Share Name Share Symbol Market Type Share ISIN Share Description
Cyanconnode Holdings Plc LSE:CYAN London Ordinary Share GB00BF93WP34 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 2.0% 2.55 2.40 2.70 2.55 2.25 2.50 1,531,296 09:23:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 4.5 -6.3 -4.3 - 5

CyanConnode Holdings PLC CyanConnode signs MoU with Hexing

05/08/2019 7:00am

RNS Non-Regulatory


TIDMCYAN

CyanConnode Holdings PLC

05 August 2019

5 August 2019

CyanConnode Holdings plc

("CyanConnode" or the "Company")

CyanConnode signs MoU with Hexing

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with Hexing Electrical Co. Ltd (Hexing).

Hexing, established in 1992, is a multi-national manufacturing company that supplies Utilities in more than 80 countries across the world, with headquarters in Hangzhou, China.

CyanConnode and Hexing have agreed to collaborate and deliver smart metering solutions in certain territories. As part of the collaboration, Hexing will integrate CyanConnode's RF Modules with its meters and CyanConnode's Omnimesh Advanced Metering Infrastructure (AMI) platform with Hexing's Meter Data Management System (MDMS), to create a cost-effective turnkey solution.

Bjorn Lindblom, Chief Commercial Officer, CyanConnode, commented:

"I am very pleased to announce that CyanConnode will be working with Hexing, who have a wealth of experience in delivering solutions to Utilities in more than 80 countries around the world.

"The Memorandum of Understanding will expand CyanConnode's geographical reach and introduce its products and services to new customers."

Fan Jianqing, GM of International Trade Department, Hexing, commented: "As a leading provider of advanced metering infrastructure, we are pleased to offer CyanConnode's IPv6-based Omnimesh solution as part of Hexing's portfolio. CyanConnode's RF Mesh technology provides a cost-effective, scalable communication network that can be integrated and deployed with ease."

In a recent report from MarketsandMarkets, revenue in the global smart meters market is expected to grow from $12.79 billion in 2017 to $19.98 billion by 2022, with Asia-Pacific estimated to be the fastest growing market*.

*https://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html

- Ends -

Enquiries:

 
 CyanConnode Holdings plc                        Tel: +44 (0) 1223 225 
  John Cronin, Executive Chairman                 060 
                                                  www.cyanconnode.com 
 Yellow Jersey PR (Financial PR)                 Tel: +44 (0) 20 3004 
  Felicity Winkles / Sarah Hollins/               9512 
  Annabel Atkins                                  cyanconnode@yellowjerseypr.com 
 Arden Partners plc (Broker and Nomad)           Tel: +44 (0) 20 7614 
  Paul Shackleton / Dan Gee-Summons (Corporate    5900 
  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

About Hexing

Hexing, established in 1992, is a multi-national company offering a variety of electrical equipment and relevant solutions to global power utilities.

With more than two decades of industry experience, Hexing is dedicated to developing a customised, sustainable ecosystem for energy distribution companies including micro-grid with renewable energy, distribution automation and smart meter to cash collection resulting in effective revenue protection.

Today, more than 80 countries around the world are utilising Hexing products and solutions for a better tomorrow.

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 rns@lseg.com or visit www.rns.com.

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