CyanConnode Holdings plc (LON:CYAN), a world leader in narrowband radio frequency (RF) mesh networks, has announced that its subsidiary, CyanConnode India Pvt Ltd, has received an order from Montecarlo Limited (Montecarlo) for 983,525 Omnimesh Modules, together with Advanced Metering Infrastructure, Standards-Based Hardware, Omnimesh Head-End Software, Perpetual License, and a Support and Maintenance Contract.
The order relates to a smart metering deployment in Jabalpur, Madhya Pradesh. It was won against a very competitive field and supply of Omnimesh Modules is expected to commence during Q1 of 2023. The installation of smart meters will be completed within 30 months and will be followed by a seven-and-a-half-year Support and Maintenance Contract, which will commence upon completion of the installation phase. Approximately 60% of the contract will be paid for during the installation phase, against either (i) letters of credit or (ii) via a trade finance portal with 30-day payment terms. The remaining 40% of the contract will be paid for in equal monthly instalments over the Support and Maintenance Contract period. Certain components required for this contract have been bought in advance to ensure that contract delivery dates are met.
John Cronin, Executive Chairman of CyanConnode, commented:
“I am delighted to announce our first order from Montecarlo, who are a diversified infrastructure development company based in India. This contract is our third project in Madhya Pradesh, following two Omnimesh deployments for Madhya Pradesh Paschim Kshetra Vidyut Vitran Company Ltd, (MPWZ) in Indore.
The contract is another circa one million Omnimesh Module order, which is testament to our standards-based cutting-edge technology, skills and understanding of the Indian smart metering ecosystem. Indore’s smart metering infrastructure is already running on an Omnimesh RF mesh network, and the deployment has become a case study for other Distribution Companies (DISCOMs) across the country. The project has been a triumph for MPWZ, who achieved a return on investment in only two and a half years.
CyanConnode’s and Montecarlo’s combined local knowledge and project implementation experience will assist in the successful execution of this project and we are confident that our partnership will go from strength to strength.”
Mr. Mrunal Patel, Joint MD of Montecarlo, commented:
“We are very pleased to be partnering with CyanConnode. Montecarlo comes with a strong and successful project implementation background and while this is our first foray into the smart metering business, we are confident that we will make this a successful case study for other projects. CyanConnode is a service provider and has a proven track record in implementing communications infrastructure for smart metering in India and I believe that our strengths will lead to further such opportunities and partnerships.”
As previously announced, CyanConnode Holdings plc recently won two other substantial orders, one of which is in Bihar for circa one million units. This latest order means that CyanConnode is now active in ten Indian States and has an order book of more than 3.6m Omnimesh Modules in India alone. Consequently, CyanConnode has strengthened its position in India as the largest provider of RF Smart Mesh Networks for Advanced Metering Infrastructure (AMI). CyanConnode also believes that the recently announced Revamped Distribution Sector Scheme (RDSS) will result in more contracts being awarded to the Company in the near future.
