TIDMCYAN
RNS Number : 3996I
CyanConnode Holdings PLC
19 June 2017
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Follow-on orders for a further 10,400 smart meters in India
Strengthened relationship and accelerated roll out at Tata Power
Mumbai
CyanConnode Holdings plc (AIM:CYAN.L), the world leader in
narrowband radio mesh networks, announces new purchase orders for
10,400 smart meters from Larsen & Toubro ("L&T"), which
expand the deployment of CyanConnode's smart metering solution at
Tata Power Mumbai ("Tata Power").
The latest purchase orders from L&T, for CyanConnode's
Advanced Metering Infrastructure ("AMI") solution, are part of a
framework agreement between Tata Power and L&T, announced in
December 2016. The framework agreement enables Tata Power to 'call
off' further deliveries quickly throughout the year without going
through a full procurement process. This latest follow-on orders
further strengthens the Company's existing relationships with Tata
Power and L&T.
CyanConnode will provide communications hardware and software
for the implementation of its narrowband RF mesh AMI solution for
10,400 smart meters for Tata Power consumers in Mumbai, bringing
the total orders to date to 25,100. CyanConnode's AMI technology
provides bidirectional communication between Tata Power's meter
data management system and its consumers' meters, enabling
automated meter reading, regular and accurate billing as well as
providing customers with energy consumption information.
Tata Power continues to expand and now has over 2.6 million
consumer customers, including over 670,000 in Mumbai. In 2016, they
were awarded the distribution franchise for Jamshedpur circle from
the Jharkhand State Electricity Board (JSEB).
John Cronin, CyanConnode Executive Chairman, commented: "These
orders further demonstrate the progress the Company is making in
the Indian market as well as the success of its scalable business
model. We provide partners with world class support, transferring
our expertise to facilitate customer ownership and increase
customer loyalty. Furthermore, the sustained expansion at Tata
Power Mumbai, validates the suitability of CyanConnode's optimised
narrowband mesh network technology for the Indian market and
provides a highly respected customer reference."
"India continues to be a core market and the Company is in a
leading position with an established in-country team and partner
eco-system. The Indian government's approved UDAY scheme, which
aims to deliver the financial turnaround for utilities, has a
target to install 35 million meters by 2019."
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223
225 060
John Cronin, Executive Chairman www.cyanconnode.com
FinnCap Ltd (Nomad and Broker) Tel: +44 20 7220
0500
Adrian Hargrave/Giles Rolls
(Corporate Finance)
Alice Lane (Corporate Broking)
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 Internet of Things (IoT) communications. Its
innovative solutions use sub GHz frequencies and are optimised for
exceptional performance. Ultimesh solutions provide end-to-end
quality of service and total cost of ownership and Panmesh delivers
standards-based IPv6 solutions, enabling rapid innovation for the
implementation of 3rd party applications. Through its global
partner eco-system, CyanConnode 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 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
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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