TIDMCYAN
RNS Number : 1789Y
CyanConnode Holdings PLC
30 December 2019
30 December 2019
CyanConnode Holdings plc
("CyanConnode" or the "Company")
New Order for Smart Metering Solution in Thailand
CyanConnode Holdings plc (AIM: CYAN), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce an order in Thailand, a new territory, for 33,000 units
from its Distributor and Technology Partner, The JST Group (JST).
The end customer is Metropolitan Electricity Authority (MEA), a
Thai state enterprise under the Ministry of Interior.
The Company has worked closely with JST and its partner Forth
Corporation Public Company Limited (Forth), a telecommunication and
electronics company that provides products and integration services
in Thailand.
The purchase order relates to a smart metering deployment which
includes CyanConnode's IPV6 Standards-Based Omnimesh Advanced
Metering Infrastructure (AMI). Under the agreement CyanConnode will
supply its hardware, head end system (HES) and an Annual
Maintenance Contract (AMC). Hardware deliveries will commence in
2020, with deliverables for the integrated system commencing
immediately. The AMC will deliver a recurring revenue stream over
an initial five-year period. As part of the contract, CyanConnode
will receive an upfront payment at the time of order of around $0.4
million, which is approximately 25% of the contract value. On
successful deployment the 33,000 units is expected to extend to a
further 200,000 units. A kick-off meeting will be held in
mid-January at which the full roll out plan will be agreed.
MEA, a state-owned energy utility group serving around 4 million
customers in the city of Bangkok and two adjacent provinces, is
deploying a Smart Metro Grid platform to improve power availability
and reliability, as well as to analyse distribution losses,
automate meter reading, and increase customer satisfaction.
CyanConnode will deploy its Omnimesh technology, which has been
integrated into Forth's electricity meters and Oracle's meter data
management solution, using the frequency bands of 442 and 447MMHz,
allocated to the Thai energy utilities by The National Broadcasting
and Telecommunications Commission (NBTC) of Thailand.
John Cronin, CyanConnode Executive Chairman, commented:
"We are delighted to be part of the consortium contracted to
implement a smart metering deployment for MEA in Thailand.
CyanConnode's Omnimesh solution met all evaluation criteria and
outperformed competitor solutions. This success demonstrates the
suitability of Omnimesh for the global smart metering market.
We look forward to working with JST and Forth to deliver our
Omnimesh Advanced Metering Infrastructure platform in
Thailand."
John Stamp, JST Group CEO, commented:
"We are looking forward to working with our partners on this
deployment which is the first in Thailand for our group of
partners. The collaboration will deliver value-added benefits to
MEA and the broader energy market in Thailand, offering new and
innovative solutions that enable energy security and
sustainability."
Mr. Pongchai Amatanon, Managing Director, Forth, commented:
"As a leading provider of electricity meters and system
integration, we are pleased to deliver CyanConnode's Omnimesh
solution to MEA. The ease of integration and deployment of the
technology, as well as CyanConnode's expertise in managing data
communication across narrowband networks, were key considerations
when selecting an AMI solution partner for this bid."
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.cyanconnode.com
Yellow Jersey PR (Financial PR) Tel: +44 (0) 20 3004 9512
Sarah Hollins/ Annabel Atkins cyanconnode@yellowjerseypr.com
Arden Partners plc (Joint Broker) Tel: +44 (0) 20 7614 5900
Paul Shackleton / Dan Gee-Summons (Corporate Finance)
Simon Johnson (Corporate Broking)
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 The JST Group
The JST Group is an independent group of wholly owned Thai
service and supply companies, with over 40 years' experience in
Thailand and South East Asia. JST has developed a flexible
organization structure to provide locally-based and managed
specialist services to meet emerging customer requirements.
For more information, please visit http://www.jst-group.com/
About Forth Corporation Public Company Limited
Forth Corporation Public Company Limited (FORTH) was established
in 1989 and has registered capital amounting to Baht 1 million. The
Company was established to research, develop and manufacture
Private Branch Exchange (PBX) under the trademark of FORTH, Printed
Circuit Board Assembly (PCBA) and electronic equipment
manufacturing.
The Company increased capital and expanded into related-business
e.g. telecommunication equipment manufacturing and distribution and
digital electronic meter manufacturing, etc. In 2006, the Company
was listed on the Stock Exchange of Thailand in 2006 and became the
public company named Forth Corporation Public Company Limited.
For more information, please visit
https://www.forth.co.th/en/
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END
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