RNS Number : 1329E
Cyan Holdings Plc
14 July 2016
Cyan Holdings plc
("CyanConnode" or the "Company")
New strategic partnership agreement signed with Enzen
CyanConnode expands its reach with new partner in Ireland
CyanConnode (AIM:CYAN.L), the world leader in narrowband RF mesh networks for Omni Internet
of Things communications, announces that it has signed a strategic partnership agreement with Enzen Global Ltd
("Enzen").
CyanConnode and Enzen have agreed to collaborate to deliver expertise in narrowband mesh
technology to the Internet of Things ("IoT") market in Ireland. This agreement will provide combined value to support Smart
Energy, Smart Cities and IoT in the Irish market. CyanConnode's communication platform will enable Enzen to deliver Metering as a
Service ("MaaS"), offering utilities an outsourced smart metering solution and reduced costs. CyanConnode will provide hardware
and its Head End Software (on a recurring revenue basis) and Enzen will provide system integration to deliver this MaaS
model.
In 2015, CyanConnode announced two purchase orders from Enzen in India, for Chamundeshwari Electricity Supply
Corporation Limited ("CESC") in Mysore, Karnataka and Pashimanchal Vidyut Vitran Nigam Limited ("PVVNL") in Utter Pradesh. For
both contracts, worth c£1.5 million in total, CyanConnode is acting as Enzen's end-to-end solution provider for smart
metering.
The Commission for Energy Regulation ("CER") is operating a National Smart Metering Programme ("NSMP") with a
target to install 80% of the required smart meters in the Republic of Ireland by 2020. The Irish utility, ESB Networks, has
issued a contract notice to deliver 2.2 million smart meters in the Republic of Ireland. Enzen will submit a bid based on
CyanConnode's Ultimesh™ narrowband mesh solution for the ESB Networks
tender, of which the communications Request For Proposal is expected in Q3 2016.
John Cronin, Executive Chairman of CyanConnode, commented: "We are
delighted to be working with Enzen in Ireland, a partnership built on our successful relationship with Enzen in India.
CyanConnode has established an eco-system of partners in each target market and it is now starting to build partnerships that are
global, which will support our expansion into new markets."
Vijay Dwarkanath, Global Head of Energy and Water Networks, Enzen, commented:
"CyanConnode's narrowband technology delivers exceptional performance which is proven by successful deployments
through our partnership in India. CyanConnode's communication platform will enable Enzen to deliver Metering as a Service,
providing an outsourced end-to-end smart metering process."
* http://ted.europa.eu/udl?uri=TED:NOTICE:11825-2015:TEXT:EN:HTML
Enquiries:
Cyan Holdings plc
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Tel: +44 (0) 1954 234 400
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John Cronin, Executive Chairman
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www.cyantechnology.com
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Cantor Fitzgerald Europe - Nomad and Broker
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Tel: +44 20 7894 7000
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Andrew Craig / Richard Salmond
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Beaufort Securities Limited - Joint Broker
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Tel: +44 (0) 20 7382 8300
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Jon Belliss
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Walbrook PR - Financial PR
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Tel: +44(0) 20 7933 8780
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Paul Cornelius/Nick Rome
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cyan@walbrookpr.com
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About CyanConnode
CyanConnode is a world leader in narrowband RF mesh networks that enable Omni IoT
communications. Cyan's Ultimesh provides narrowband RF mesh network, optimised for exceptional
performance and total cost of ownership and Connode's Panmesh delivers standards-based IPv6 solutions,
enabling rapid innovation for the implementation of 3rd party applications. The Group 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 Enzen
Enzen Global is an innovative, knowledge-based energy and utility enterprise serving the Gas, Power and Water
sectors. They provide outcome based turnkey solutions, blending industry best practices and leading edge ideas with a continuous
focus on exceeding customers' expectations.
For more information, please visit http://enzenglobal.co.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
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