29th Jul 2014 10:38
LONDON (Alliance News) - Cyan Holdings PLC said Tuesday that it has signed a memorandum of understanding with Ecolibrium Energy Private Ltd to develop, market and deploy smart metering products in India.
The two companies, acting as a consortium, will tender for a number of smart metering projects in the country. It will combine its sub gigahertz wireless communication platform with Ecolibrium's smart grid platform GridSense.
Ecolibrium has more than 400 customers across India, Cyan said.
"This partnership will further extend Cyan's eco-system partners to allow Cyan to deliver measurable value to its customers," said Executive Chairman John Cronin in a statement.
Shares in Cyan were trading 5.5% higher at 0.380 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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