CyanConnode gets first order from IntelliSmart in India

The AIM-traded firm said under the purchase order, it would supply 100,000 ‘Omnimesh’ modules, together with advanced metering infrastructure, standards-based hardware, services, Omnimesh head-end software, perpetual licensing, and an annual maintenance contract.

It said the supply of modules had already started, with the contract to be completed within 30 months under a design, build, finance, own, operate and transfer (DBFOOT) model.

“We are delighted to have received our first order from IntelliSmart, which is a direct result of our continued association since last year and in line with our expectations,” said executive chairman John Cronin.

“IntelliSmart is the first service provider to use the DBFOOT model and it has also installed the first smart prepaid meter in India under the Revamped Distribution Sector Scheme (RDSS).

“The Indian smart metering market is scaling up to deliver 250 million smart prepaid meters and I believe that CyanConnode's technology, together with its ability to deliver projects on time and within budget, will stand it in good stead for the future.”

At 1508 BST, shares in CyanConnode Holdings were up 8.91% at 16.2p.

Reporting by Josh White at Sharecast.com.