CyanConnode Holdings plc (AIM: CYAN) is pleased to announce that its subsidiary, CyanConnode India Pvt Ltd, has received its largest-ever order.
The order, placed by Genus Power Infrastructures Limited (“Genus”), is for one million Omnimesh Modules, together with Advanced Metering Infrastructure, Standards-Based Hardware, Omnimesh Head-End Software, Perpetual License and a Support and Maintenance Contract.
The order relates to a smart metering deployment in Bihar and supply of Omnimesh Modules is expected to commence during September 2022, with installation being completed within two years. The Support and Maintenance Contract is for a period of eight years and will commence upon completion of the installation phase.
John Cronin, Executive Chairman of CyanConnode, commented :
“We are delighted to have received this order from our long-standing partner Genus, which cements our position as the largest provider of Narrowband Radio Frequency (RF) Smart Mesh Networks for Smart Metering in India. This single order will almost double the number of modules we have deployed in India to date.
India is at the beginning of its government’s mandated deployment of 250 million smart meters and CyanConnode is pursuing current tenders for the deployment of over 27.5m smart meters. The Company also expects the number of tenders that it is actively pursuing to grow further during the coming months. Your Board remains determined to take full advantage of CyanConnode’s superior RF technology and to capitalise upon its opportunities in India.”
Mr. Jitendra Kumar Agarwal, Joint MD of Genus, commented :
“We are very pleased to once again be partnering with CyanConnode. Both companies have already worked closely together and successfully deployed four projects, resulting in the rollout of over 600k Smart Meters. I believe our joint capability and track records will result in further opportunities for both our companies in the near future.”
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CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.cyanconnode.com
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