CyanConnode Holdings PLC Omnimesh Smart Metering Solution Official Launch
June 27 2018 - 1:00AM
RNS Non-Regulatory
TIDMCYAN
CyanConnode Holdings PLC
27 June 2018
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Official Launch of Omnimesh Smart Metering Solution
CyanConnode (AIM: CYAN), the world leader in narrowband radio
mesh networks, has today officially launched its cost-optimised
standards-based Omnimesh smart metering application at Asia Utility
Week in Bangkok.
The benefits of this additional route to market have already
been highlighted by orders won in India worth $4.3m and the Board
believes the Company is well placed to take advantage of growing
demand for standards-based solutions.
The Omnimesh Application
Delivered as part of CyanConnode's Omni IoT Platform, Omnimesh
provides electricity metering capability. Based on IPv6 6 LoWPAN
narrowband RF mesh technology, Omnimesh is a scalable, robust
system that provides cost-effective communication capabilities,
supporting the Smart Grid.
In July 2016, the Company acquired Connode Holding AB, a leading
provider of IPv6-based solutions including a software license and
support contract for the UK Smart Metering Implementation
Programme. Following the acquisition, CyanConnode has rapidly
engineered a cost optimised standards-based smart metering
solution, designed to enable utilities to remotely monitor and
control energy usage to reduce distribution losses. Omnimesh is
designed to support global and country-specific Advanced Metering
Infrastructure (AMI) standards, including those developed by Bureau
of Indian Standards.
Global Opportunity
Omnimesh is designed to enable utilities to gather complete,
accurate and timely customer metering data. This supports loss
reduction programmes and reduces energy costs by maximising billing
revenues and increasing power quality and customer experience. In
addition, energy distribution reliability and resilience is
improved by rapidly identifying and responding to peaks in demand,
quickly locating and resolving faults and implementing real time
controls to prevent minor faults developing into wider outages.
Utilities can also implement real time pricing and enable customers
to control energy consumption and costs. Most importantly, Omnimesh
allows utilities to maximise smart grid investment by extending
existing and new command and control capabilities over dedicated
communication networks which reduce total cost of ownership.
The global AMI market is growing rapidly with much more
demanding operating requirements. Omnimesh features, functionality
and widely adopted standards meet the requirements of increasingly
complex tenders, at a price point that supports utilities' business
cases at all deployment scales. This changing dynamic has created
enormous interest in Omnimesh and built positive momentum across
the market.
John Cronin, CyanConnode Executive Chairman commented: "The
development of our new Omnimesh product expands our global reach
and ensures our technology can support global and country-specific
standards for AMI. Furthermore, this launch signifies the end of a
major development programme for the Company, which will result in a
substantial reduction in development costs at the same time as
opening up new revenue streams.
"Ahead of today's official launch at Asia Utility Week, we are
already rolling Omnimesh out to two Indian customers, which
demonstrates the suitability of the product as well as the growing
demand for standards-based solutions."
Jitendra Kumar Agarwal, Genus Power Joint Managing Director
commented: "CyanConnode's world class communication solution, based
on IPv6 narrowband RF mesh network, meets the technical
requirements for AMI for many of the utilities in India. Following
the rapid integration of CyanConnode's technology with our IS 16444
meters (Bureau of Indian Standards meter protocol) we are now
implementing the IPv6-enabled smart meters at UGVCL. We understand,
CyanConnode's robust networks are proven by its customer
deployments globally and therefore Genus looks forward to working
with CyanConnode on this and other similar projects in India. By
joining hands with such proven players, we are committed to make
Smart Cities and Smart Grid possible in India."
For more information about Omnimesh, or any of CyanConnode's
products and services, see www.cyanconnode.com or email
information@cyanconnode.com.
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 the design and development of
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. Optimal
solutions provide end-to-end quality of service with reduced total
cost of ownership and Omnimesh delivers standards-based IPv6
solutions, enabling rapid innovation for the implementation of
third party applications. Through global partnerships, 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.
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END
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