CyanConnode Holdings plc (LON:CYAN), a world leader in narrowband radio frequency (RF) mesh networks, has announced that its subsidiary, CyanConnode Pvt Ltd, has received an order from Montecarlo Limited (Montecarlo) for one million Omnimesh Modules, together with Advanced Metering Infrastructure, Standards-Based Hardware, Omnimesh Head-End Software, Perpetual License, and a Support and Maintenance Contract.
The order relates to a smart metering deployment in Nagpur, Maharashtra, with supply of Omnimesh Modules expected to commence within this quarter. The installation will be completed within 27 months and followed by a 93 month Support and Maintenance Contract, which will commence upon completion of the installation phase. Approximately 60% of the contract will be paid during the installation phase, against either (i) letters of credit or (ii) via a trade finance portal with 30-day payment terms. The remaining 40% of the contract will be paid for in equal monthly instalments over the duration of the Support and Maintenance Contract period.