutions that are providing customer value today, with our
cost-optimised narrowband RF mesh solution, as demonstrated by the
growing implementation at Tata Power. To ensure that we can
continue to provide customer choice and value, we also offer
standards-based solutions for rapid innovation of converged
networks for applications in smart cities and IoT."
India continues to be a focus market and the Company is in a
leading position with an established in-country team as well as a
large partner eco-system. Smart cities are a key topic for
Government and industry and CyanConnode continues to influence the
market at all levels. In September, John Cronin presented at the
Regulators & Policy Makers Retreat in Goa and received an
Independent Power Producers Association of India Power Award for
providing one of the industry's best smart metering innovations.
Earlier this month members of the management team attended the UK
Department of International Trade's delegation to India, led by
Prime Minister May and participated in a Federation of Indian
Chamber of Commerce and Industry held in Sweden, where Indian Power
Minister, Piyush Goyal discussed his vision to make India 100
percent smart in the next 5-6 years.
-Ends-
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). This inside
information is now considered to be in the public domain.
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223
225 060
John Cronin, Executive Chairman www.cyanconnode.com
Cantor Fitzgerald Europe - Tel: +44 20 7894
Nomad and Broker 7000
Andrew Craig / Richard Salmond
Beaufort Securities Limited Tel: +44 (0) 20
- Joint Broker 7382 8300
Jon Belliss
Walbrook PR - Financial PR Tel: +44(0) 20 7933
8780
Paul Cornelius/Nick Rome cyanconnode@walbrookpr.com
About CyanConnode
CyanConnode is a world leader in narrowband RF mesh networks
that enable Omni IoT communications. Cyan's Ultimesh provides
narrowband RF mesh network, optimised for exceptional performance
and total cost of ownership and Connode's Panmesh delivers
standards-based IPv6 solutions, enabling rapid innovation for the
implementation of third party applications. The Group provides
customers with the flexibility and choice required to converge
networks for applications in smart cities and IoT, delivering
increased customer value.
For more information, please visit www.cyanconnode.com.
About Tata Power
Tata Power is India's largest integrated power company with a
growing international presence. The Company together with its
subsidiaries and jointly controlled entities has an installed gross
generation capacity of 10477 MW and a presence in all the segments
of the power sector viz. Fuel Security and Logistics, Generation
(thermal, hydro, solar and wind), Transmission, Distribution and
Trading. It has successful public-private partnerships in
Generation, Transmission and Distribution in India namely "Tata
Power Delhi Distribution Limited" with Delhi Vidyut Board for
distribution in North Delhi, 'Powerlinks Transmission Ltd.' with
Power Grid Corporation of India Ltd. for evacuation of Power from
Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with
Damodar Valley Corporation for a 1050 MW Mega Power Project at
Jharkhand. Tata Power is serving more than 2.6 million distribution
consumers in India and has developed the country's first 4000 MW
Ultra Mega Power Project at Mundra (Gujarat) based on
super-critical technology. It is also one of the largest renewable
energy players in India with a clean energy portfolio of 3042 MW.
Its international presence includes strategic investments in
Indonesia through a 30% stake in the leading coal company PT Kaltim
Prima Coal (KPC), 26% stake in mines at PT Baramulti Suksessarana
Tbk ("BSSR"); in Singapore through Trust Energy Resources to
securitize coal supply and the shipping of coal for its thermal
power generation operations; in South Africa through a joint
venture called 'Cennergi' to develop projects in sub-Sahara Africa;
in Zambia through 50:50 joint venture with ZESCO for 120 MW Hydro
which has become operational in 2016; in Georgia through AGL which
is a joint venture with Clean Energy, Norway & IFC for
development of 185 MW hydro project which is scheduled to be
commissioned in 2016; in Australia through investments in enhanced
geothermal and clean coal technologies and in Bhutan through a
hydro project in partnership with The Royal Government of Bhutan.
With its track record of technology leadership, project execution
excellence, world class safety processes, customer care and driving
green initiatives, Tata Power is poised for a multi-fold growth and
committed to 'lighting up lives' for generations to come".
For more information, please visit www.tatapower.com
About Larsen & Toubro
Larsen & Toubro is a USD 15 billion technology, engineering,
construction, projects, manufacturing and financial services
conglomerate, with global operations.
The company is engaged in core, high-impact sectors -
infrastructure, construction, defence, hydrocarbon, heavy
engineering, power, aerospace, shipbuilding, electrical &
automation, mining and metallurgy. Its integrated capabilities span
the entire spectrum of 'design-to-deliver', and it offers turnkey
EPC solutions in its major business lines. Its track record covers
products, projects and processes executed to international
benchmarks.
Electrical & Automation is a major business portfolio of
Larsen & Toubro. The business basket of Electrical &
Automation (E&A) contains low and medium voltage switchgear
products, electrical systems, energy meters and automation
solutions. Its products and solutions cater to industry, utility,
building & home, infrastructure and agriculture segments.
For more information, please visit www.larsentoubro.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 05, 2016 02:45 ET (07:45 GMT)
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