CyanConnode signs MoU with Alfanar to explore opportunities in AMI projects

CyanConnode Holdings plc (LON:CYAN), a world leader in narrowband radio frequency (RF) mesh networks, has announced that it has signed a Memorandum of Understanding (MOU) with Alfanar, a leading engineering, procurement, and construction (EPC) player, to explore joint investment opportunities in Advanced Metering Infrastructure (AMI) projects.

The MOU sets forth the intention of both parties to establish investments in AMI projects on an opportunity basis, leveraging the core strengths of both companies at the group level. CyanConnode and Alfanar will jointly review tenders across targeted geographies and, subject to a positive outcome, establish joint ventures for the implementation of AMI.

This collaboration aims to facilitate and expedite activities related to project investments, in compliance with existing policies, rules, and regulations in the targeted regions. Both CyanConnode and Alfanar will invest in the projects upon satisfactory techno-commercial due diligence. While the MOU does not create a binding commitment, it is anticipated that a definitive agreement outlining the terms and conditions of the collaboration will be signed by both parties in due course.

John Cronin, Executive Chairman of CyanConnode, commented: “We are delighted to enter into this MOU with Alfanar, a company that shares our vision of harnessing technology and innovation to drive sustainable growth. This collaboration presents a unique opportunity for us to combine our expertise and resources to make a significant impact on the global AMI market.”

Mohammed Irfan, Chief Executive Officer, Alfanar India, commented: “The unique partnership approach with CyanConnode will enable us to evaluate and strategically tap into new markets, especially on the global landscape for increasing our spectrum of service offerings. We are confident that our joint efforts will lead to the successful implementation of AMI projects, ultimately benefiting our customers and stakeholders.” 

This collaboration between CyanConnode and Alfanar reflects their shared commitment to explore new opportunities for expanding the global footprint in the smart grid sector. Working together to assess potential projects, both companies look forward to a fruitful partnership that drives growth and innovation in the advanced metering infrastructure industry.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin
CyanConnode Holdings plc

More articles like this

CyanConnode Holdings plc

Empowering India’s energy future

With the rapidly growing population and expanding energy demands, India faces significant challenges in managing its electricity supply. One of the key issues hindering efficient energy distribution is the high losses experienced throughout the grid. However, there is

CyanConnode Holdings plc

Silicon Labs: Empowering smart metering and charting IoT trends

TimesTech: What are Silicon Labs’ plans and partnerships in India to implement smart metering? Mr. Dhiraj: Smart metering has showcased rapid growth worldwide, and India has one of the most robust programmes to accelerate smart metering adoption. In June, Silicon

CyanConnode Holdings plc

Case Study: CyanConnode and the FG25 Sub-GHz SoC

The adoption of smart electricity metering is happening fast in India, driven in large part by widespread power theft and inefficiencies in the country’s energy infrastructure. According to some studies, as much as 20 percent of the electricity generated in

CyanConnode Holdings plc

UK’s CyanConnode hits over 2-month high

Shares of CyanConnode Holdings rose as much as 9% to 16.50p, their highest since May 25 The developer of narrowband Radio Frequency smart mesh networks receives order for 500,000 omnimesh modules from Indian smart metering and digital solutions provider IntelliSmart

CyanConnode Holdings plc

CyanConnode AGM to take place on Thursday 24th August 2023

CyanConnode Holdings plc (LON:CYAN), a global leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, has reminded shareholders that its 2023 Annual General Meeting will take place at 11a.m. on Thursday 24th August 2023 at the offices of Herald

CyanConnode Holdings plc

CyanConnode shares soar on contract win for Omnimesh modules

CyanConnode said on Wednesday it received an order for 300,000 Omnimesh modules from Dakshin Gujarat Smart Metering Private Ltd. Shares in the Cambridge, England-based narrowband radio frequency mesh networks provider were up 13% at 15.47 pence each in

CyanConnode Holdings plc

CyanConnode receives order for 300,000 Omnimesh Modules

CyanConnode Holdings plc (LON:CYAN), a global leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, has announced the receipt of an order for 300,000 Omnimesh Modules from Dakshin Gujarat Smart Metering Private Limited, a subsidiary of IntelliSmart Infrastructure

CyanConnode Holdings plc

Future growth opportunities for CyanConnode

CyanConnode Holdings plc (LON:CYAN) has a price-to-sales (P/S) ratio that is similar to the median P/S ratio of around 3x in the Semiconductor industry in the United Kingdom. This may not be particularly noteworthy, but it is worth

CyanConnode Holdings plc

Power monitoring system market expected to reach $403.36 billion

The New Report By Fortune Business Insights Titled, ‘Global “Power Monitoring System Industry” Size, Share, Price, Trends, Report, and Forecast 2023-2028’, gives an in-depth analysis of the global Power Monitoring System Industry, assessing the Industry based on its segments

CyanConnode Holdings plc

CyanConnode Holdings record revenues and orders won

CyanConnode Holdings plc (LON:CYAN), a global leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, has announced its audited results for the year ended 31 March 2023. Financial highlights ·    Increase of 23% in revenue to £11.7m in FY23 from £9.6m

CyanConnode Holdings plc

New and emerging technologies transforming the distribution segment

The power distribution segment in India is undergoing significant trans­formation, driven by advancements in technology and constant search for efficient and sustainable energy management solutions. Several new and emerging technologies are being adopted to improve the distribution infrastructure,

No more posts to show