CyanConnode Holdings PLC Agreement with Adtel
15 November 2018 - 6:01PM
RNS Non-Regulatory
TIDMCYAN
CyanConnode Holdings PLC
15 November 2018
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Agreement with Adtel
Philippines Smart Metering Market
CyanConnode, a world leader in narrowband radio frequency (RF)
mesh networks, is pleased to provide details of a distribution
agreement entered into with Adtel Inc ("Adtel") to distribute
CyanConnode's smart metering RF network technology in the
Philippines.
Adtel distributes communication network equipment across the
Philippines and its parent company Lopez Inc also supplies the
electric power distribution sector in the region. Both are able to
offer its customers CyanConnode's smart metering RF network
technology.
Under the terms of the agreement, entered into in August 2018,
which includes sales performance milestones, Adtel and its
subsidiary Quantum Renewable Inc will distribute CyanConnode's
Optimal technology, an end-to-end smart metering RF network
solution that includes software and RF network management tools,
including head end software. Further details can be found at:
https://www.quantumre.com.ph/ar/smart-meter.html.
Rising demand for electricity and growing penetration of
renewable energy technologies have been posing major challenges to
utilities in Southeast Asia. This has brought smart electricity
grid technologies to the forefront and Northeast Group LLC, a
market intelligence firm based in Washington, D.C., with expertise
in the smart infrastructure and smart grid sectors, has forecast
that Southeast Asia will invest $9.8 billion in smart grid
infrastructure over the next decade. It estimates the largest
market segment will be Advanced Metering Infrastructure where an
investment of $4.6 billion will be made(1) . CyanConnode estimates
that the addressable market for smart meters in the Philippines
alone is close to 21 million units, providing a sizeable market
opportunity(2) .
Harry Berry, CyanConnode's Chief Operating Officer, commented:
"CyanConnode is very pleased to have entered into this partnership
with Adtel, who will provide a distribution channel for the
Company's smart metering RF network technology in the Philippines,
thereby increasing global reach.
"CyanConnode's cost-effective technology enables it to break
into emerging markets and its partnering with Adtel gives it a
tactical and logistical advantage over selling directly to
customers."
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
Ed Frisby/ Giles Rolls (Corporate Finance)
Alice Lane (ECM)
Walbrook PR (Financial PR) Tel: +44(0) 20 7933 8780
Paul Cornelius / Nick Rome cyanconnode@walbrookpr.com
(1)
http://www.northeast-group.com/reports/Brochure-Southeast%20Asia%20Smart%20Grid-Market%20Forecast%202018-2027%20-%20Northeast%20Group.pdf
(2) Based on analysis prepared by Milner Strategic Marketing
About CyanConnode
CyanConnode is a world leader in narrowband radio frequency (RF)
mesh networks that facilitate machine to machine (M2M)
communication. CyanConnode's innovative technology uses the
industrial, scientific, and medical radio band, (ISM), which is
optimised to give exceptional performance and competitive total
cost of ownership. Through global partnerships, CyanConnode
provides customers with a solution for the rapid deployment of
local or countrywide ISM RF mesh networks that provide reliable and
secure M2M communication.
For more information, please visit www.cyanconnode.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRAUSOKRWWAAAAA
(END) Dow Jones Newswires
November 15, 2018 02:01 ET (07:01 GMT)
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Apr 2024 to May 2024
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From May 2023 to May 2024