CyanConnode Holdings PLC African Smart Metering Deployment (4756H)
August 04 2021 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 4756H
CyanConnode Holdings PLC
04 August 2021
04 August 2021
CyanConnode Holdings plc
("CyanConnode" or the "Company")
African Smart Metering Deployment
CyanConnode Holdings plc (AIM: CYAN), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce that it has received a contract for a smart metering
deployment in Africa .
CyanConnode will supply 100,000 Omnimesh Modules together with
Advanced Metering Infrastructure, Services, Omnimesh Head-End
Software, Perpetual License and an Annual Maintenance Contract.
The supply of Omnimesh Modules is expected to commence within Q3
2021, with all Modules being supplied within eighteen months.
Approximately 90% of revenue will be recognised during the first
two years of the contract with the balance being received during
the Annual Maintenance Contract, which commences following the 'Go
Live' phase.
John Cronin, Executive Chairman, commented :
"We are delighted to have received this contract from a new
customer in a new territory, which is once again testament to
CyanConnode's technology. We look forward to working with this new
customer to develop our business in Africa."
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.cyanconnode.com
Arden Partners plc (Nomad and Broker) Tel: +44 (0) 20 7614
5900
Paul Shackleton / Akhil Shah (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
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