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New strategic partnership agreement signed with Enzen

CyanConnode expands its reach with new partner in Ireland

CyanConnode (AIM:CYAN.L), the world leader in narrowband RF mesh networks for Omni Internet of Things communications, announces that it has signed a strategic partnership agreement with Enzen Global Ltd (“Enzen”).

CyanConnode and Enzen have agreed to collaborate to deliver expertise in narrowband mesh technology to the Internet of Things (“IoT”) market in Ireland. This agreement will provide combined value to support Smart Energy, Smart Cities and IoT in the Irish market. CyanConnode’s communication platform will enable Enzen to deliver Metering as a Service (“MaaS”), offering utilities an outsourced smart metering solution and reduced costs. CyanConnode will provide hardware and its Head End Software (on a recurring revenue basis) and Enzen will provide system integration to deliver this MaaS model.

In 2015, CyanConnode announced two purchase orders from Enzen in India, for Chamundeshwari Electricity Supply Corporation Limited (“CESC”) in Mysore, Karnataka and Pashimanchal Vidyut Vitran Nigam Limited (“PVVNL”) in Utter Pradesh. For both contracts, worth c£1.5 million in total, CyanConnode is acting as Enzen’s end-to-end solution provider for smart metering.

The Commission for Energy Regulation (“CER”) is operating a National Smart Metering Programme (“NSMP”) with a target to install 80% of the required smart meters in the Republic of Ireland by 2020. The Irish utility, ESB Networks, has issued a contract notice to deliver 2.2 million smart meters in the Republic of Ireland. Enzen will submit a bid based on CyanConnode’s Ultimesh™ narrowband mesh solution for the ESB Networks tender, of which the communications Request For Proposal is expected in Q3 2016.

John Cronin, Executive Chairman of CyanConnode, commented: “We are delighted to be working with Enzen in Ireland, a partnership built on our successful relationship with Enzen in India. CyanConnode has established an eco-system of partners in each target market and it is now starting to build partnerships that are global, which will support our expansion into new markets.”

Vijay Dwarkanath, Global Head of Energy and Water Networks, Enzen, commented: “CyanConnode’s narrowband technology delivers exceptional performance which is proven by successful deployments through our partnership in India. CyanConnode’s communication platform will enable Enzen to deliver Metering as a Service, providing an outsourced end-to-end smart metering process.”