TIDMCYAN
RNS Number : 8577K
CyanConnode Holdings PLC
10 May 2022
10 May 2022
CyanConnode Holdings plc
("CyanConnode" or the "Company")
First Order From IntelliSmart
CyanConnode Holdings plc (AIM: CYAN), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce that it has received its first order from IntelliSmart
Infrastructure Pvt Ltd (IntelliSmart), for a smart metering
deployment in Assam, India .
Under the purchase order, CyanConnode will supply 100,000
Omnimesh Modules together with advanced metering infrastructure,
standards-based hardware, services, Omnimesh head-end software,
perpetual license and an annual maintenance contract.
The supply of Omnimesh Modules has already commenced and the
contract will be completed within 30 months under a DBFOOT (Design,
Build, Finance, Own, Operate, Transfer) model.
John Cronin, Executive Chairman of CyanConnode, commented :
"We are delighted to have received our first order from
IntelliSmart, which is a direct result of our continued association
since last year and in line with our expectations. IntelliSmart is
the first service provider to use the DBFOOT model and it has also
installed the first smart prepaid meter in India under the RDSS
(Revamped Distribution Sector Scheme).
The Indian smart metering market is scaling up to deliver 250
million smart prepaid meters and I believe that CyanConnode's
technology, together with its ability to deliver projects on time
and within budget, will stand it in good stead for the future."
Anil Rawal, MD & CEO of Intellismart, commented :
"IntelliSmart is making history as the organisation that is
implementing the country's first smart metering project under the
Government of India's Revamped Distribution Sector Scheme
(RDSS).
State electricity distribution companies have understood the
benefits of smart meters, mainly in terms of controlling power,
theft and efficient billing and collections. Intellismart has
marked its footprint in Assam by installing the first prepaid meter
on 26 April 2022, marking the first RDSS meter of the country.
We are pleased to be partnering with CyanConnode on this
project, which triggers the silent but steady digital revolution
through smart pre-paid metering through scalable and versatile
large-scale AMI projects not only in Assam but across the
country."
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 865 750
John Cronin, Executive Chairman www.cyanconnode.com
Cenkos Securities plc - Nominated Adviser and Joint Broker Tel: +44 (0) 207 397 8900
Stephen Keys/ Charlie Combe
Arden Partners plc - Joint Broker Tel: +44 (0) 20 7614 5900
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 IntelliSmart
IntelliSmart Infrastructure Private Limited is a joint venture
of National Investment Infrastructure Fund (NIIF) and Energy
Efficiency Services Limited (EESL), established with the defined
goal of pioneering digitalisation in the power sector. One of the
key drivers for IntelliSmart is to enable the implementation of
smart meters through DBFOOT (Design, build, finance, own, operate,
transfer) model to expedite the deployment of the programme by
leveraging resources. IntelliSmart, as a global solutions provider,
will deploy smart meters for the utilities that will drive
efficiencies for Discoms, improve revenue management, increase
billing performance and enhance consumer satisfaction. In the long
run, with smart meter infrastructure, consumer data management and
AI/ML-based analysis, the company seeks to enable utilities to
develop additional revenue sources.
For more information, please visit www.intellismartinfra.in
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END
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