Business
Memorandum of Understanding a
Memorandum of Understanding a.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n RNS Number : 1912A Cyan Holdings Plc 27 January 2011 \n \n\nCyan plc\n(\"Cyan\" or \"the Company\")\n \nSignature of Memorandum of Understanding and Trading Update\n \n \nCyan (AIM:CYAN), the integrated system design company delivering mesh based flexible wireless solutions for lighting control, utility metering and industrial telemetry, is pleased to announce that the Company has signed a Memorandum of Understanding to implement a partnership with a large manufacturing company in India that has developed a sophisticated web based city lighting control system for a contract to replace 375,000 streetlights in one city. The partnership agreement gives the customer access to Cyan server control technology on condition of use of Cyan lighting control products and the active marketing of the combined solution to other cities. An initial order for 1,000 units has been received to set up a demonstration facility of the combined lighting control system.\n \n \nThe Company is also pleased to provide the following trading update for the year ended 31 December 2010.In the second half of 2010 Cyan, announced orders for tens of thousands of street lighting controllers, each for initial projects with future requirements for hundreds of thousands of units. These orders and customers represent a small proportion of Cyan's current active lighting-customer engagements, which in turn represents a fraction of the emerging global street light replacement market.\n \nDuring 2010, Cyan shipped tens of thousands of units to wireless utility metering customers around the world. Most of these units were installed into large-scale trials. In the second half of 2010 a number of customers indicated to the Company that they were bidding for tenders of substantial quantity, and already in 2011 Cyan is aware of two new tenders for in excess of one million units.\n \nCyan has developed technology and products that deliver cost effective ready-to-deploy solutions. These allow established lighting and utility metering manufacturers to easily enhance their products to support remotely managed wireless networks of street-lights or utility-meters. There is substantial growing global demand for such wireless management networks and in recent years Cyan has made significant investment and has gained extensive expertise in de...