Business
Significant New Contracts
Significant New Contracts.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n RNS Number : 7588P Cyan Holdings Plc 31 March 2009 \n \nCyan Holdings plc ('Cyan' or the 'Company')\nSignificant New Contracts\n\nCyan Holdings Plc (AIM: CYAN.L), a fabless semiconductor company providing configurable application software and production ready modules based on feature rich, low power, microcontroller chips, is delighted to announce it has received orders for delivery in 2009 with a cumulative value in excess of $1M. \n\nThe Company has received an order for 50,000 automated meter modules incorporating Cyan microcontrollers and proprietary networking software. The order comprises over 700 units already paid for, plus the balance of the 50,000 units scheduled for delivery in batches between July and December. This order, is for an established Chinese meter manufacturer with an existing installed base of such meters, but this customer is bidding on projects that might realistically involve further orders of up to another 130,000 units during 2009. The Cyan automated meter modules have exceptionally wide applicability within the utility supply industry and are currently being evaluated by 15 separate utility companies in China and India.\n\nIn addition, the Company has received an order for 10,000 Street Lamp controller modules that also incorporate Cyan microcontrollers and proprietary networking software. The order comprises 2,000 units to be delivered in July, plus a further 8,000 units for delivery in batches by year end. While this initial order is subject to final field testing, the Cyan units have passed similar field tests and the Chinese company concerned is bidding on contracts for in excess of one million units for delivery during 2009-10. Meanwhile, another larger and well established Chinese Street Lamp supplier is expected to schedule field trials that if successful presents Cyan with the possibility of an initial 500,000 unit order in 2009 for delivery in 2010.\n\nIn Europe, Cyan has received an order for 5,000 microcontrollers and an LoI for a further 20,000 microcontrollers to be incorporated within a jointly designed gateway for automated metering networks. Cyan's own or jointly designed gateway products are being evaluated in several European countries, as well as in North America. The market for such modules for any individual Europe...