CyanConnode has entered into a distribution agreement with Adtel to distribute smart metering RF network technology in the Philippines.
Under 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.
Adtel 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.
Rising 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 with market intelligence firm, Northeast Group, forecasting 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 made.
CyanConnode estimates that the addressable market for smart meters in the Philippines alone is close to 21 million units, providing a sizeable market opportunity.
Harry 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".