Geneva, Switzerland: WISeKey International Holding Ltd. (WISeKey) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company, announced today that it has been selected by a major drone manufacturer to bring its decades of expertise in digital security into the Company's newly designed drones. This agreement is a significant achievement for WISeKey and further illustrates how its security can help global corporations fulfil the latest international regulations about cybersecurity. From drone inflight control systems down to infrastructure, from WISeKey's VaultIC407 through the Company's Public Key Infrastructure (PKI) and blockchain technologies, solutions exist to guarantee the safety of drone flights.
In January 2020, Technavio released its Global Commercial Drones Market 2020-2024 report showing that this market is poised to grow by USD20.39bn during 2020-2024, progressing at a CAGR of 36% during this period. For years, the drone market was in a nascent phase mostly limited to leisure applications. The situation changed in 2016, when various branches of industry realized how UAVs could bring efficiency. Applications are now mature: last mile delivery of packages, optimization of fertilizer or insecticide spreading, public safety and inspection of pipelines or buildings are no longer science fiction.
While the number of flying drones is increasing, so does the risks such as collision, hacking and infringement of regulations, in particular penetration into restricted or even forbidden areas. Laws are getting more restrictive to impose a full control over pilots, drones and flight paths.
We are thrilled to sign this multi-year / multi-million-dollar contract with a global drone manufacturer, our first contract in this segment. This agreement is a validation of our solid reputation for securing digital identity of people and objects, protecting firmware and also sensitive data at rest or in transit, and at the same time securing the confidentiality and reliability of data through any connection; these business practices have been part of the foundation of WISeKey's core business for decades, stressed Carlos Moreira, WISeKey's Founder and CEO. Those are also the same technologies which are requested by drone makers to help them easily fulfil the laws and boost their revenue.
WISeKey has designed a complete set of technologies to secure the drone systems from end-to-end:
- WISeKey's VaultIC407 secure element is added to the drone or to the remote control main microprocessor, or a secure enclave of this microprocessor is based on WISeKey's proven security Intellectual Properties (IPs). This is a reliable solution to secure and prove the drone's digital identity. This also protects data and firmware against compromising when stored in the drone or in transit.
- WISeKey's VaultIC186 is affixed to the battery packs to prove their authenticity, protect the user's investment against damages, and protect manufacturer's revenue.
- WISeKey's VaultiTrust service for secure data generation and injection into secure elements is at the heart of the complete system. It provides any drone or remote control with a strong digital identity.
- On the infrastructure server side, the key elements are WISeKey's Public Key Infrastructure (PKI) based on the OISTE Foundation Root-Of-Trust and WISeKey's blockchain technology. Both are used to securely register pilots and drones. They also secure the storage of drones' tracking data that can be used at any time to prove any infringement.
Want to know more about WISeKey's Security for drone's applications? Please visit our website: https://www.wisekey.com/solutions/connected-security/.
About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today's Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey's Swiss based cryptographic Root of Trust (RoT) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Press and investor contacts:
| WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 [email protected] |
WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 [email protected] |
Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
