April 14, 2022
TORONTO,April 14, 2022 – Scryb Inc. (“Scryb'' or the “Company”) (CSE: SCYB, OTCQB:SCYRF, Frankfurt: EIY), is pleasedto provide an update on Cybeats’ cybersecurity activities related to the automotive industry.
Early this year, the company entered the automotive security industry with the announcement of a partnership with APMA1, Canada’s national association representing OEM producers of parts, equipment, tools, supplies, advanced technology, and services for the worldwide automotive industry. The global automotive security industry is a crucial market for Cybeat's enterprise products, given the growing need for solutions that manage the potential vulnerabilities of an estimated one billion lines of software code in some autonomous vehicles.
Related to the Company’s APMA Partnership, Cybeats is providing its cybersecurity platform to the
all-canadian, zero-emission connected vehicle, Project Arrow2, which has notably been supported by the Premier of Ontario, Doug Ford, with the Province of Ontario announcing a $500 million boost to build electric vehicles and a plan to build 400,000 electric cars by 2030. The build phase for Project Arrow is scheduled to begin in June 2022 and is expected to be completed in December 2022.
"Every modern electrified vehicle has a dramatically larger digital footprint than the internal combustion engine platform it replaces." "The integrity of that footprint must be a foundational element of vehicle design, and we are excited to work with Cybeats to ensure the Project Arrow concept vehicle serves as a prime example of this vision," said Flavio Volpe, President of the APMA.
"In the automotive and adjacent automotive supply sectors, both SBOM and software supply chain security are critical to businesses and governments, from a national security and geopolitical perspective. "Cybeats SBOM Studio enterprise product suite is poised to play an instrumental role, offering a one-of-a-kind software supply chain management platform for the automotive sector and providing certainty in software," said Yoav Raiter, CEO, Scryb Inc.
In addition to the partnership with APMA, the company has engaged a multi-billion-dollar automotive technology company from the S&P 500, which is in the business of vehicle electronics, systems, modules, and components. The engagement relates to Cybeats’ enterprise cybersecurity product suite, SBOM Studio, which is a software supply chain risk management product that is used for SBOM (software bill of materials) document management, repository management, and more. The company will continue to focus attention on the industry and report on developments related to these engagements as they arise.
Cybeats recently hosted a Live Webinar on the Automotive Supply Chain on April 12, which featured guest panelists from the automotive security industry:
● Faye Francy5 - Executive Director at Automotive ISAC (Auto-ISAC)
● Ikjot Saini6, PhD - Co-Director at SHIELD Automotive Cybersecurity Centre of Excellence at the U of Windsor
● Robert Kaster7- North America Cross-Division Cybersecurity at Robert Bosch LLC8
● The webinar was moderated by Evgeniy Kharam9, VP, Cybersecurity Solution Architecture at HerjavecGroup10.
To view the recording on YouTube, please visit: https://www.youtube.com/watch?v=hVjRUX962UM
Recently, the Province of Ontario announced a $500M boost to build electric vehicles and a plan to build 400,000electric cars by 2030.11 “We’re building on our province’s long tradition of automotive excellence and investing to lead the electric vehicle revolution,” said Doug Ford, Premier of Ontario.12
Today, cars have more than 100 million lines of code, and this does not count autonomous self-driving vehicles. The latest estimates predict there will be one billion lines of code in autonomous vehicles. The code developed for these vehicles also includes open source, which is why the requirement for SBOM is critically important for all software components running in today’s vehicles. 13 The two new UN regulations, adopted by UNECE’s World Forum for Harmonization of Vehicle Regulations, cover identifying, assessing, and monitoring cyber risks, including security by design, and providing safe and secure software updates. As of January 2021, UN Regulation WP.29 on Cybersecurity and Software Updates has become a requirement. 14
In the automotive industry, software transparency in both hardware and software is not always readily available. For example, consumer electronics companies and automotive OEMs may struggle to provide transparency either due to a logistical challenge (a vehicle may consist of hundreds of thousands of parts) or because it is kept secret because the product components and processes are seen as core competitive advantages. As such, a connected car could contain vulnerable hardware or software, and the consumer, driver, or OEM purchaser may not know the risks.
An SBOM is a record of all the software components that make up a product. It is a complete, formally structured list of components, libraries, and modules that are included in the software. An analogy for SBOM is the nutritional ingredients list found on everyday food products, such as a can of coke. A Coca-Cola ingredient list includes information that can be used to gauge allergy risk, expiration dates, and other food safety information. Just as food products are mandated to provide this list to consumers, SBOM is quickly becoming a similar standard in the software industry.
The White House signed an executive order in May 2021 stipulating that all vendors responsible for supplying software to federal agencies must provide an SBOM. Organizations and governments are becoming more aware of the importance of software supply chain security. Many regulations take effect in and around August 2022, and others are to follow thereafter. It is anticipated that SBOM will become a global standard across industries.
Cybeats SBOM Studio gives access to one-of-a-kind tools to manage SBOM needs and software vulnerabilities, and provides proactive mitigation of risks to their software supply chain. Key product features include:
● SBOM document management and repository
● Vulnerability, threat insights, risk management
● Software license infringement alerts
● SBOM exchange with regulatory authorities, at reduced cost
The Company is not making any expressed or explicit claims that the agreement discussed herein has, or will necessarily lead to, commercial engagements that involve financial or commercial revenues for any Cybeats product lines or for Scryb Inc.
APMA of Canada launched the first original, full-build, zero-emission concept vehicle named "Project Arrow." The all-Canadian concept vehicle is to be designed, engineered, and built through the joint efforts of the world-class automotive supply sector and post-secondary institutions in Canada. Answering the federal government’s call for a zero-emissions future by 2050, Project Arrow brings together the best-in-class of Canada's electric-drive, alternative-fuel, connected, autonomous, and light-weight technology companies. As the North American market enters a new automotive era focused on "ACES" (autonomous, connected, electric, shared), Project Arrow is a lighthouse initiative that showcases the capability of Canada’s world-class automotive supply sector by bringing together Canada’s Tier 1 supply chain, auto-tech SMEs, and academic institutions.
Project Arrow builds on the success of Canada’s auto sector in advanced manufacturing with the goal of establishing a more value-added, technology-centered foundation to drive a new age of automotive. The initiative will encourage OEMs in Canada and elsewhere to invest in developing next-generation products and technologies within the Canadian auto tech ecosystem. For more information, visit https://projectarrow.ca.
The APMA is Canada’s national association representing OEM producers of parts, equipment, tools, supplies, advanced technology, and services for the worldwide automotive industry. The Association was founded in 1952, and its members account for 90% of independent parts production in Canada. In 2018, automotive parts shipments were over $35 billion, and the industry's employment level was over 100,000 people. For more information, visit https://www.apma.ca.
RECENT NEWS: Cybeats recently appointed Bob Lyle, a cybersecurity industry leader, as Chief Revenue Officer. To read the full story, visit https://bit.ly/3r8AMTz.
Cybeats delivers intelligent security applications for software supply chains and IoT-connected devices, autonomously detecting and eliminating cyber risks from design to operation. Cybeats—Software Made Certain Website:www.cybeats.com
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Scryb is a platform that powers businesses and technologies with applied intelligence, real-time analytics, and actionable insights. The platform boasts proven adaptability across diverse markets, from digital health and diagnostics to cybersecurity and manufacturing. The cloud-based platform is composed of crucial elements including sensor technology, IoT, predictive analytics, and computer vision.
For more information, please visit our website at: http://scryb.ai.
W. Clark Kent, president
forward-looking information and 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 characterised 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, 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 technology described in this news release will come into effect on the terms or timeframe described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.
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