Cyan cracks Brazil with $135k deal
Lighting and metering technology company Cyan Holdings has cracked the Brazil market.
The Cambridge UK business has formed a strategic partnership with Ilumatic to collaborate in the development, supply and delivery of CyLux®, Cyan's energy efficient smart lighting solution, within Brazil. The agreement also includes an order for $135,000.
Cyan is an AIM-quoted integrated system design company delivering wireless solutions for lighting control and utility metering announces.
Th initial order from Ilumatic comprises a significant initial upfront payment as well as complete funding to adapt, qualify and certify Cyan's CyLux® products to meet the RF spectrum standards in Brazil.
Cyan says the funding will rapidly accelerate its strategic entry into this significant market while being cost neutral and resource light for the company. Ilumatic is focused on the development and manufacture of energy efficient street lighting products and is a well-established name within the fast-growing Brazilian market as one of the three leading lighting manufacturers.
The lighting market across Latin America is estimated to reach in the region of $8bn by 2020, of which lighting control systems will account for approximately $153m.
Nelson d'Arrigo, general manager, Ilumatic, said: “In Brazil demand is growing for automated, energy saving lighting control systems. We conducted a thorough review of the lighting control market and were delighted with Cyan's solutions.
“Cyan's CyLux® technology is ideal in that it is optimised for emerging markets, has low power consumption and is compatible with all lighting technologies.”
John Cronin, Executive Chairman, Cyan Technology added: “We are very pleased to be partnering with Ilumatic which is a well-respected name in Brazil across sectors including government, energy utilities, construction and engineering.
“The lighting market across Latin America is growing at a rapid rate and this agreement, in line with the company's strategy of building key partnerships in our target markets, offers a significant opportunity for Cyan's lighting products to complement our current smart-metering opportunities in India.”
• PHOTOGRAPH SHOWS: John Cronin