Business
Major New Contract For 6.5m Omnimesh Modules
Major New Contract For 6.5m Omnimesh Modules.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n\n \n28 August 2024\nCyanConnode Holdings plc\n(\"CyanConnode\" or the \"Company\")\n \nMajor New Contract For 6.5m Omnimesh Modules\n \nCyanConnode Holdings plc (AIM: CYAN), a world leader in narrowband radio frequency (\"RF\") mesh networks, is pleased to announce that its subsidiary, CyanConnode Pvt Ltd, has received a Letter of Award (\"LOA\") from a global partner for six and a half million Omnimesh Modules, together with Advanced Metering Infrastructure, Standards-Based Hardware, Omnimesh Head-End Software, Perpetual License, and a Support and Maintenance Contract.\n \nThe LOA relates to various smart metering projects in India, with supply of Omnimesh Modules expected to commence during H2 of FY2025. The installations for each project will then be completed within 27 months and followed by a 93 month Support and Maintenance Contracts, which will commence upon completion of the installation phase. Approximately 70% of the contract will be paid during the installation phase. The remaining 30% of the contract will be paid for in equal monthly instalments over the duration of the Support and Maintenance Contract period.\n \nJohn Cronin, Executive Chairman of CyanConnode, commented:\n \n\"I am delighted to announce CyanConnode's largest order to date from a global partner, with whom we have successfully collaborated on various projects over the years. This order nearly doubles our order book for India, increasing it from 6.6 million units to 13.1 million units, and solidifies our position in India's nationwide smart metering rollout.\"\n \n \n- Ends -\n \nEnquiries:\nCyanConnode Holdings plc Tel: +44 (0) 1223 865 750\nJohn Cronin, Executive Chairman ...