22 May 2024
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Empanelment of CyanConnode India Subsidiary as an
AMISP
CyanConnode Holdings plc (LSE:
CYAN), a global leader in narrowband radio frequency (RF) smart
mesh networks, is pleased to announce that the wholly owned
subsidiary of its Indian entity, Digismart Networks Private Limited
(Digismart), has qualified and been certified to participate in the
upcoming smart metering tenders as an Advanced Metering
Infrastructure Service Provider (AMISP).
Following a rigorous testing
process, Digismart has successfully demonstrated an end-to-end
Advanced Metering Infrastructure (AMI) prepaid solution on its
Omnimesh RF network. The certification, valid until 13 May 2026,
was issued by REC Ltd. (a Public Sector Undertaking under Ministry
of Power, Govt. of India) in recognition of Digismart's adherence
to the specifications outlined in the Request for Empanelment. This
certification enables Digismart to bid directly as an AMISP under
the Revamped Distribution Sector Scheme (RDSS) for smart prepaid
metering in India on a Design, Build, Finance, Own, Operate, and
Transfer (DBFOOT) basis.
This certification provides a
strategic boost to CyanConnode in India, which is steadily
increasing its footprint as the nationwide rollout of smart meters
continues to gain momentum. CyanConnode's current order book stands
at 6.6 million units, of which 3 million have already been
dispatched. Through Digismart, the Company would be responsible for
the end-to-end execution of smart metering projects, from meter
supply to Meter Data Management (MDM).
This empanelment allows Digismart to
engage directly in significant projects, further integrating
CyanConnode's advanced RF technology into critical infrastructure
projects across India.
John Cronin, Executive Chairman of
CyanConnode, commented:
"The AMISP certification for
Digismart is significant for CyanConnode as it puts us at the
forefront of India's rapidly evolving smart metering landscape.
Having been active in India for 15 years, and executing our first
project a decade ago, we understand this country exceptionally well
and are ideally placed to execute projects and meet the vision and
standards set by the Government. We are now well-positioned to
contribute to the modernization of India's energy management
systems and further strengthen our presence in the
market."
Ends-
Enquiries:
CyanConnode Holdings
plc
Tel:
+44 (0) 1223 865 750
John Cronin, Executive Chairman
www.cyanconnode.com
Strand Hanson Limited (Nominated and Financial Adviser)
Tel: +44 (0) 20
7409 3494
James Harris / Richard Johnson /
David Asquith
Zeus
Capital Limited (Joint
Broker)
Tel: +44 (0) 20 3829 5900
Simon Johnson / Louisa
Waddell
Panmure Gordon (UK) Limited (Joint
Broker)
Tel: +44 (0) 20 7886 2500
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.