TIDMCYAN
RNS Number : 6435A
CyanConnode Holdings PLC
25 May 2023
25 May 2023
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Order for 600,000 Omnimesh Modules
CyanConnode Holdings plc (AIM: CYAN), a global leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce the receipt of an order from Paschimanchal Infrastructure
Pvt Ltd, a subsidiary of IntelliSmart Infrastructure Private Ltd,
for 600,000 Omnimesh Modules. The order also includes Advanced
Metering Infrastructure (AMI), Standards-Based Hardware, Services,
Omnimesh Head-End Software, a Perpetual License, and an Annual
Maintenance Contract. The order will support a smart metering
deployment in the utility, Pachimanchal Vidyut Vitran Nigam Ltd
(PVVNL), located in Uttar Pradesh, India.
The supply of Omnimesh Modules for this project is expected to
commence during the next quarter, and the deployment will be
completed within 27 months, under a DBFOOT (Design, Build, Finance,
Own, Operate, Transfer) model. A support and maintenance contract
will be in effect for a period of seven and a half years after the
go-live stage.
John Cronin, Executive Chairman of CyanConnode, commented :
"We are delighted to have received this order from Pachimanchal
Infrastructure, which also aligns with the State Government of
Uttar Pradesh's vision of ensuring uninterrupted power supply for
its citizens. This order signifies a significant milestone, as it
will bring the total number of Omnimesh Modules deployed in India
to 4.2 million, with over 1.3 million of those modules already
deployed and operational. We look forward to the implementation of
this important project and delivering upon our commitment."
IntelliSmart, commented :
"IntelliSmart, a leading smart metering and digital solutions
provider, has established itself as a leader with a proven record
of project implementation. As we expand, our subsidiary,
Paschimanchal Infrastructure, is being built on the same values and
pillars as IntelliSmart and we will remain committed to timely
delivery of the largest smart metering project tendered so far in
the country. We are pleased to partner with CyanConnode in keeping
with the LOA to meet the AMI requirements."
Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 865 750
John Cronin, Executive Chairman www.cyanconnode.com
Strand Hanson Limited (Nominated and Financial Adviser) Tel: +44 (0) 20 7409 3494
James Harris, Richard Johnson, David Asquith
Zeus Capital Limited (Broker) Tel: +44 (0) 20 3829 5000
Simon Johnson, Alexandra Campbell-Harris
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 India's leading
smart metering and digital solutions provider. It is a joint
venture of National Investment and Infrastructure Fund (NIIF) and
Energy Efficiency Services Limited (EESL), established with the
core purpose of becoming the most preferred digital partner of the
utilities. Our organisational culture is built on the core values
of Integrity, Respect, Innovation and Sustainability, which
influence our everyday endeavours and collective practices.
IntelliSmart, as a digital solutions provider, aims to create a
difference in the power distribution sector with digital
interventions while shouldering the responsibility of mass-scale
rollout of smart meters under RDSS. With smart meter
infrastructure, consumer data management and AI/ML-based analysis,
the company seeks to create considerable value for state utilities
by enabling them to develop additional revenue sources. In the long
run, smart metering will help create a robust, resilient, flexible
smart grids that can integrate renewable energy seamlessly to meet
India's growing power demand.
Website: https://www.intellismartinfra.in/
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