CyanConnode Holdings PLC Appointment of Adviser
May 12 2022 - 1:02AM
RNS Non-Regulatory
TIDMCYAN
CyanConnode Holdings PLC
12 May 2022
12 May 2022
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Appointment of Saurabh Kumar as Adviser to CyanConnode
CyanConnode Holdings plc (AIM: CYAN), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce that it has appointed Saurabh Kumar as an adviser to the
Company.
Saurabh Kumar is an internationally recognised authority on
designing and implementing scalable, replicable, and impactful
business models for promoting energy efficiency.
Mr Kumar is well known in the energy efficiency sector in India,
having held senior roles such as Secretary of the Bureau of Energy
Efficiency in the Union Ministry of Power and serving the United
Nations in handling environmental issues for the Asia-Pacific
region.
In May 2013, he was appointed as Managing Director (MD) of
Energy Efficiency Services Limited (EESL), an energy service
company of the Government of India. Under his leadership, EESL
implemented the globally-lauded Unnat Jyoti by Affordable LEDs for
All (UJALA) programme and Street Light National Programme (SNLP).
He served in the role of MD until August 2020, when he was
appointed as Group Executive Vice Chairperson of EESL, a position
he held until September 2021.
As an adviser to CyanConnode, Mr Kumar will be working closely
with the Board and senior management of the Company helping design
business models and secure project finance for large scale smart
prepaid metering projects in India. This all falls under the
Government of India's advanced metering infrastructure (AMI)
service provider (AMISP) model known as Design-Build
Finance-Own-Operate-Transfer (DBFOOT) or Opex model.
John Cronin, Executive Chairman of CyanConnode, commented :
"I am delighted to have Saurabh on board at this exciting time
for the Company. As the Indian smart metering market continues to
scale up to deliver 250 million smart prepaid meters, large amounts
of flexible funding and various different business models will be
required to facilitate the roll out of large scale projects. I
believe that having an adviser with Saurabh's knowledge and
experience will prove to be invaluable for the Company."
Saurabh Kumar commented :
"I am pleased to be working with the CyanConnode team as India
moves forward with its smart metering rollout. I have seen
CyanConnode's technology and know that utilities in India will
benefit significantly from implementing its solution.
Indian distribution companies are looking for service level
agreements (SLAs) of greater than 99.5% and CyanConnode has a
proven system in the market today (achieving the SLA metric of
99.5%). I believe that CyanConnode is well-placed to secure a
significant share of the Indian smart prepaid metering market."
- 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
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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