Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
CyanConnode Holdings PLC on Tuesday said it has received an order for 300,000 Omnimesh modules from IntelliSmart Infrastructure Private Ltd.
CyanConnode is a Cambridge, England-based narrowband radio frequency mesh networks provider. Its shares were up 3.1% to 10.70 pence each in London on Tuesday afternoon.
It said the order will support the smart metering deployment for South Bihar Power Distribution Co Ltd, a utility located in Bihar, India.
In addition to the modules, the order includes advanced metering infrastructure, standards-based hardware, services, omnimesh head-end software, a perpetual license, and an annual maintenance contract.
The supply of Omnimesh modules for this project is expected to start during the fourth quarter of financial 2024. The deployment will be completed in 27 months.
A support and maintenance contract will be in effect for a period of seven and a half years after the go-live stage.
Chair John Cronin said: ‘We are delighted to announce a subsequent order from IntelliSmart, taking our cumulative order book for India to 5.3 million modules. We have successfully delivered around 2.1 million modules to the end of [the second quarter of financial 2024] and anticipate the delivery of the remaining backlog of 3.2 million modules as per the projected timelines.’
Copyright 2023 Alliance News Ltd. All Rights Reserved.