Cambridge, U.K. — (METERING.COM) — July 19, 2012 – Cambridge-based smart energy solution provider Cyan is making inroads into the India market with a recent order exceeding $1 million and other contracts in prospect.
In May Cyan announced the order with “a major metering customer” for wireless solutions for lighting control and utility metering. The company has previously worked with this customer, in conjunction with several of its system integrator partners in India, to provide an interoperable solution capable of advanced metering reading (AMR) and automated metering infrastructure (AMI). The integration of Cyan’s CyLec products is now complete and the order is to fulfil several projects during the second half of 2012, across a range of utilities.
Cyan is also working on an AMR tender with the Tamil Nadu Electricity Board (TNEB), and four of the company’s partners are currently undertaking 500 unit pilots each while in parallel the meters are being type tested at India’s Central Power Research Institute. The tender, which is expected to be announced in August, is for the supply of 1.5 million meters, in the first phase in what is anticipated to be a total upgrade program of 18 million meters.
In the meantime Cyan is also raising £2.1 million in share placements to fund its working capital requirements and business development needs.