CyanConnode secures Middle East and North Africa follow-on contract

31st Oct 2023 11:30

(Sharecast News) - Narrowband RF mesh networks designer CyanConnode has received a letter of award for a follow-on smart metering deployment in the Middle East and North Africa.

CyanConnode said on Tuesday that the follow-on contract built upon its first MENA order, received back in April 2022, and was for the AIM-listed group's cellular communications product, which will be deployed to connect smart electricity and smart water meters.

Chairman John Cronin said: "We are delighted to have secured this LOA, building upon our previous success in 2022, where the delivery of cellular hubs to connect up to 1.0m Omnimesh cellular communications modules in the MENA region has been accomplished successfully.

"This contract significantly enhances our relationship with this important customer, which continues to strengthen as we further develop our business in the MENA region, and enhances our visibility over revenue."

As of 1130 GMT, CyanConnode shares were up 2.64% at 9.49p.

Reporting by Iain Gilbert at Sharecast.com

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