Cyan lines up $3m smart meter order in Africa
Cambridge UK smart meter technology business Cyan has lined up a potential $3 million order for Egyptian contractor El Sewedy in Western Africa.
Subject to contract, El Sewedy intends to appoint Cyan to provide a full smart meter (AMI) solution for up to 200,000 consumers in batches over three years.
If deployed in full, the contract could be worth up to $3 million to Cyan. Cyan will immediately start working towards signing a contractual order with El Sewedy for the 200,000 meters indicated.
Cyan has received a letter of intent although that is no cast iron guarantee of the work until the ink is dry on the contract.
The Cyan AMI modules would be integrated into the El Sewedy electricity smart meters while Cyan IHD modules would be integrated into El Sewedy’s IHD device.
The resulting solution will provide a full bi-directional communication system from the IHD to the electricity smart meter and then through the Cyan communication network to the utility’s billing systems.
In a joint analysis that Cyan and El Sewedy prepared the West African utility could save over $150M over a 10-year period from the 200,000 meters by using the Cyan radio mesh communication network solution compared to a GPRS sim card based smart metering communication solution which was also evaluated. The end user claims to have more than 2.5 million customers.
John Cronin, executive chairman of Cyan, (pictured) said: “I am delighted to update shareholders on this significant LOI which has been signed by the El Sewedy chairman following my meeting with him at the El Sewedy worldwide headquarters in Cairo last week.
“This is a substantial commercial opportunity for Cyan which also could accelerate entry into other key countries using El Sewedy as a channel to market to their existing and new customers.”