CyanConnode gets new Nordic order worth nearly EUR 0.5m
Smart mesh networks specialist CyanConnode Holdings announced on Friday that it has received a follow-on Nordic order worth €0.49m.
The AIM-traded firm said the order, for legacy CyanConnode hardware and software, was from an existing partner with the end customer being a Nordic utility, which was expanding an existing smart meter deployment.
It said it expected to recognise 50% of the revenues for the follow-on order in 2019, and 50% in 2020.
The existing smart meter deployment had been delivering “reliable communications” between consumers and the utility's data collection centre for more than eight years, providing significant benefits, including improved information on energy consumption, simplified billing and enhanced customer service, CyanConnode explained.
“I am pleased to announce this follow-on order for the expansion of an existing smart metering deployment in the Nordics,” said CyanConnode chief commercial officer Björn Lindblom.
“The order demonstrates our customer's confidence in CyanConnode's technology.”