Cyan Holdings plc
("Cyan" or the "Company")
Strategic Partnership Agreement with Nobre de la Torre, Brazil
Cyan Holdings plc (AIM: CYAN.L), the integrated system design company delivering wireless solutions for lighting control and utility metering announces that it has formed an exclusive partnership, assuming certain performance targets are met, with Nobre de la Torre ("Nobre") to collaborate on the development, supply and system integration of CyLec®, Cyan's smart metering solutions, within Brazil.
As part of this agreement, Nobre and Cyan will jointly develop hardware and software solutions for the power market within Brazil. Nobre will promote CyLec® under its Smart Metering Segment WorkForce programme and advise on the integration of Cyan Automatic Meter Reading ("AMR") and Advanced Meter Infrastructure ("AMI") technologies with Meter Data Management Systems ("MDMS"). Nobre will also arrange an initial two smart metering pilot studies to be carried out with Brazilian electricity distribution companies.
João Nelson C de la Torre, Executive Director, Nobre, commented: "Demand is rapidly growing for smart metering solutions in Brazil. We conducted a thorough review of the smart metering industry and were delighted with Cyan's technology. Cyan's CyLec® solution offers a different approach to other smart metering technologies in Brazil and we are confident that we can offer a compelling proposition that will allow us to be one of the largest AMR and AMI providers in Brazil."
John Cronin, Executive Chairman, Cyan Technology commented: "We are very pleased to be partnering with Nobre. The total smart grid market in South America is forecast to cumulatively reach nearly $50 billion by 20231 and this agreement, in line with the Company's strategy of building key partnerships in our target markets, offers a significant opportunity for Cyan. In some parts of Brazil as much as 20%2 of electricity output is stolen leaving Brazil's electricity grid under supplied (non-technical losses). This is similar to the situation we have seen in India, where we have a number of pilot projects working in real environments.
1http://www.northeast-group.com/reports/Brochure-South_America_Smart_Grid_Market_Forecast_2013-2023_NortheastGroup.pdf
2http://www.bloomberg.com/news/2012-03-08/electricity-theft-driving-demand-for-smart-meters-at-brazilian-utilities.html
Enquiries:
Cyan Holdings plc John Cronin, Executive Chairman www.cyantechnology.com |
Tel: +44 (0) 1954 234 400 |
Cenkos Securities plc NOMAD and Joint Broker Stephen Keys / Adrian Hargrave |
Tel: +44 (0)20 7397 8900 |
XCAP Securities plc Joint Broker Jon Belliss / Adrian Kirk |
Tel: +44 (0)20 7101 7070 |
Walbrook PR Bob Huxford Paul Cornelius |
Tel: +44 (0)20 7933 8780 [email protected] [email protected] |
About Cyan
Cyan is an integrated system design company delivering mesh based flexible wireless solutions for utility metering, lighting control & industrial telemetry. For more information, please visit www.cyantechnology.com.
About Nobre de la Torre
Founded in 2007, Nobre has developed deep domain knowledge in the field of smart metering. The length of expertise within the smart metering industry is significant and several Nobre employees have been part of Automated Meter Reading ("AMR"), Telecommunications and systems management and support industry since its first steps in Latin America. Operating as a trusted system integrator, the Company's focus on research and development has delivered high-levels of innovation for smart meter vendors, utilities and mobile device manufacturers alike.
Since 2010, Nobre has engaged with several utilities within Brazil to help develop the information technology required to support Automated Smart Meter Infrastructure ("AMI") across the region. For more information, please visit www.nobredelatorre.com.br
