Cyan expands its reach with new distributor in Thailand Winner of Best International Trade Award
Cambridge, UK: 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 distribution agreement with The JST Group (“JST”) to distribute Cyan’s smart metering technology in Thailand.
JST is a major supplier of technical products and services, providing specialist equipment and manpower to power industries in Thailand and across South East Asia. Cyan has installed its CyLec smart metering technology in JST’s laboratory in Bangkok and the working solution has now been demonstrated to a local Thai utility. According to a report by Northeast Group, Thailand plans to implement over 1 million smart meters which will contribute largely towards the region’s $26.4 billion total investment in smart grid infrastructure by 2026*.
This recent non-exclusive distribution agreement continues Cyan’s expansion into other emerging markets with the Company now operating in India, China, Sub-Saharan Africa, Brazil and the Middle East.
Cyan’s success in emerging markets was recognised last week with the Company winning the Best International Trade category at the UK Energy Innovation Awards for its international sales of CyLec® smart metering solutions designed for the power sector in emerging economies.
Energy is a global business, and Judges felt that Cyan’s approach to providing a real solution to a world-wide energy issue was well worth the recognition of being the winner. Cyan has won customer contracts across Asia, the Middle East, Africa and South America and continues to pursue new international opportunities for its technology. Cyan’s communication platform enables smart metering technology that meets the energy requirements of emerging markets, enabling power savings, lowering operating costs and reducing energy losses, which is critical in these economies.
John Cronin, Executive Chairman of Cyan Technology, commented: “We are delighted to have signed a distributor agreement with JST which provides another new channel to market for Cyan. The Cyan team and JST have worked collaboratively to demonstrate a working solution quickly and we look forward to continuing this partnership to deliver smart metering technology in Thailand.
“Furthermore, the prestigious award win adds further validation of both Cyan’s technology and business model for emerging markets. To deliver its technology, Cyan has established in-country partner ecosystems, supporting the transfer of skills and experience to facilitate customer ownership and generate local wealth. Through Cyan’s investment in research and development and its collaborative engagement model, Cyan’s narrowband mesh technology provides optimised solutions for energy that deliver exceptional performance at the right price point for emerging markets.”
John Cronin, Executive Chairman
Tel: +44 (0) 1954 234 400
Cantor Fitzgerald Europe – Nomad and Broker
Andrew Craig / Richard Salmond
Tel: +44 (0)207 894 7000
Beaufort Securities Limited – Joint Broker
Tel: +44 (0) 207 382 8300
Walbrook PR – Financial PR
Paul Cornelius / Nick Rome
Tel: +44(0) 20 7933 8780
CyanConnode is a world leader in narrowband RF mesh networks that enable Omni IoT communications. Cyan’s Ultimesh provides narrowband RF mesh network, optimised for exceptional performance and total cost of ownership and Connode’s Panmesh delivers standards-based IPv6 solutions, enabling rapid innovation for the implementation of third party applications. The Group provides customers with the flexibility and choice required to converge networks for applications in smart cities and IoT, delivering increased customer value.
For more information, please visit www.cyanconnode.com.
CyLec® is a complete control and communication network for electricity metering. CyLec® uses wireless technology to enable the collection and delivery of data from and to a meter, such as energy profiles, instant readings and the sending of tariff updates. Priority data can also be sent back to the utilities such as information regarding tampering enabling the utility to take action immediately.
About The JST Group
The JST Group is an independent group of wholly owned Thai service and supply companies, with over 40 years’ experience in Thailand and South East Asia. We have developed a flexible organization structure to provide locally-based and managed specialist services to meet emerging customer requirements.
For more information, please visit http://www.jst-group.com/
About Energy Innovation Awards 2016
Organised by the Energy Innovation Centre, the UK Energy Innovation Awards 2016 celebrate and provide a platform for pioneering small businesses and individuals to promote the technologies and ideas that have the potential to shape our energy future.