CyanConnode Holdings PLC New order from L&T (3672V)

TIDMCYAN

RNS Number : 3672V

CyanConnode Holdings PLC

23 July 2018

CyanConnode Holdings plc

("CyanConnode" or the "Company")

New order from L&T for a further 10,000 smart metering units for India

CyanConnode, the world leader in narrowband radio mesh networks, announces receipt of a purchase order from Larsen & Toubro (L&T) for its Optimal technology for 10,000 smart metering units in India.

As one of the largest meter manufacturers to the Indian utility sector, L&T is already providing smart meters, enabled by CyanConnode's Advanced Metering Infrastructure ("AMI") technology. In May, CyanConnode announced receipt of a 5,000 units order. This new order brings the total units of CyanConnode's Optimal solution ordered by L&T to 41,735 to date.

CyanConnode will provide communications hardware, perpetual software licenses and an annual maintenance contract for the implementation of its narrowband RF mesh AMI solution for these 10,000 smart meters. The smart meters will be deployed over the next two months with initial deliveries of CyanConnode's hardware commencing in August 2018.

During May, CyanConnode also announced receipt of its largest order to date from L&T, a $3.2m order for its new Omnimesh standards-based, smart metering solution.

John Cronin, CyanConnode Executive Chairman, commented: "We are pleased to announce a further order from L&T for a further 10,000 units of Optimal. L&T is one of the longest-standing partners of our global partner eco-system. Through collaboration, our proven technology and L&T's reliable metering equipment is continuing to build momentum in the Indian smart metering market."

Enquiries:

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

About CyanConnode

CyanConnode is a world leader in the design and development of 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 with reduced total cost of ownership and Omnimesh delivers standards-based IPv6 solutions, enabling rapid innovation for the implementation of third party applications. Through global partnerships, 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.

About Larsen & Toubro

Larsen & Toubro is a USD 15 billion technology, engineering, construction, projects, manufacturing and financial services conglomerate, with global operations.

The company is engaged in core, high-impact sectors - infrastructure, construction, defence, hydrocarbon, heavy engineering, power, aerospace, shipbuilding, electrical & automation, mining and metallurgy. Its integrated capabilities span the entire spectrum of 'design-to-deliver', and it offers turnkey EPC solutions in its major business lines. Its track record covers products, projects and processes executed to international benchmarks.

Electrical & Automation is a major business portfolio of Larsen & Toubro. The business basket of Electrical & Automation (E&A) contains low and medium voltage switchgear products, electrical systems, energy meters and automation solutions. Its products and solutions cater to industry, utility, building & home, infrastructure and agriculture segments.

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

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July 23, 2018 02:00 ET (06:00 GMT)