CyanConnode wins $1.1 million smart metering contract from India

This is the Company’s first contract award from its new partner, Genus, a tier one meter provider with the largest installed base in India and supplier to multiple utilities.

The purchase order is for a smart metering implementation of over 23,000 units, to be deployed over the next 18 months, for UGVCL customers in Naroda, a suburban town in the fast-growing areas of Ahmedabad. UGVCL operates in the northern parts of Gujarat and serves a consumer base of more than three million, providing substantial scope for follow on orders in the future.

This is the first order from India for CyanConnode’s IPv6-6LoWPAN based Advanced Metering Infrastructure (AMI) solution for volume commercial deployment, highlighting the benefits of the Company’s range of solutions while further expanding its product footprint within the region.  The IPv6-based technology was developed by Connode AB in Sweden, prior to the Company’s acquisition, which was completed in July last year. The IPv6-based solution will enable CyanConnode's first IoT communication network, supporting the connectivity of smart city and IoT applications through one network in the future. CyanConnode's future-proof technology will allow the utility to leverage the initial investment in a smart metering solution to build out smart city services at minimal cost.

CyanConnode will supply its standards-based hardware, services and head end software licenses to Genus. The software will be charged on a per meter per year basis with an annual maintenance contract, delivering a recurring revenue stream over the initial four-year contract term.  As the prime contractor to UGVCL, Genus will integrate CyanConnode’s narrowband RF mesh technology with its IS 6444 (Bureau of Indian Standards meter protocol) meters to supply the first CyanConnode IPv6-enabled smart meter. Genus will also provide system integration and project management to UGVCL.

JK Agarwal, Joint MD Genus Power, commented: “As a leading “Made in India” meter manufacturer, with the largest installed base of meters in India, it is imperative that Genus provides a range of highly innovative and sustainable solutions smart energy metering products for utilities and customers. The implementation of CyanConnode’s world class communication solution, based on IPv6 narrowband RF mesh network, will meet the technical requirements for AMI in India. CyanConnode’s robust networks are proven by its customer deployments globally and Genus looks forward to working with CyanConnode on this and other projects in India. By joining hands with such proven players, we are committed to make Smart Cities and Smart Grid possible in India.”

John Cronin, CyanConnode Executive Chairman, commented: “We are pleased to receive this order for an IPv6-based smart metering solution from a new meter manufacturer partner in India, Genus. The acquisition of Connode last year has ensured that we are well-positioned to meet the evolving needs of the Indian market in terms of specific functions such as IPv6-based smart metering solutions. IP-based narrowband mesh solutions allow greater flexibility and rapid innovation, allowing customers to leverage investment in single-application platforms to build out smart city and Internet of Things services. We are very excited by the growing number of opportunities provided by our standards-based offering and look forward to winning more new orders as the global demand for these solutions grows.”


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Enquiries:
CyanConnode Holdings plc
Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman

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Tel: +44 (0) 20 7220 0500
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Alice Lane (Corporate Broking)
    
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cyanconnode@walbrookpr.com

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