TIDMCYAN
CyanConnode Holdings PLC
15 November 2023
15 November 2023
CyanConnode Holdings plc
("CyanConnode" or the "Company")
CyanConnode Ranked 2(nd) Fastest-Growing UK Company in India
CyanConnode Holdings plc (AIM: CYAN), a global leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce that its Indian subsidiary, CyanConnode Pvt Ltd, has been
recognised as the second fastest-growing UK company in India,
according to the prestigious Britain Meets India (BMI) 2023
report.
The BMI 2023 report, a collaborative effort by Grant Thornton
Bharat, the Confederation of Indian Industry (CII), and supported
by the UK government's Department for Business and Trade (DBT),
identifies and ranks the fastest-growing UK businesses based on
their operational growth and employment contribution in India.
Key Highlights of the BMI 2023 Report:
-- CyanConnode Pvt Ltd has been ranked as the second fastest-growing UK company in India.
-- The report analysed 635 UK-owned or controlled companies in India.
-- Companies featured in the report have shown an annual
turnover of more than INR 500 million and at least 10% year-on-year
revenue growth.
-- The collective turnover of these companies is approximately
INR 4,888.4 billion (GBP51 billion), employing around 666,992
people.
-- The UK-India bilateral trade relationship is valued at over
GBP35 billion, with the UK being a significant investor in
India.
CyanConnode Pvt Ltd specialises in Smart Internet of Things
(IoT) communication solutions for Advanced Metering Infrastructure
(AMI) in India, particularly in the design and development of
Narrowband RF mesh networks that support Omni IoT communications.
The company's innovative approach to smart metering communications
infrastructure has led to the installation of over 1.5 million RF
nodes across India, significantly enhancing service delivery,
business efficiency, energy savings, and carbon emission reduction
for its customers.
John Cronin, Executive Chairman of CyanConnode, commented :
"We are honoured to be recognised by the BMI 2023 report as one
of the fastest growing UK companies in India. This accolade is a
testament to our team's hard work and the strong relationships we
have built with our customers in India. We remain committed to
delivering innovative solutions that contribute to the smart
infrastructure of the future."
For more details on the BMI 2023 report and CyanConnode's
operations, investors and interested parties can refer to the full
report -
https://www.grantthornton.in/en/insights/articles/britain-meets-india-report-2023/
The company looks forward to continuing its growth trajectory in
India and contributing to the strengthening of UK-India trade and
investment ties.
Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 865 750
John Cronin, Executive Chairman www.cyanconnode.com
Strand Hanson Limited (Nominated and Financial Adviser) Tel: +44 (0) 20 7409 3494
James Harris, Richard Johnson, David Asquith
Zeus Capital Limited (Broker) Tel: +44 (0) 20 3829 5000
Simon Johnson, Alexandra Campbell-Harris
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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