TIDMCYAN
RNS Number : 1204H
CyanConnode Holdings PLC
23 March 2020
23 March 2020
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Omnimesh Follow-on Order for Smart Metering in Thailand
CyanConnode Holdings plc (AIM: CYAN), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce a follow-on order for the Metropolitan Electricity
Authority (MEA) in Thailand. The follow-on order is for an
additional 206,735 Omnimesh perpetual software licenses and relates
to the Thailand order announced on 30 December 2019.
MEA is a Thailand state-owned energy utility group serving
around 4 million customers in the city of Bangkok and two adjacent
provinces. MEA is deploying a Smart Metro Grid platform to improve
power availability and reliability, as well as to analyse
distribution losses, automate meter reading, and increase customer
satisfaction.
The follow-on order was placed by Forth Corporation Public
Company Limited (Forth), with The JST Group (JST) acting as
CyanConnode's Agent, and it increases the total value of orders
received for MEA to more than $3
million. Under the contract, a payment of approximately $206,000 is due at the time of order.
The additional Omnimesh software licenses will allow MEA to
connect up to 240,000 smart meters to the Omnimesh Head End Server
(HES), which will serve the Thailand Smart Metro Grid project. The
order also includes an Annual Maintenance Contract for the
maintenance of the HES, providing a further recurring revenue
stream over an initial five-year period.
Delivery of the Omnimesh RF Modules ordered in December 2019,
which are being integrated into Forth's meters, will commence in
May 2020. The RF Modules will use the narrow band frequencies of
442 MMHz and 447MMHz, which have been allocated to Utilities by The
National Broadcasting and Telecommunications Commission (NBTC) of
Thailand and the required NBTC certifications are progressing as
expected.
John Cronin, CyanConnode Executive Chairman, commented :
"We are delighted to receive this follow-on order so soon after
the initial order was placed in December 2019.
"CyanConnode's Omnimesh products met all evaluation criteria and
outperformed competitor solutions and this follow-on order
demonstrates the suitability of Omnimesh for the global smart
metering market.
"We look forward to continuing to work with JST and Forth to
deliver our Omnimesh products throughout Thailand."
John Stamp, JST Group CEO, commented:
"We are pleased to see this follow-on order for additional
software licenses for this project. This demonstrates the
value-added benefits expected by MEA and the suitability of
CyanConnode's Omnimesh technology to the Smart Metro Grid
project."
Mr. Pattanan Amatanon , Forth COO, commented:
"As a leading provider of electricity meters and system
integration, we are pleased to deliver CyanConnode's Omnimesh
solution to MEA. The ease of integration and deployment of the
technology, as well as CyanConnode's expertise in managing data
communication across narrowband networks, were key considerations
when selecting an AMI solution partner for this bid."
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.cyanconnode.com
Yellow Jersey PR (Financial PR) Tel: +44 (0) 20 3004 9512
Sarah Hollins/ Annabel Atkins cyanconnode@yellowjerseypr.com
Arden Partners plc (Joint Broker) Tel: +44 (0) 20 7614 5900
Paul Shackleton / Dan Gee-Summons (Corporate Finance)
Simon Johnson (Corporate Broking)
About CyanConnode
CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio
Frequency (RF) Smart Mesh Networks, which are used for machine to
machine (M2M) communication. As well as being self-forming and
self-healing, CyanConnode's RF Smart Mesh Networks are designed for
rapid deployment, whilst giving exceptional performance and
competitive total cost of ownership.
In June 2018, CyanConnode launched its award-winning Omnimesh
Advanced Metering Infrastructure (AMI) platform, which has already
gained considerable commercial traction, especially in India which
is a key market for the Company.
Through a Global partner eco-system, which is vendor agnostic,
CyanConnode has several routes to market, therefore it is well
positioned to capitalise upon increasing Global demand for smart
metering solutions.
For more information, please visit www.cyanconnode.com
About The JST Group
The JST Group is an independent group of wholly owned Thai
service and supply companies, with over 40 years' experience in
Thailand and South East Asia. JST has developed a flexible
organization structure to provide locally-based and managed
specialist services to meet emerging customer requirements.
For more information, please visit http://www.jst-group.com/
About Forth Corporation Public Company Limited
Forth Corporation Public Company Limited (FORTH) was established
in 1989 and has registered capital amounting to Baht 1 million. The
Company was established to research, develop and manufacture
Private Branch Exchange (PBX) under the trademark of FORTH, Printed
Circuit Board Assembly (PCBA) and electronic equipment
manufacturing.
The Company increased capital and expanded into related-business
e.g. telecommunication equipment manufacturing and distribution and
digital electronic meter manufacturing, etc. In 2006, the Company
was listed on the Stock Exchange of Thailand in 2006 and became the
public company named Forth Corporation Public Company Limited.
For more information, please visit
https://www.forth.co.th/en/
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END
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