In August 2014 Frost & Sullivan recognised the company with the ‘2014 European Frost & Sullivan Award for Technology Innovation Leadership’, based on its analysis of the smart metering market.

Each year, Frost & Sullivan presents this award to the company that has demonstrated uniqueness in developing and leveraging new technologies, which significantly impacts both the functionality and the customer value of new products and applications. The award lauds the high R&D spend toward innovation, its relevance to the industry and the positive impact on brand perception.

“CyLec has already demonstrated its practicality in India and Brazil, and has proven to be compatible with the existing static meters in these countries,” said Frost & Sullivan Senior Research Analyst, Avimanyu Basu. “The retrofitting is achieved with the help of a compact retrofit module that connects with the existing communications interface on the meter.”

The company’s strategy of partnering with local smart metering vendors was independently recognised by Frost & Sullivan as a highly effective method of commercialising its technology in emerging markets.