CyanConnode Holdings plc has secured its largest contract to date, marking a significant milestone in India’s ambitious smart metering initiative. The company has been awarded a contract to supply 6.5 million Omnimesh communication modules, a move that nearly doubles its existing order book in India from 6.6 million to 13.1 million units.
This substantial contract encompasses the provision of Omnimesh Modules, Advanced Metering Infrastructure (AMI), standards-based hardware, Omnimesh Head-End Software, a perpetual license, and a comprehensive support and maintenance agreement. The deployment is scheduled to commence in the second half of FY2025, with installations expected to be completed over a 27-month period, followed by a 93-month support phase.
India’s smart metering market is experiencing rapid growth, driven by government initiatives aimed at modernising the country’s energy infrastructure. The market is projected to reach USD 3,179.5 million by 2032, growing at a compound annual growth rate (CAGR) of 34.57% from USD 219.7 million in 2023 . CyanConnode’s strategic focus on this market positions it to capitalise on the increasing demand for efficient energy management solutions.
In addition to the 6.5 million module contract, CyanConnode’s Indian subsidiary, DigiSmart Networks, has secured a £70 million contract to deploy approximately 750,000 smart meters in Goa. This project marks the company’s first major undertaking as an Advanced Metering Infrastructure Service Provider (AMISP) and includes the supply of smart meters, RF and cellular communications, cloud services, and a meter data management system.
CyanConnode’s Omnimesh technology, based on IPv6 narrowband RF mesh networks, is designed to enable utilities to gather accurate and timely customer metering data. This supports loss reduction programmes and enhances energy cost efficiency, addressing India’s significant power loss challenges, which amount to approximately $32 billion annually due to inefficient infrastructure and metering issues.
The company’s commitment to local engagement is evident through its establishment of a local team in India and manufacturing facilities aligned with the ‘Make in India’ programme. CyanConnode has also established a significant in-country partner ecosystem encompassing multiple meter manufacturers, system integrators, and utilities.
CyanConnode Holdings plc (LON:CYAN) is a world leader in the design and development of Narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications.
