CyanConnode Holdings PLC $3.2 million order from India (6446O)
21 May 2018 - 4:00PM
UK Regulatory
TIDMCYAN
RNS Number : 6446O
CyanConnode Holdings PLC
21 May 2018
CyanConnode Holdings plc
("CyanConnode" or the "Company")
$3.2 million order from India
Largest order to date for IPv6-based smart metering solution in
India
CyanConnode, the world leader in narrowband radio mesh networks,
announces confirmation of a purchase order from Larsen & Toubro
(L&T) for a smart metering deployment based solution that will
enable a secure, IoT network canopy covering 15 zones of the Indore
circle from the Indian state-owned utility Madhya Pradesh Paschim
Kshetra Vidyut Vitaran Company Ltd ("MPWZ") worth $3.2m, to
commence deployment in the current financial year.
This is a further order from L&T for whom it has already
delivered 25,100 units throughout India. Importantly, this is the
second order for CyanConnode's new Omnimesh Advanced Metering
Infrastructure ("AMI") solution, highlighting the strong value
proposition of the Company's advanced IPv6 standards based product,
which is now becoming the requirement in certain territories around
the World.
Order details
The purchase order is for an IPv6-based smart metering
implementation for MPWZ in Indore. The smart meters will be
deployed over the next two years with initial delivery commencing
before the end of the current financial year.
MPWZ operates in Madhya Pradesh and serves a consumer base of
more than three million in Indore and Ujjain, providing substantial
scope for follow-on orders in the future. CyanConnode will supply
its Advanced Metering Infrastructure (AMI) standards-based
hardware, services and head end software licenses to L&T. The
software will be charged on a per meter per year basis with an
annual maintenance contract, delivering a recurring revenue stream
over the initial five-year contract term.
The IPv6-based solution
CyanConnode's IPv6-based solution will enable a secure, IoT
network canopy covering 15 zones of the Indore circle, with a
capacity to connect up to 250,000 devices. The standards-based
narrowband mesh technology supports build-as-you-go networks, which
will allow MPWZ to rapidly scale its smart metering implementation
across its consumer base.
CyanConnode's technology, which meets the technical requirements
for AMI in India, will be integrated with L&T's IS 16444 smart
meters to comply with Bureau of Indian Standards meter protocol.
The integrated solution, which includes meters, RF mesh
communication and head end meter management will enable MPWZ to
remotely monitor and control energy usage to reduce distribution
losses
John Cronin, CyanConnode Executive Chairman, commented: "We are
pleased to announce such a significant order from our strategic
partner, L&T. During 2017 the company continued its positive
momentum in the region and this second contract win for
CyanConnode's new Omnimesh demonstrates the suitability of the
product as well as the growing demand for standards-based
solutions.
"CyanConnode are working in partnership with L&T,
collaboratively addressing the evolving needs of the Indian
utilities sector. L&T is a leading provider to the Indian
utility sector and the integration of CyanConnode's standards-based
communication technology with its smart meters demonstrates the
strength of the partnership as well as the suitability of our
award-winning technology for the Indian market."
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 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 and total cost of ownership and IPv6 6LoWPAN
delivers standards-based IPv6 solutions, enabling rapid innovation
for the implementation of 3(rd) party applications. Through its
global partner eco-system, 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.
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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