Cyan Holdings shares rise on India pilot

Software design company Cyan Holdings on Monday said one of its manufacturing partners has started a pilot with a large public utility in north India.

Shares in the company rose 4.38% to 0.72p after the group revealed its flexible wireless technology CyLec was being deployed with the utility for the first time.

The utility runs the power distribution and retail supply business in the north of the country, servicing about 2.0m domestic and more than 300,000 non-domestic/light industrial customers in 11 districts.

Cyan has also been chosen to participate in Web Mission 2013, a trade mission to Bangalore and New Delhi supported by the Technology Strategy Board and UK Trade & Investment (UKTI).

"We are delighted that one of our key strategic partners has implemented a further pilot in India, demonstrating an additional step in the adoption of CyLec as a standard for smart electricity metering across India," Executive Chairman, John Cronin, said.

"We are also encouraged that Cyan has been chosen to participate in this technology trade mission to India, supported by the UKTI."

RD