LONDON, UK: CyanConnode Holdings, a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, announced that it has received a contract for a smart metering deployment in Africa.
CyanConnode will supply 100,000 Omnimesh Modules together with Advanced Metering Infrastructure, Services, Omnimesh Head-End Software, Perpetual License and an Annual Maintenance Contract.
The supply of Omnimesh Modules is expected to commence within Q3 2021, with all Modules being supplied within eighteen months. Approximately 90% of revenue will be recognised during the first two years of the contract with the balance being received during the Annual Maintenance Contract, which commences following the ‘Go Live’ phase.
John Cronin, Executive Chairman, commented: “We are delighted to have received this contract from a new customer in a new territory, which is once again testament to CyanConnode’s technology. We look forward to working with this new customer to develop our business in Africa.”
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.
Cyanconnode Holdings PLC share price
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4 Aug, 8:34 am GMT+1 ·Disclaimer