22nd Jun 2020 11:32
(Alliance News) - CyanConnode Holdings PLC on Monday said it has commenced shipment of Omnimesh RF modules to Genus Power Infrastructures Ltd.
In January, the wireless communication technology provider said it received a formal purchase order for smart metering from Indian partner Genus Power, worth GBP3.3 million.
On Monday, it said the first shipment of 10,000 modules was made in June, with advanced payment for those modules facilitated by a letter of credit provided by Genus. It added that Genus can now commence volume production of Omnimesh-enabled smart meters for the end customer, a utility located in South India.
Delivered as part of CyanConnode's Omni InternetofThings platform, Omnimesh for utilities provides electricity metering capability, improving customer experience and billing. It rapidly locates and resolves outages, reduces distribution issues and losses, and manages demand in real-time during peak periods, according to the company.
Cambridge-based CyanConnode said that while the Covid-19 pandemic resulted in delays to the commencement of field installation works, significant progress has been made on software and integration scope of works.
"There has been a good start towards providing the Omnimesh Network Canopy, which will provide a hybrid RF Smart Mesh and cellular communication network that is licensed for up to 200,000 Omnimesh enabled smart meters. India is still seeing an increase of Covid-19 cases, and I wish to express my sympathies to families who have been affected. Nonetheless, I remain optimistic and look forward to giving further updates relating to new orders in due course," said CyanConnode India Chief Executive & Managing Director Anil Daulani.
The stock was trading 17% higher at 4.50 pence each on Monday morning in London and 45% higher than at the start of the year.
By Ife Taiwo; [email protected].
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