Business
Agreement with Adtel
Agreement with Adtel.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 4054H CyanConnode Holdings PLC 15 November 2018 \n\nCyanConnode Holdings plc\n(\"CyanConnode\" or the \"Company\")\n \nAgreement with Adtel\nPhilippines Smart Metering Market\n \nCyanConnode, a world leader in narrowband radio frequency (RF) mesh networks, is pleased to provide details of a distribution agreement entered into with Adtel Inc (\"Adtel\") to distribute CyanConnode's smart metering RF network technology in the Philippines.\n \nAdtel distributes communication network equipment across the Philippines and its parent company Lopez Inc also supplies the electric power distribution sector in the region. Both are able to offer its customers CyanConnode's smart metering RF network technology.\n \nUnder the terms of the agreement, entered into in August 2018, which includes sales performance milestones, Adtel and its subsidiary Quantum Renewable Inc will distribute CyanConnode's Optimal technology, an end-to-end smart metering RF network solution that includes software and RF network management tools, including head end software. Further details can be found at: https://www.quantumre.com.ph/ar/smart-meter.html.\n \nRising demand for electricity and growing penetration of renewable energy technologies have been posing major challenges to utilities in Southeast Asia. This has brought smart electricity grid technologies to the forefront and Northeast Group LLC, a market intelligence firm based in Washington, D.C., with expertise in the smart infrastructure and smart grid sectors, has forecast that Southeast Asia will invest $9.8 billion in smart grid infrastructure over the next decade. It estimates the largest market segment will be Advanced Metering Infrastructure where an investment of $4.6 billion will be made1. CyanConnode estimates that the addressable market for smart meters in the Philippines alone is close to 21 million units, providing a sizeable market opportunity2.\n \nHarry Berry, CyanConnode's Chief Operating Officer, commented: \"CyanConnode is very pleased to have entered into this partnership with Adtel, who will provide a distribution channel for the Company's smart metering RF network technology in the Philippines, thereby increasing global reach. \n \n\"CyanConnode's cost-effective technology enables it to break into emerging markets and its partneri...