CyanConnode Holdings PLC Two Million Communication Endpoints Deployed

RNS Number : 8142Z

CyanConnode Holdings PLC

09 August 2024

 

9 August 2024

CyanConnode Holdings plc 

("CyanConnode" or the "Company") 

 

Two Million Communication Endpoints Deployed in India

CyanConnode Holdings plc (LSE: CYAN), a global leader in narrowband radio frequency ("RF") smart mesh networks, is pleased to announce two significant milestones achieved by its Indian subsidiary, CyanConnode Pvt Ltd ("CyanConnode India"). Firstly, the successful deployment of over two million nodes, making it the first and only smart metering communications player in India to reach this milestone, and the prestigious SKOCH Gold Award win by Tamil Nadu Generation and Distribution Corporation Limited ("Tangedco") for its smart metering project powered by CyanConnode's communication network.

First and Only Communications Player to Deploy Two Million Communication Endpoints in India

CyanConnode India has become the first and only smart metering communications player in India to deploy over two million communication endpoints while successfully delivering required Service Level Agreements. This remarkable achievement showcases CyanConnode India's extensive reach and experience across the country, with deployments in ten states: Assam, Rajasthan, Himachal Pradesh, Madhya Pradesh, Gujarat, Tamil Nadu, Bihar, Maharashtra, Karnataka, and Andhra Pradesh. This milestone underscores CyanConnode's commitment to providing reliable and scalable smart metering solutions, contributing to India's energy management and digital transformation goals.

Tangedco Wins Prestigious SKOCH Award

In addition, the distribution company, Tangedco, has won the prestigious SKOCH Award for Gold Category in the Power & Energy category. The award recognises the digital transformation of Tangedco's commercial operations under the smart metering project powered by CyanConnode's communication network.

The project has delivered exceptional billing and smart metering communication rates of over 99%, accelerating invoicing, reducing errors, and enhancing customer satisfaction through timely billing. It has also optimised operations, reduced carbon emissions, increased revenue, and optimised manpower, among many other benefits.

John Cronin, Executive Chairman of CyanConnode, commented:

"We are immensely proud of these achievements. Reaching the milestone of two million deployed communication endpoints is a testament to the reliability of our technology and the hard work and dedication of our team in India. Tangedco's SKOCH Award win highlights the significant impact of our technology on improving operational efficiency and customer satisfaction. These accomplishments reinforce our position as a leader in smart metering solutions and our commitment to supporting India's energy management initiatives."

For more details on the SKOCH Award and to watch the award video and presentation, please visit here: https://ratings.skoch.in/2024/07/28/tangedco-tamilnadu-generation-and-distribution-corporation-limited/

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Enquiries:

 

CyanConnode Holdings plc                                                                         Tel: [phone]

John Cronin, Executive Chairman                                                              www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser)         Tel: [phone]

James Harris / Richard Johnson / David Asquith

 

Zeus Capital Limited (Joint Broker)                                                         Tel: [phone]

Simon Johnson / Louisa Waddell

 

Panmure Gordon (UK) Limited (Joint Broker)                                     Tel: [phone]

Rupert Dearden / Freddy Crossley

 

 

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.

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