January 5, 2021
TORONTO, January 5, 2021 – Scryb Inc. (“Scryb” or the “Company”) (CSE:SCYB, OTCQB: RYMDF, Frankfurt: EIY2), an applied intelligence Company, is pleased to report on an engagement with Canada’s National Automotive Parts Manufacturers 'Association Inc. (“APMA”)1, and to provide the Cybeats cybersecurity platform on Project Arrow, the all-Canadian, zero-emission connected vehicle.2
The APMA is Canada’s national association representing OEM producers of parts, equipment, tools, supplies, advanced technology, and services for the worldwide automotive industry. Its members account for 90% of independent parts production in Canada, and in 2018, they shipped over $35 billion worth of automotive parts, with over 100,000 people employed.
Cybeats' cybersecurity platform provides certainty in software from launch to legacy. Cybeats will provide cybersecurity products and advisory services to APMA and its Project Arrow to enhance component security, software development security, and software bill of materials (SBOM).
"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.
"Project Arrow is a broad collaboration of the best-in-class companies in Canada, and we are honoured to be working with the AMPA to develop Canada’s own safe and secure connected zero-emission concept vehicle," said Yoav Raiter, CEO of Scryb Inc. "We have an opportunity to use our Cybeats' platform, including the SBOM StudioTM, to incorporate high-level cybersecurity through the design phase to the final product. "We look forward to collaborating with APMA and the broader project team to deliver this landmark concept vehicle."
The APMA is currently attending the Consumer Electronics Show (CES)3, an annual trade show organized by the Consumer Technology Association(CTA). It is considered the most influential tech event in the world, hosting breakthrough technologies and global innovators. It is being held January 5-8, 2022 at the Las Vegas Convention Center in the United States, where the world's biggest brands do business and meet new partners, and the sharpest innovators hit the stage.4
APMA’s chief technical officer Fraser Dunn told Automotive News Canada that Project Arrow plans to reveal at the CES show in Las Vegas in January, 2023. Concept drawings of the car show it to be larger than a Tesla Model Y and smaller than a Model X. It will also feature large magnesium castings, inspired by the Tesla Model Y. The projected sale price of the SUV is between $40,000 and $60,000 and the engineers are also targeting at least Level 3 autonomy. As opposed to relying on battery cells from Asian suppliers like CATL, Panasonic, or SK Innovation, Project Arrow will be powered by cylindrical cells from Volta Xplore,a joint venture between Martinrea International and Montreal-based graphene firm Nano Xplore Inc.5
The APMA is leveraging its leadership position and longstanding relationships in the automotive manufacturing industry to bring together key industry and academic partners to facilitate Project Arrow.
4 https://en.wikipedia.org/wiki/Consumer_Electronics_Show
5 https://cleantechnica.com/2021/12/20/canadas-project-arrow-planned-for-2023-reveal/
The partners are working together to design, engineer and build a connected autonomous
zero-emissions concept vehicle with a digital copy, to be used as a virtual platform for testing and validating connected and autonomous technologies before they are integrated into the physicalcar.
Project Arrow is positioned to lead the transformation of Canada’s automotive sector from traditional fuel vehicle development to zero-emission vehicle development, while showcasing the capabilities of the Canadian automobility and digital technology sectors to compete on the global stage. The project will also help to create a robust electric vehicle supply chain in Canada, increasing Canada’s domestic electric vehicle development capacity in everything from electric powertrains and connected autonomous vehicle systems to battery production.
In October2020, the 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 and autonomous and light-weight technology companies. As the North American market enters a nonautomotive 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 a goal to establish a more value-added, technology-centered foundation to drive a new age of automotive. The initiative will promote investments from OEMs Canada and beyond to develop next generation products and technologies within the Canadianauto tech ecosystem. For more information visit: https://projectarrow.ca.
About APMA
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 employment level was over100,000 people. For more information visit https://www.apma.ca.
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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
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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 time 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 should 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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