CyanConnode Holdings PLC Follow-on order for Swedish utility (4722X)

TIDMCYAN

RNS Number : 4722X

CyanConnode Holdings PLC

30 April 2019

30 April 2019

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Follow-on order for Swedish utility

CyanConnode Holdings plc, (AIM:CYAN), a global leader in IoT smart communications technology utilising narrowband Radio Frequency (RF) for smart city solutions, is pleased to announce that it has received a follow-on order from HM Power, for a smart metering implementation for a Swedish utility, worth SEK 8.6 million (GBP700k). Deliveries for this order are expected to commence in Q3 2019 and will continue into future periods. The final roll-out schedule is still being agreed with the customer.

The follow-on order, which relates to the order announced on 16 July 2018, was received following the successful completion of a smart metering pilot in Q3 2018, and leverages the functionality of Omnimesh. CyanConnode's solution provides long-range RF communications, which will maximise the resilience of the RF Smart Network in rural areas and will be used for the smart metering of Electricity and District Heating.

District Heating is an environmentally friendly method of heating homes, schools and commercial premises. Instead of every premises having its own heating system, heat is produced within the neighbourhood from a centrally located plant, with heat being transmitted to individual premises by a piped fluid. The central plant uses environmentally friendly technology to generate heat and power from many different fuels, including domestic and industrial waste.

Björn Lindblom, CyanConnode Chief Commercial Officer, commented: "I am pleased to announce this follow-on order, which validates HM Power's confidence and commitment to Omnimesh RF Smart Mesh Networks. The smart metering of District Heating further demonstrates the versatility of the Omnimesh platform."

- Ends -

Enquiries:

CyanConnode Holdings plc

John Cronin, Executive Chairman Tel: [phone]

Yellow Jersey PR (Financial PR) Tel: [phone]

Felicity Winkles / Sarah Hollins/ Annabel Atkins [e-mail]

Arden Partners plc (Joint Broker)

   Paul Shackleton / Dan Gee-Summons (Corporate Finance)            Tel: [phone] 

Simon Johnson (Corporate Broking)

About CyanConnode

CyanConnode is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks that facilitate machine to machine (M2M) communication. CyanConnode's innovative network technology, which is self-forming and self-healing, uses the Licence Free Industrial, Scientific and Medical Radio Band which is optimised to give exceptional performance and competitive total cost of ownership.

Through global partnerships, CyanConnode provides customers with solutions for the rapid deployment of build-as-you-go Narrowband RF Smart Mesh Networks, that provide reliable and secure citywide or countrywide M2M communication.

For more information, please visit www.cyanconnode.com

About HM Power

HM Power thoroughly understands the problems and needs of the electric power distributors and finds attractive solutions for them. Successful implementation of solutions has been in areas such as data collection, sensors, switchgear and automation. HM Power cooperates through partners to accomplish more, do it faster and more cost effectively.

The Company secured a substantial share of the Swedish market when legislation made all electric utilities invest in Automatic Meter Reading ten years ago. A special remote operable load switch was developed to meet the requirements of disconnection of clients. Today the efforts are concentrated to meet new requirements and opportunities.

For improvement of medium voltage cable network, a "self-healing" system has been developed including a new type of medium voltage switchgear as well as advanced fault indicators. Now also overhead lines are being covered by the new solution. Progress is made in the Nordic countries and on China market.

HM Power also combines internal skills of power distribution, communication, metering with experience of system business and implementation to provide equipment and systems infrastructure for charging Electric Vehicles.

For more information, please visit http://www.hmpower.se/eng

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April 30, 2019 02:00 ET (06:00 GMT)