17th Sep 2014 08:10
LONDON (Alliance News) - Cyan Holdings PLC got a boost to its share price on Wednesday morning after the company said a consortium in which it is involved has released a concept pilot to demonstrate the CyLec Advanced Metering Infrastructure technology with state-owned Indian utility company Uttar Gujarat Vij Co Ltd.
The pilot, being rolled out in Naroda and Deesa, is part of a competitive tender process which started in late 2013 involving four other bidding consortia.
The pilot programme is one of 14 smart grid pilots being run in India under the Smart Grid Task Force, part of the government's Ministry of Power.
Cyan also said it has deployed a pilot for a 100 metre, 865 megahertz smart-metering proof of concept with the same utility under a contract issued in April. The utility is now expected to evaluate the results of the pilot in coming months.
Cyan shares were boosted on the news, up 3% to 0.34 pence in early trade.
By Sam Unsted; [email protected]; @SamUAtAlliance
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