CyanConnode Holdings PLC Follow-on order for Swedish utility (4722X)
30 April 2019 - 4:00PM
UK Regulatory
TIDMCYAN
RNS Number : 4722X
CyanConnode Holdings PLC
30 April 2019
30 April 2019
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Follow-on order for Swedish utility
CyanConnode Holdings plc, (AIM:CYAN), a global leader in IoT
smart communications technology utilising narrowband Radio
Frequency (RF) for smart city solutions, is pleased to announce
that it has received a follow-on order from HM Power, for a smart
metering implementation for a Swedish utility, worth SEK 8.6
million (GBP700k). Deliveries for this order are expected to
commence in Q3 2019 and will continue into future periods. The
final roll-out schedule is still being agreed with the
customer.
The follow-on order, which relates to the order announced on 16
July 2018, was received following the successful completion of a
smart metering pilot in Q3 2018, and leverages the functionality of
Omnimesh. CyanConnode's solution provides long-range RF
communications, which will maximise the resilience of the RF Smart
Network in rural areas and will be used for the smart metering of
Electricity and District Heating.
District Heating is an environmentally friendly method of
heating homes, schools and commercial premises. Instead of every
premises having its own heating system, heat is produced within the
neighbourhood from a centrally located plant, with heat being
transmitted to individual premises by a piped fluid. The central
plant uses environmentally friendly technology to generate heat and
power from many different fuels, including domestic and industrial
waste.
Björn Lindblom, CyanConnode Chief Commercial Officer, commented:
"I am pleased to announce this follow-on order, which validates HM
Power's confidence and commitment to Omnimesh RF Smart Mesh
Networks. The smart metering of District Heating further
demonstrates the versatility of the Omnimesh platform."
- Ends -
Enquiries:
CyanConnode Holdings plc
John Cronin, Executive Chairman Tel: +44 (0) 1223 225 060
Yellow Jersey PR (Financial PR) Tel: +44 (0) 20 3004 9512
Felicity Winkles / Sarah Hollins/ Annabel Atkins
cyanconnode@yellowjerseypr.com
Arden Partners plc (Joint Broker)
Paul Shackleton / Dan Gee-Summons (Corporate Finance) Tel: +44 (0) 20 7614 5900
Simon Johnson (Corporate Broking)
About CyanConnode
CyanConnode is a world leader in Narrowband Radio Frequency (RF)
Smart Mesh Networks that facilitate machine to machine (M2M)
communication. CyanConnode's innovative network technology, which
is self-forming and self-healing, uses the Licence Free Industrial,
Scientific and Medical Radio Band which is optimised to give
exceptional performance and competitive total cost of
ownership.
Through global partnerships, CyanConnode provides customers with
solutions for the rapid deployment of build-as-you-go Narrowband RF
Smart Mesh Networks, that provide reliable and secure citywide or
countrywide M2M communication.
For more information, please visit www.cyanconnode.com
About HM Power
HM Power thoroughly understands the problems and needs of the
electric power distributors and finds attractive solutions for
them. Successful implementation of solutions has been in areas such
as data collection, sensors, switchgear and automation. HM Power
cooperates through partners to accomplish more, do it faster and
more cost effectively.
The Company secured a substantial share of the Swedish market
when legislation made all electric utilities invest in Automatic
Meter Reading ten years ago. A special remote operable load switch
was developed to meet the requirements of disconnection of clients.
Today the efforts are concentrated to meet new requirements and
opportunities.
For improvement of medium voltage cable network, a
"self-healing" system has been developed including a new type of
medium voltage switchgear as well as advanced fault indicators. Now
also overhead lines are being covered by the new solution. Progress
is made in the Nordic countries and on China market.
HM Power also combines internal skills of power distribution,
communication, metering with experience of system business and
implementation to provide equipment and systems infrastructure for
charging Electric Vehicles.
For more information, please visit http://www.hmpower.se/eng
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
MSCVKLFLKZFXBBD
(END) Dow Jones Newswires
April 30, 2019 02:00 ET (06:00 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