2nd Aug 2023 10:18
(Alliance News) - CyanConnode Holdings PLC on Wednesday said it received an order for 300,000 Omnimesh modules from Dakshin Gujarat Smart Metering Private Ltd.
Shares in the Cambridge, England-based narrowband radio frequency mesh networks provider were up 13% at 15.47 pence each in London on Wednesday morning.
CyanConnode said the order will support the deployment of smart metering for Daksjin Gujarat a power distribution utility in Gujarat, India, and subsidiary of New Delhi-based metering and digital solutions provider, IntelliSmart Infrastructure Private Ltd.
The supply of modules will begin in the third quarter of 2024, and deployment is expected to take place in around 27 months.
With this order, CyanConnode's overall order book is now 4.5 million, of which 1.9 million modules have already been delivered.
Chair John Cronin said: "We are delighted to have received this order from Dakshin Gujarat Smart Metering, which serves as a robust endorsement of our cutting-edge technology.
"Our Omnimesh modules are designed to ensure seamless integration and high performance, and this partnership validates our dedication to pushing boundaries."
By Sabrina Penty, Alliance News reporter
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