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 enteredinto the automotive security industry with the announcement of a partnership with APMA1,Canada’s national association representing OEM producers of parts, equipment, tools, supplies, advancedtechnology, and services for the worldwide automotive industry. The global automotive security industryis a crucial market for Cybeats enterprise products given the growingneed for solutions that manage the potential vulnerabilities of an estimated one billion linesof software code in some autonomous vehicles.
Related to the Company’s APMA Partnership, Cybeatsis providing its cybersecurity platformto the
all-canadian,zero-emission connected vehicle, Project Arrow2, which has notablybeen supported by the Premier of Ontario, Doug Ford3, with the Provinceof Ontario announcing a $500M boostto build electricvehicles and a plan to build 400,000electric cars by 2030. The build-phase for Project Arrow is scheduledto begin in June 2022 and expectedto be completed in Decemberof 2022.
“Every modern electrified vehiclehas a dramatically larger digitalfootprint than the internal combustion engine platform it replaces. The integrity of that footprintmust be a foundational element of vehicle designand we are excited to work with Cybeats to ensure the Project Arrow conceptvehicle serves as a prime exampleof this vision,” said Flavio Volpe, President of APMA.
“In the Automotive and adjacent automotive supply sectors, both SBOMand software supply chain securityare critical to businesses and governments, from a National Security and ageopolitical perspective. CybeatsSBOM Studio enterprise product suite is poised to play an instrumental role,offering a one-of-a-kindsoftware supply chain management platform for the Automotive sector, andproviding certainty in software,” saidYoav Raiter, CEO, Scryb Inc.
In addition to the partnershipwith 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 relatesto the 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, and more. The Company will continue to focus attentionon the industry and reporton developments relatedto these engagements as they arise.
Cybeats recently hosted a Live Webinaron the Automotive Supply Chainon April 12, which featuredguest panelists from the automotive security industry:
● Faye Francy5 - ExecutiveDirector 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 moderatedby Evgeniy Kharam9, VP, Cybersecurity SolutionArchitecture at HerjavecGroup10.
To view the recording on YouTube, please visit: https://www.youtube.com/watch?v=hVjRUX962UM
Recently, the Province ofOntario announced a $500M boost to build electric vehicles and a plan to build 400,000electric cars by 2030.11 “We’rebuilding on our province’s long tradition of automotive excellence and investing to lead the electric vehiclerevolution,” said Doug Ford, Premierof Ontario.12
Today, cars have more than 100million 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. Code developed for these vehicles also includesopen source, which is why the requirement for SBOM is critically important for all software components running intoday’s vehicles.13 The two new UNRegulations, adopted by UNECE’s World Forum for Harmonization of VehicleRegulations cover identifying,assessing and monitoring cyber risks, including security by design, andproviding safe and secure softwareupdates. As of January 2021, UN Regulations, WP.29, on Cybersecurity andSoftware Updates have become a requirement.14
In the automotive industry,Software transparency in both hardware and software is not always readily available. For example, consumerelectronics companies and automotive OEMs may struggle to provide transparency either due to a logisticalchallenge as a vehicle may consist of hundreds of thousands of parts, or it is kept secret, as theproduct components and processes are seen as core competitive advantages. As such, a connected car could containvulnerable hardware or software, and the consumer, driver or the OEM purchaser may not know the risks.
An SBOM is a record of allsoftware 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 SBOMis the nutritional ingredients list found on everyday food products, such as a can of coke. A Coca Cola ingredient list includes informationthat can be used to gauge allergy risk, expiry dates, and other food safety information. Just as food products are mandated to provide this list to consumers, SBOM is quicklybecoming a similarstandard in the software industry.
The Whitehouse signed anexecutive order in May 2021 stipulating that all vendors responsible for supplying software to federal agenciesmust provide an SBOM. Organizations and governments are growing more awareof the importance of softwaresupply chain security. Many regulations take effect in andaround August 2022, and others are to follow thereafter. It is anticipated thatSBOM will become a global standardacross industries.
Cybeats SBOM Studio gives access toone-of-a-kind tools to manage SBOM needs and software vulnerabilities, and providesproactive mitigation of risks to their softwaresupply chain. Key product featuresinclude:
● SBOM document management and repository
● Vulnerability, threat insights,risk management
● Software licenseinfringement alerts
● SBOM exchange with regulatory authorities, at reducedcost
The Company is not making any expressed or explicit claims that the agreement discussedherein has, or willnecessarily lead to, commercial engagements that involve financial orcommercial revenues for any Cybeats productlines or for Scryb Inc.
APMA of Canadalaunched the first, original, full-build, zero-emission concept vehicle namedProject Arrow. The all-Canadianconcept vehicle is to be designed, engineered and built through the jointefforts of the world-classautomotive supply sector and post-secondary institutions in Canada. Answeringthe federal government’s call for a Zero-Emissions future by 2050, Project Arrow brings togetherthe best-in-class of Canada’selectric-drive, alternative-fuel, connected and autonomous and light-weight technology companies. As the NorthAmerican 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-classautomotive supply sector by bringing together Canada’s Tier 1 supply chain, auto-tech SMEs and academicinstitutions.
Project Arrowbuilds on the success of Canada’s auto sector in advanced manufacturing with agoal to establish a more value-added,technology-centered foundation to drive a new age of automotive. The initiative will promote investments from OEMsCanada and beyond to develop next generation products and technologies within the Canadianauto tech ecosystem. For more information visit: https://projectarrow.ca.
The APMA isCanada’s national association representing OEM producers of parts, equipment,tools, supplies, advancedtechnology, and servicesfor the worldwide automotive industry. The Association was foundedin 1952 and its members account for 90% of independent parts production inCanada. In 2018, automotive partsshipments were over $35 Billion, and the industry employment level was over100,000 people. For more information visit https://www.apma.ca.
RECENT NEWS: Cybeats recently appointed Bob Lyle, cybersecurity industry leader, as Chief RevenueOfficer. To read the full story: https://bit.ly/3r8AMTz
Cybeats delivers intelligentsecurity 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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Forward-looking Information Cautionary Statement
Except forstatements 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 wordssuch as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similarwords, or statements that certain eventsor conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements aremade, and are subject to a variety of risks and uncertainties and other factors that could cause actual events orresults 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 inherentin forward-looking information, including factors beyondthe Company’s control.
There areno assurances that the commercialization plans for the technology described inthis news release will come into effect on the terms or time frame describedherein. The Companyundertakes no obligation to update forward-looking information if circumstancesor management's estimates or opinions should change except as required by law. The reader is cautionednot to place undue reliance on forward-looking statements. Additional information identifying risks anduncertainties that could affect financial results is contained in the Company’s filingswith Canadian securities regulators, which filingsare available at www.sedar.com
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