CyanConnode Holdings plc (LON:CYAN), a global provider of IoT communication and smart metering solutions, hsd announced that it has received a follow-on order worth over AED 5.8m (£1.2 million) for cellular gateways in the Middle East and North Africa (MENA) region.
This latest award forms part of an expanding multi-year deployment, which began with an initial order announced on 4 August 2022, followed by further scaling through a Letter of Award announced on 28 October 2024. Under the terms of this latest contract, the Company will supply its cellular gateways to support the rollout of smart electricity metering infrastructure. All equipment under this order is scheduled for delivery within the current financial year ending 31 March 2026, with revenue to be recognised accordingly.
John Cronin, CyanConnode CEO, commented:
“We are delighted to have received a further follow-on order for this project in the MENA region. It builds on the momentum from our 2022 initial contract and the 2024 expansion, strengthening our strategic partnership with the client. This order enhances revenue visibility and supports our global growth trajectory.”
