CyanConnode reaches two million endpoint milestone in Indis

9th Aug 2024 11:26

(Sharecast News) - Narrowband smart mesh network technology specialist CyanConnode announced a significant achievement by its Indian subsidiary on Friday, after it successfully deployed over two million communication endpoints across India.

The AIM-traded firm said it made CyanConnode the first and only smart metering communications provider in the country to reach such a milestone.

CyanConnode India's extensive deployment spanned 10 states - Assam, Rajasthan, Himachal Pradesh, Madhya Pradesh, Gujarat, Tamil Nadu, Bihar, Maharashtra, Karnataka, and Andhra Pradesh.

The company said it had consistently met the required service level agreements.

In addition to the milestone, CyanConnode said its network played a crucial role in the Tamil Nadu Generation and Distribution Corporation (Tangedco) smart metering project, which recently earned the SKOCH Gold Award in the power and energy category.

The board said the award recognised the significant digital transformation Tangedco had achieved in its commercial operations, powered by CyanConnode's technology.

It said the smart metering project had delivered results including billing and communication rates exceeding 99%, leading to more timely invoicing, reduced errors, and enhanced customer satisfaction.

The project had also optimised operations, reduced carbon emissions, increased revenue, and improved manpower efficiency.

"We are immensely proud of these achievements. Reaching the milestone of two million deployed communication endpoints is a testament to the reliability of our technology and the hard work and dedication of our team in India," said executive chairman John Cronin.

"Tangedco's SKOCH Award win highlights the significant impact of our technology on improving operational efficiency and customer satisfaction.

"These accomplishments reinforce our position as a leader in smart metering solutions and our commitment to supporting India's energy management initiatives."

At 1030 BST, shares in CyanConnode Holdings were up 1.23% at 8.2p.

Reporting by Josh White for Sharecast.com.