CyanConnode Holdings PLC Update on Rollout of Indian Contract
22 June 2020 - 4:00PM
RNS Non-Regulatory
TIDMCYAN
CyanConnode Holdings PLC
22 June 2020
22 June 2020
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Update on Rollout of Indian Contract
CyanConnode Holdings plc (AIM: CYAN), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce that it has now commenced shipment of Omnimesh RF Modules
for the order that was announced in January 2020. The customer,
Genus Power Infrastructures Limited ("Genus"), can now commence
volume production of Omnimesh enabled smart meters for the end
customer, a Utility located in South India.
The first shipment of 10,000 Omnimesh RF Modules was made to
Genus in June 2020, with advanced payment for those modules
facilitated by a Letter of Credit, provided by Genus.
As a result of Covid-19 there have been some minor delays to the
commencement of field installation works, however significant
progress has been made on software and integration scope of
works.
Anil Daulani, CyanConnode India CEO and MD, commented:
"There has been a good start towards providing the Omnimesh
Network Canopy, which will provide a hybrid RF Smart Mesh and
Cellular communication network, that is licensed for up to 200,000
Omnimesh enabled smart meters.
"India is still seeing an increase of Covid-19 cases, and I wish
to express my sympathies to families who have been affected.
Nonetheless, I remain optimistic and look forward to giving further
updates relating to new orders in due course."
- 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
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END
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