17 July 2024
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Indian Subsidiary Achieves
Key Milestones with Site Acceptance Tests and Project
Go-Lives
CyanConnode Holdings plc (LSE: CYAN), a global leader in
narrowband radio frequency (RF) smart mesh networks,
is pleased to announce significant progress in its
Indian operations through its subsidiary, CyanConnode Pvt. Ltd
(CPL). CPL has passed multiple Site Acceptance Tests (SATs) across
several key projects and has achieved "Go Live" status in one,
marking a crucial milestone that enables the commencement of
billing for deployed meters.
The "Go Live" milestone is a critical
achievement for any project as it signifies the transition to the
billing phase, allowing for revenue generation. The SAT
qualification process involves rigorous quality and performance
testing of the meters and the communication network, ensuring the
highest standards of operation.
Below are the highlights of the projects that
have successfully passed SAT:
·
MP Jabalpur
Project: CyanConnode's partner, M/S
Montecarlo Limited, has received the "Go Live" certificate for SATs
3, 4, and 5 from Madhya Pradesh Poorv Kshetra Vidyut Vitaran
Company Ltd (MPKVVNL), Jabalpur DISCOM. The project has been
consistently meeting a billing service level agreement (SLA) of
~99% against the requirement of 98% SLA.
·
SBPDCL
IntelliSmart and Genus Projects: The
South Bihar Power Distribution Company Limited (SBPDCL)
IntelliSmart Project in Bihar has received the "Go Live"
certificate, successfully completing SAT 1. Similarly, CyanConnode
has successfully completed the 5th consecutive SAT for the Bihar
Genus project.
·
MGVCL
IntelliSmart Project: The Madhya
Gujarat Vij Company Limited (MGVCL) IntelliSmart project has
successfully completed SAT 1 for 9,600 meters. This success
demonstrates our expertise and capability to meet and exceed DISCOM
expectations.
·
APDCL
Project: SAT 20 for Assam Power
Distribution Company Limited (APDCL) in Assam has been successfully
completed, marking another significant milestone for CyanConnode in
the region.
John Cronin, Executive Chairman of
CyanConnode, commented:
"I am extremely proud of the achievements of
our team at CyanConnode. The successful completion of these Site
Acceptance Tests and the Go-Live status in key projects are
testaments to our commitment in delivering high-quality, reliable
solutions to our clients. The recognition of our solution by
utilities further strengthens our resolve to maintain high
standards. These milestones not only pave the way for revenue
generation but also reinforce our reputation for excellence in the
smart metering industry. My heartfelt thanks and congratulations to
the entire team for their dedication and hard work."
-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 (Joint
Broker)
Tel: +44 (0) 20 3829 5900
Simon Johnson / Louisa
Waddell
Panmure Gordon (UK) Limited (Joint
Broker)
Tel: +44 (0) 20 7886 2500
Rupert Dearden / Freddy
Crossley
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.