TIDMCYAN
RNS Number : 5345Q
CyanConnode Holdings PLC
20 February 2019
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Follow-on Order from Larsen & Toubro
CyanConnode, a world leader in Narrowband Radio Frequency (RF)
Smart Mesh Networks, is pleased to announce that it has received a
follow-on order from Larsen & Toubro (L&T) for the Madhya
Pradesh Paschim Kshetra Vidyut Vitaran Company Ltd (MPWZ), worth
approximately $480k.
In 2018, CyanConnode announced receipt of an order worth $3.2m
from L&T, relating to the deployment of its Omnimesh solution
for MPWZ). Hardware for the order was delivered to L&T during
2018 and the deployment has progressed rapidly.
Upon implementation of CyanConnode's Ominimesh solution, MPWZ
has seen dramatic improvements in billing efficiency, particularly
in 'Feeder' areas with high non-technical losses. As a consequence,
MPWZ has decided to increase the quantity of smart meter
deployments in 'Feeder' areas with high non-technical losses first,
the result of which is to reduce the number of RF Smart Mesh
Network Canopy Gateway deployments but increase the number of RF
Module deployments.
With the increased number of RF Module deployments, the combined
value of the original order and the follow-on order has increased
to approximately $3.68m.
MPWZ, the State-owned utility, operates in Madhya Pradesh and
has over 3 million electricity meters, located in Indore, Ujjain
and other cities. CyanConnode's technology, which meets the
technical requirements for Advanced Metering Infrastructure in
India, has been integrated into L&T's IS 16444 Smart Meter,
which complies with the 'Bureau of Indian Standards' meter
protocol.
CyanConnode's Omnimesh solution provides automated meter reading
including; on-demand meter reading, remote meter
disconnection/reconnection, alerts and alarms including outage
notifications, all of which helps Utilities to improve their
billing efficiency as well as reducing non-technical losses.
Anil Daulani, Managing Director India, commented: "CyanConnode
India is pleased to announce the first follow-on order for its
Omnimesh solution, which was officially launched in June last
year.
"Our RF Smart Mesh Network technology facilitates the deployment
of a build-as-you-go smart network canopy, which will enable MPWZ
to scale-up smart metering deployment across its customer base in a
cost-effective and flexible manner. MPWZ's implementation
demonstrates how standards-based technology can be integrated and
deployed swiftly, facilitating billing efficiency and reduction of
non-technical losses."
"CyanConnode has made significant progress in India with its
revolutionary Omnimesh technology, which is demonstrated by a
current Indian order book of over $20m."
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.cyanconnode.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 is a world leader in Narrowband Radio Frequency (RF)
Smart Mesh Networks that facilitate machine to machine (M2M)
communication. CyanConnode's innovative network technology, which
is self-forming and self-healing, uses the Licence Free Industrial,
Scientific and Medical Radio Band which is optimised to give
exceptional performance and competitive total cost of ownership.
Through global partnerships, CyanConnode provides customers with
solutions for the rapid deployment of build-as-you-go Narrowband RF
Smart Mesh Networks, that provide reliable and secure citywide or
countrywide M2M communication.
For more information, please visit www.cyanconnode.com
About Larsen & Toubro
Larsen & Toubro is a USD 15 billion technology, engineering,
construction, projects, manufacturing and financial services
conglomerate, with global operations. The company is engaged in
core, high-impact sectors - infrastructure, construction, defence,
hydrocarbon, heavy engineering, power, aerospace, shipbuilding,
electrical & automation, mining and metallurgy. Its integrated
capabilities span the entire spectrum of 'design-to-deliver', and
it offers turnkey EPC solutions in its major business lines. Its
track record covers products, projects and processes executed to
international benchmarks.
Electrical & Automation is a major business portfolio of
Larsen & Toubro. The business basket of Electrical &
Automation (E&A) contains low and medium voltage switchgear
products, electrical systems, energy meters and automation
solutions. Its products and solutions cater to industry, utility,
building & home, infrastructure and agriculture segments.
For more information, please visit www.larsentoubro.com
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END
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