CyanConnode wins $5.4m Bangladesh order

CyanConnode has clinched a $5.4m purchase order for smart metering in Bangladesh.

CyanConnode said: "This the company's first order for a utility customer in Bangladesh and is a further demonstration of the company's growing geographical sales footprint.

"Furthermore, the order size and revenue visibility provided by the long-term nature of this order reflects the company's leading position within the smart metering industry in both emerging markets and also in Europe, where the importance of being able to accurately and remotely record data around energy consumption and appropriate billing is uniform."

The $5.4m purchase order is for the supply of CyanConnode's Advanced Metering Infrastructure solution for a 150,000 unit smart metering deployment.

The energy management system company, based in Eastern Europe, will integrate CyanConnode's hardware with its smart meters and shipment to their production facility will take place over the next 12-18 months.

CyanConnode will also provide its Head End Server Software, which will be hosted by the energy management systems customer, with annual software licence income being recognised over a ten year contractual period following successful smart meter implementation.