CyanConnode Holdings PLC $1.1 million purchase order from India (2348K)
July 06 2017 - 1:00AM
UK Regulatory
TIDMCYAN
RNS Number : 2348K
CyanConnode Holdings PLC
06 July 2017
CyanConnode Holdings plc
("CyanConnode" or the "Company")
$1.1 million purchase order from India
Contract win for IPv6-based smart metering solution in India
CyanConnode, the world leader in narrowband radio mesh networks,
announces receipt of a purchase order from Genus Power
Infrastructures Ltd ("Genus") for a smart metering deployment for
the Indian state-owned utility Uttar Gujarat Vij Company Ltd
("UGVCL"). This is the Company's first contract award from its new
partner, Genus, a tier one meter provider with the largest
installed base in India and supplier to multiple utilities.
The purchase order is for a smart metering implementation of
over 23,000 units, to be deployed over the next 18 months, for
UGVCL customers in Naroda, a suburban town in the fast-growing
areas of Ahmedabad. UGVCL operates in the northern parts of Gujarat
and serves a consumer base of more than three million, providing
substantial scope for follow on orders in the future.
This is the first order from India for CyanConnode's
IPv6-6LoWPAN based Advanced Metering Infrastructure ("AMI")
solution for volume commercial deployment, highlighting the
benefits of the Company's range of solutions while further
expanding its product footprint within the region. The IPv6-based
technology was developed by Connode AB in Sweden, prior to the
Company's acquisition, which was completed in July last year. The
IPv6-based solution will enable CyanConnode's first IoT
communication network, supporting the connectivity of smart city
and IoT applications through one network in the future.
CyanConnode's future-proof technology will allow the utility to
leverage the initial investment in a smart metering solution to
build out smart city services at minimal cost.
CyanConnode will supply its standards-based hardware, services
and head end software licenses to Genus. The software will be
charged on a per meter per year basis with an annual maintenance
contract, delivering a recurring revenue stream over the initial
four-year contract term. As the prime contractor to UGVCL, Genus
will integrate CyanConnode's narrowband RF mesh technology with its
IS 6444 (Bureau of Indian Standards meter protocol) meters to
supply the first CyanConnode IPv6-enabled smart meter. Genus will
also provide system integration and project management to
UGVCL.
JK Agarwal, Joint MD Genus Power, commented:"As a leading "Made
in India" meter manufacturer, with the largest installed base of
meters in India, it is imperative that Genus provides a range of
highly innovative and sustainable solutions smart energy metering
products for utilities and customers. The implementation of
CyanConnode's world class communication solution, based on IPv6
narrowband RF mesh network, will meet the technical requirements
for AMI in India. CyanConnode's robust networks are proven by its
customer deployments globally and Genus looks forward to working
with CyanConnode on this and other projects in India. By joining
hands with such proven players, we are committed to make Smart
Cities and Smart Grid possible in India."
John Cronin, CyanConnode Executive Chairman, commented: "We are
pleased to receive this order for an IPv6-based smart metering
solution from a new meter manufacturer partner in India, Genus. The
acquisition of Connode last year has ensured that we are
well-positioned to meet the evolving needs of the Indian market in
terms of specific functions such as IPv6-based smart metering
solutions. IP-based narrowband mesh solutions allow greater
flexibility and rapid innovation, allowing customers to leverage
investment in single-application platforms to build out smart city
and Internet of Things services. We are very excited by the growing
number of opportunities provided by our standards-based offering
and look forward to winning more new orders as the global demand
for these solutions grows."
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225
060
John Cronin, Executive Chairman www.cyanconnode.com
FinnCap Ltd (Nomad and Broker) Tel: +44 (0) 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 3(rd) 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 Genus
Genus Power Infrastructures Limited, an ISO 9001 & 14001
certified company is an integral part of the US $400 million
Kailash Group. Genus has two business divisions offering highly
innovative and sustainable solutions to the power sector.
The Metering Solution Division provides a complete range of
Electricity Meters such as Multi-Functional Single Phase and Three
Phase Meters, CT Operated Meters, ABT & Grid Meters, DT Meters,
Pre-Payment Meters, Smart Meters, AMI, MDAS etc.
The Engineering Construction and Contracts Division undertakes
Turnkey power projects such as Sub-Station erection up to 420kV,
Laying up of transmission & distribution lines, Rural
Electrification, Switchyard, Network Refurbishment etc.
Equipped with avant-grade manufacturing facilities, complete
forward and backward integration from plastic parts to final
products, automated SMT lines, Lean Assembly techniques and a team
of highly qualified and experienced engineers, Genus is committed
to develop innovative and customized solution at an affordable
price. Our top-notch R&D Center, recognised by the Ministry of
Science and Technology, Govt. of India, has enabled the company to
dominate the power infrastructure and be at the forefront of new
technology.
For more information, please visit http://genuspower.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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