CyanConnode Holdings PLC New Order for European Utility (3399R)

TIDMCYAN

RNS Number : 3399R

CyanConnode Holdings PLC

14 June 2018

CyanConnode Holdings plc

("CyanConnode" or the "Company")

New order for European utility

CyanConnode, the world leader in narrowband radio mesh networks, announces a purchase order worth EUR184,000 from one of its existing partners, an industry leader in energy management solutions, for a smart metering deployment for a European utility.

The purchase order, which is part of a larger anticipated order expected to be in excess of EUR800,000, is for the supply of CyanConnode's narrowband RF mesh communication modules, which will be integrated with the partner's meters. The order represents further development of an ongoing project for the utility, which totals over 250,000 meters deployed to date.

The CyanConnode-enabled meters deliver 24-hour values every day with two review points, giving a stable performance of 99.75%. The utility benefits include simplified billing based on accurate consumption data and enhanced customer service.

John Cronin, CyanConnode Executive Chairman, commented: "We are pleased to announce this new order from our industry leading partner - further strengthening our relationship, for an ongoing significant project in Europe. This expansion validates the global suitability of CyanConnode's technology that continues to perform at high levels of service. Furthermore, it demonstrates the strength of our partnership and the scope for follow on orders."

Enquiries:

 
 CyanConnode Holdings plc          Tel: [phone] 
                                    225 060 
 John Cronin, Executive Chairman   www.cyanconnode.com 
 
 FinnCap Ltd (Nomad and Broker)    Tel: +44 (0) 20 
                                    7220 0500 
 Adrian Hargrave / Giles Rolls 
  (Corporate Finance) 
  Alice Lane (Corporate Broking) 
 
 Walbrook PR (Financial PR)        Tel: [phone] 
  Paul Cornelius / Nick Rome        8780 
                                    [e-mail] 
 
 

About CyanConnode

CyanConnode is a world leader in narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications. Its innovative solutions use sub GHz frequencies and are optimised for exceptional performance. Optimal solutions provide end-to-end quality of service and total cost of ownership and IPv6 6LoWPAN delivers standards-based IPv6 solutions, enabling rapid innovation for the implementation of 3(rd) party applications. Through its global partner eco-system, CyanConnode provides customers with the flexibility and choice required to converge networks for applications in smart cities and IoT, delivering increased customer value.

For more information, please visit www.cyanconnode.com.

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 [e-mail] or visit www.rns.com.

END

MSCFJMMTMBMBTAP

(END) Dow Jones Newswires

June 14, 2018 02:10 ET (06:10 GMT)