REG - CyanConnode Holdings - Empanelment of CYAN India Subsidiary as an AMISP

Cyanconnode HoldingsAnnouncement

22/05/2024 07:00

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RNS Number : 3725P  CyanConnode Holdings PLC  22 May 2024

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.

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