Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that it has signed a distribution agreement with The JST Group (“JST”) to initially distribute Cyan’s narrowband mesh IoT technology in Thailand, with the potential to expand into other mutually attractive territories.

JST is a major supplier of technical products and services, providing specialist equipment and manpower to power industries in Thailand and across South East Asia. Cyan has installed its CyLec smart metering technology in JST’s laboratory in Bangkok and the working solution has now been demonstrated to a local Thai utility. According to a report by Northeast Group, Thailand plans to implement over 1 million smart meters which will contribute largely towards the region’s $26.4 billion total investment in smart grid infrastructure by 2026*.

This recent distribution agreement continues Cyan’s expansion into other emerging markets with the Company now operating in India, China, Sub-Saharan Africa, Brazil and the Middle East.

Cyan’s success in emerging markets was recognised last week with the Company winning the Best International Trade category at the UK Energy Innovation Awards for its international sales of CyLec smart metering solutions designed for the power sector in emerging economies.

Energy is a global business, and Judges felt that Cyan’s approach to providing a real solution to a world-wide energy issue was well worth the recognition of being the winner. Cyan has won customer contracts across Asia, the Middle East, Africa and South America and continues to pursue new international opportunities for its technology. Cyan’s narrowband mesh architecture enables smart metering technology that meets the energy requirements of emerging markets, enabling power savings, lowering operating costs and reducing energy losses, which is critical in these economies.

John Cronin, Executive Chairman of Cyan Technology, commented: “We are delighted to have signed a distributor agreement with JST which provides another new channel to market for Cyan.  The Cyan team and JST have worked collaboratively to demonstrate a working solution quickly and we look forward to continuing this partnership to deliver smart metering technology in Thailand.

“Furthermore, the prestigious award win adds further validation of both Cyan’s technology and business model for emerging markets. To deliver its technology, Cyan has established in-country partner ecosystems, supporting the transfer of skills and experience to facilitate customer ownership and generate local wealth. Through Cyan’s investment in research and development and its collaborative engagement model, Cyan’s narrowband mesh technology provides optimised solutions for energy that deliver exceptional performance at the right price point for emerging markets.”

3 May 2016