Cyan Enters Chinese Smart Metering Market with Newcapec Partnership Agreement
Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that it has signed a strategic partnership agreement with Newcapec Electronics Company Limited (“Newcapec”), a leading solutions provider in China.
Together, Cyan and Newcapec will explore new opportunities in next generation smart metering applications for the power, gas and water industries as well as emerging city applications, such as lighting and sensors, both in China and internationally.
Cyan and Newcapec have agreed to collaborate with the aim of adding value to the Chinese Smart Metering market using their combined solutions, as well as identifying and developing new applications across emerging smart energy, ‘Smart Cities’ and Internet of Things (“IoT”) markets.
John Cronin, Executive Chairman of Cyan, commented: “We are pleased to be partnering with Newcapec to provide increased value through our integrated solutions. Our aim is to deliver smart metering solutions to enable enhanced intelligence for both utilities and consumers, and to support energy efficiency, consumption and demand side management initiatives. In addition, we will work together to identify new applications for our combined technology within the IoT and ‘Smart Cities’ to support the creation of sustainable, viable living spaces with Cyan’s integrated platform providing insight and control.”
Mr Yang Weiguo, President, Newcapec, commented: “China aims to lead the world in the use of connectivity to consume electricity and other utility services efficiently. Proven by its experience in emerging markets, Cyan’s integrated smart energy solutions address the immediate market requirement as well as providing a platform to develop new smart city applications for the future.”
In China, economic growth and urbanisation is driving the adoption of connected technology as the government seeks to balance supply and demand in key sectors of the economy, namely energy and transportation. Furthermore, other major industries are also embracing IoT which provides real-time information to increase efficiency, lower costs and manage infrastructure more effectively. China’s Ministry of Industry and Information Technology released its 12th Five-Year Development Plan in 2012, with the goal of scaling the IoT market to $163 billion by 2020*.
Newcapec is an expert in the delivery of innovative technology and managed services across a range of business sectors including energy, the public sector and telecoms. It has 35 branches throughout China and has more than 900 employees.