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Cyan wins smart metering contract in Iran

Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces receipt of an initial purchase order from telecommunications contractor Micromodje for a 2,000 unit smart metering implementation, which will be fitted into street traffic cameras in the Islamic Republic of Iran.

This initial purchase order is worth £67,000 and is for the supply of Cyan’s CyLec Advanced Metering Infrastructure solution. It was placed shortly after international sanctions were lifted on Iran on 16th January and is believed to be one of the first orders secured by a UK business, with support from the specialist UK Trade and Investment team.

The first units were delivered at the start of last week and were successfully deployed in a two day period for a proof of concept to measure the energy consumption of the street traffic cameras. The Cyan HES has been installed on a Micromodje server in Iran and the Cyan end to end solution is providing meter readings as well as the ability to connect/disconnect supply. The solution will be demonstrated to government officials as part of the Victory Day of the Iranian Revolution celebrations on 11th February in Tehran.

John Cronin, Executive Chairman of Cyan, commented: “We are delighted to be partnering with Micromodje in Iran, particularly at this historic time following the lifting of economic sanctions against Iran on 16th January 2016. The combined Cyan team from India and the UK exceeded the customer’s expectations by deploying the proof of concept pilot in just two days. The order from Micromodje shows its confidence in Cyan’s enabling technology and we look forward to working with a highly experienced system integrator to deliver smart metering technology, enhancing the quality of service for energy utilities and customers in Iran.”

Mr Goldouzian, Managing Director of Micromodje, commented: “Cyan’s capability has been optimised for emerging regions, enabling these markets to address a number of challenges driven by rapid growth and the demand for energy. Its collaborative approach will empower Micromodje with new skills and expertise and we look forward to being part of Cyan’s global smart metering eco-system.”

Micromodje is a system integrator with a wealth of experience in delivering solutions for government contracts and has recently been expanding its core capabilities to include the emergent Internet of Things (“IoT”) connectivity markets. It will act as a distribution agent of Cyan’s smart metering hardware and software in Iran, whilst providing a complete turn-key service for the fulfilment of the deployments.

Micromodje and Cyan have now commenced discussions on a larger purchase order for smart electricity metering solutions to be deployed within Iran. The Iran Government estimate is 33 million smart electricity meters will be required(1).

Regulatory Confirmation Received

Micromodje has obtained import licenses from various Government institutions and Cyan has obtained regulatory approvals to enable Cyan’s CyLec smart metering solutions to be exported and deployed in Iran. Cyan has ensured that no parties involved in the transaction are on the European Union sanctioned list or the US Office of Foreign Assets Control Specially Designated Nationals list as well as no party being owned or controlled by the Iran Revolutionary Guards Corp.

Source: (1) http://www.iransg.com/saba_content/media/image/2015/10/7873_orig.pdf