24th Mar 2015 09:44
LONDON (Alliance News) - Cyan Holdings PLC on Tuesday said it has signed a non-exclusive distribution deal with XLink Communications Pty Ltd to distribute its smart metering and lighting products in South Africa.
Cyan, the utility metering and lighting control software company, said XLink will distribute its smart energy communication technology, which allows metering and lighting market companies to measure and control energy consumption.
The deal also includes an initial order for Cyan's smart metering hardwarde and software, CyLec, for a 100-unit proof-of-concept project in South Africa, which will be deployed by XLink.
Cyan did not provide any financial details on the agreement.
"We are pleased to be partnering with XLink to distribute and deploy our smart energy solutions in South Africa. We believe that our technology will assist XLink's customers in increasing energy efficiency through cost savings and a reduction in energy losses," said John Cronin, Cyan's Executive Chairman.
Shares in Cyan were up 2.2% to 0.23 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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