Cyan Holdings (LON:CYAN) said three more partners tendering for a potentially huge electricity meter contract in India have been asked to produce 500 pilot units each.
The request was made by the Tamil Nadu Electricity Board, which plans to replace 18 million old meters with devices that can be automatically read.
Cyan provides the backbone wireless technology and software that allows units to communicate.
Chairman John Cronin said: "We are delighted that three further Cyan partners have been formally requested to enter the pilot stage of the tender, bringing the current total number of Cyan partners at this stage in the process to four.
“All indications are that Cyan's partners are in a very strong position and we look forward to updating shareholders with further developments when we can."
Companies bidding for the tender have to demonstrate the suitability of their meters in terms of performance, communication and networking capabilities.