RNS Number : 5081D
Cyan Holdings Plc
17 May 2012
Cyan Holdings plc
("Cyan" or the "Company")
Substantial Metering Order in India
-- Cyan receives purchase order exceeding US$1M for CyLec(R) products
-- Order will fulfil initial stages of a number of projects with several utilities
Cyan Holdings plc (AIM:CYAN.L), the integrated system design company delivering wireless solutions for lighting control and utility metering, announces an order exceeding US$1M, from a major metering customer in India.
Cyan has previously worked closely with this customer, in conjunction with several of its System Integrator (SI) partners in India, to provide an interoperable solution capable of Advanced Metering Reading (AMR) and Automated Metering Infrastructure (AMI). The integration of Cyan's CyLec products is now complete and the customer has placed an order to fulfil several projects during the second half of 2012, across a range of utilities. These projects will embrace some key features for the Indian utility metering market, such as tamper detection and remote disconnect.
Bijan Mohandes, VP Worldwide Sales & Marketing commented, "This significant order marks an important step in the adoption of CyLec as a standard for smart electricity metering across India; Cyan has established key strategic partnerships with meter manufacturers, SI partners and utility providers in the country. This has resulted in these various parties promoting Cyan solutions due to the equipment's ability to be easily integrated and provide continuous revenue streams via licensing."
John Cronin, Non-Executive Director*, added "I am delighted to see this substantial purchase order from an Indian metering customer being received at Cyan. The order will be transformational in terms of market and customer perception of Cyan and marks a clear turning point in the Company's history. I look forward to providing the market with further positive news after I take over as Executive Chairman."
*John Cronin is currently a Non-Executive Director and will take over the role of Executive Chairman from John Read at the Annual General Meeting later today. http://www.cyantechnology-ir.com/html/investors/agm.asp
Cyan Holdings plc www.cyantechnology.com
John Cronin, Non-Executive Director* Tel: +44 (0) 1954 234 400
Cenkos Securities plc
NOMAD and Joint Broker
Stephen Keys / Adrian Hargrave Tel: +44 (0) 20 7397 8900
XCAP Securities plc
Jon Belliss / Adrian Kirk Tel: +44 (0) 20 7101 7070
Caroline Evans-Jones / Guy McDougall Tel: +44(0) 20 7653 9850
About Cyan Cyan is an integrated system design and software company delivering mesh based flexible wireless solutions for utility metering and lighting control. The Company has been listed on London's Alternative Investment Market (AIM) since 2005. Cyan's headquarters are in Swavesey, Cambridge, UK. For more information, please visit www.cyantechnology.com.
Cyan's CyLec technology provides a complete control and communication network including user interface. CyLec offers point-to-point and mesh network solutions for metering applications. CyLec is a trademark of Cyan Technology Ltd.
Cyan's CyLux technology provides a complete control and communications network including user interface. CyLux is a control system allowing lighting manufacturers to build and sell RF controlled street and tunnel lighting. CyLux is a trademark of Cyan Technology Ltd.
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