CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce a follow-on order for the Metropolitan Electricity Authority (MEA) in Thailand. The follow-on order is for an additional 206,735 Omnimesh perpetual software licenses and relates to the Thailand order announced on 30 December 2019.
CyanConnode secures Omnimesh follow-on order for smart metering in Thailand
MEA is a Thailand state-owned energy utility group serving around 4 million customers in the city of Bangkok and two adjacent provinces. MEA is deploying a Smart Metro Grid platform to improve power availability and reliability, as well as to analyse distribution losses, automate meter reading, and increase customer satisfaction.
The follow-on order was placed by Forth Corporation Public Company Limited (Forth), with The JST Group (JST) acting as CyanConnode's Agent, and it increases the total value of orders received for MEA to more than $3 million. Under the contract, a payment of approximately $206,000 is due at the time of order.
The additional Omnimesh software licenses will allow MEA to connect up to 240,000 smart meters to the Omnimesh Head End Server (HES), which will serve the Thailand Smart Metro Grid project. The order also includes an Annual Maintenance Contract for the maintenance of the HES, providing a further recurring revenue stream over an initial five-year period.
Delivery of the Omnimesh RF Modules ordered in December 2019, which are being integrated into Forth's meters, will commence in May 2020. The RF Modules will use the narrow band frequencies of 442 MMHz and 447MMHz, which have been allocated to Utilities by The National Broadcasting and Telecommunications Commission (NBTC) of Thailand and the required NBTC certifications are progressing as expected.
John Cronin, CyanConnode Executive Chairman, commented: "We are delighted to receive this follow-on order so soon after the initial order was placed in December 2019.
"CyanConnode's Omnimesh products met all evaluation criteria and outperformed competitor solutions and this follow-on order demonstrates the suitability of Omnimesh for the global smart metering market.
"We look forward to continuing to work with JST and Forth to deliver our Omnimesh products throughout Thailand."
John Stamp, JST Group CEO, commented: "We are pleased to see this follow-on order for additional software licenses for this project. This demonstrates the value-added benefits expected by MEA and the suitability of CyanConnode's Omnimesh technology to the Smart Metro Grid project."
Mr Pattanan Amatanon, Forth COO, commented: "As a leading provider of electricity meters and system integration, we are pleased to deliver CyanConnode's Omnimesh solution to MEA. The ease of integration and deployment of the technology, as well as CyanConnode's expertise in managing data communication across narrowband networks, were key considerations when selecting an AMI solution partner for this bid."
CyanConnode is a global leader in Internet of Things (IoT) communications.