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July 19, 2023

Cybeats to Support the U.S. Administration’s New ‘U.S. Cyber Trust Mark’, Enhancing Cybersecurity Transparency for Smart Devices

TORONTO, July 19, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT, OTCQB: CYBCF) is pleased to announce that on July 18, the White House released a statement that included the introduction of the ‘U.S. Cyber Trust Mark’, a labeling program on smart devices (IoT) that is a significant step toward enhancing cybersecurity transparency for all businesses, governments and citizens. This move further validates the global push toward software transparency and the adoption of SBOM (Software Bill of Materials).

The White House announced the launch of the U.S. Cyber Trust Mark program alongside the FCC,[1] which will allow Americans to confidently identify which connected devices meet the U.S. Government’s cybersecurity requirements and those devices which are less vulnerable to cyberattacks.[2] It is estimated that there are 16 billion active IoT devices in 2023.[3] Cybeats, alongside other industry leaders, have been engaged by OpenPolicy to support the Administration’s new transparency initiative. This White House announcement exemplifies some of the industry forces that have been driving the commercial momentum and interest in the Cybeats’ SBOM Studio platform.

“At Cybeats, we passionately believe in empowering consumers and governments with transparency into the software risks of connected devices. Understanding the ingredients that comprise the products we rely on in today's interconnected world is crucial for informed decision-making. The Administration's commitment to enhancing security measures in IoT products, promoting measurability, and transparency in device security, as well as advocating for user awareness and manufacturer accountability, resonates deeply with our core values and mission,” Yoav Raiter, CEO, Cybeats.

“We are pleased to see the Administration's commitment to strengthening security measures in IoT products. The recognition of the critical need for enhanced measurability and transparency in device security, along with a focus on user awareness and holding manufacturers accountable, aligns perfectly with Cybeats' mission. Moreover, we are proud to have our company and technology included by OpenPolicy in an industry syndicate that is in support of the Administration's new U.S. Cyber Trust Mark, emphasizing our dedication to software transparency and the advancement of the cybersecurity industry," said Dmitry Raidman, CTO, Cybeats.

As part of OpenPolicy’s partnership with the U.S. Government and in support of public-private partnerships that elevate security, Cybeats was named among 6 other cybersecurity organizations that are committed to supporting the IoT Security labeling initiative and the broader mission of protecting users, products and the nation[4]:

“Cybeats will contribute to the Administration, the Scheme Owner and Relevant Government Partners’ technology solutions to support the measurability, assessment and enforcement of the features and controls required by the Label and product security more broadly, including by leveraging Software Bill of Materials (SBOMs) to enhance awareness and visibility into the current state of IoT devices and potential unmitigated vulnerabilities. Cybeats will share information on emerging threats (such as current state of devices deployed with known threats) and continue to work with fellow partners to develop standards and best practices for software and IoT security, and SBOM in particular in support of the label.”

OpenPolicy Partners Statement in Support of the IoT Security Labeling Initiative:

“The launch of the IoT Security Label marks a pivotal step forward in our collective journey to raise the bar on product security and equipping the ecosystem with better information on the security posture of devices and enterprises. It empowers users and businesses to take a more active role in their connected life and make better-informed decisions about their security and privacy. This is a critical pillar marking the Administration’s long-standing commitment to the security of the ecosystem and the nation, building on a decade of product security initiatives such as NIST work on IoT security baselines (NISTIR 8259), the Executive Order on Improving the Nation’s Cybersecurity and the Federal IoT Cybersecurity Improvement Act, now in implementation.”[5] [6]

This announcement follows the White House statement on July 13 which unveiled the National Cybersecurity Strategy Implementation Plan (NCSIP) that included SBOM (Software Bill of Materials) as one of the key pillars in its comprehensive approach and oversight of national cybersecurity.[7]

About OpenPolicy

In a world where future regulation drives technology markets at scale, and only selected few lobby governments - OpenPolicy[8] is the world’s first policy intelligence and engagement platform, unlocking future markets by connecting businesses of all sizes with policymakers globally, to drive advocacy more effectively. OpenPolicy’s goal is to democratize access to the most important market intelligence out there: future regulatory, government and policy action. We believe that access to policy can be powered by technology and access to markets can be powered by policy.[9] 

About Cybeats

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. The SBOM Studio platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com

SUBSCRIBE: For more information, or to subscribe to the Company’s mail list, visit: https://www.cybeats.com/investors

Contact:

James Van Staveren

Corporate Development

Phone: 1-888-713-SBOM (7266)

Email: ir@cybeats.com

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.  There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein.  The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.  The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at sedar.com.

[1] https://www.fcc.gov/

[2] https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/18/biden-harris-administration-announces-cybersecurity-labeling-program-for-smart-devices-to-protect-american-consumers/

[3] https://iot-analytics.com/number-connected-iot-devices/

[4] https://www.youtube.com/watch?v=odaklOk1G8I

[5] https://openpolicygroup.com/news-and-events#027712a9-8697-4056-8fd2-60a3292c5a85

[6] https://www.youtube.com/watch?v=h2oZ4vdkjkA

[7] https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/13/fact-sheet-biden-harrisadministration-publishes-thenational-cybersecurity-strategyimplementation-plan/

[8] https://openpolicygroup.com/

[9] https://www.linkedin.com/company/openpolicygroup/

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