Cybeats Signs Groundbreaking Cybersecurity Agreement; Entering a new sector with one of the world’s largest water technology companies

TORONTO, May 30, 2024 /CNW/ – Cybeats Technologies Corp. (“Cybeats” or “Company”) (CSE: CYBT) (OTCQB: CYBCF), industry-leading cybersecurity software company, is pleased to announce a SaaS (“software as a service”) agreement with one of the world’s largest U.S. water technology providers with over $30 billion market capitalization and operates in over 150 countries.

The new contract follows warnings issued this month by the president Joe Biden and to top officials about increasing cyberattacks on U.S. water infrastructure by state-sponsored foreign entities.¹ With increased risk for U.S. entities – such as new customer Cybeats – organizations are now looking for cybersecurity solutions that increase the protection of critical systems.² ON 20th of Mayin the U.S., the Environmental Protection Agency (EPA) has issued an alert regarding urgent cybersecurity threats and vulnerabilities in drinking water systems, while the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) is also strengthening defenses of the nation’s water system, which have been targeted with increased frequency and severity to the point that additional action by industry is not optional.³

“The water infrastructure sector presents enormous opportunities for our growth, driven by increasing regulatory emphasis on software transparency through SBOM. Industry regulators and companies alike now recognize the critical need for increased software transparency. SBOM Studio offers a comprehensive solution that addresses the pressing cybersecurity challenges and operational requirements facing the industry” he said Justin LegerCEO of Cybeats.

Cybersecurity solution from Cybeats

Cybeats product, Studio SBOM, revolutionizes the handling of vulnerabilities in open source software and third-party software components that make up over 80% of modern applications⁴—for one platform. By streamlining and automating your prioritization and remediation processes and moving away from the outdated, cumbersome practice of using 50 to 100 spreadsheets a day, Studio SBOM enables customers to better understand security threats and eliminate them. Cybeats meets the needs of a diverse customer base and is an industry pioneer with the most comprehensive product offering for storing, enriching and distributing software bills of material (SBOM) at scale.⁵

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Cybersecurity attacks on water infrastructure

The Biden administration recently issued a warning regarding the increasing frequency and severity of cyberattacks targeting water utilities around the world United States. The Environmental Protection Agency (EPA) highlighted that approximately 70% of the utilities it inspected violated standards intended to prevent such violations. Environmental Protection Agency⁶ Stresses the urgent need to protect information technology and process controls to prevent potential disruptions in water treatment, damage to infrastructure and dangerous changes in chemical levels.⁷

Regulations and requirements for public utility service providers

NERC CIP⁸ (North American Electric Reliability Corporation Critical Infrastructure Protection) is a set of requirements and compliance standards designed to increase the reliability and security of the power grid by identifying and protecting critical cyber assets that, if breached or destroyed, could impact grid operations.

ISA 62443⁹ The standards provide a structured framework for addressing and mitigating security vulnerabilities in industrial automation and control systems (IACS). These standards are used around the world, are intended to provide a common language and best practice, and apply to many sectors, including manufacturing, power generation, water treatment and other industries that rely heavily on automation and control systems.

Executive Order No. 14028¹⁰ strengthens U.S. cybersecurity through several key measures, including mandating the development of standards such as software bill of materials (SBOM) to provide more transparent software supply chain security, intended to enhance national security and address the evolving cyberthreat landscape.

Recent briefing of the U.S. President’s Council of Advisors on Science and Technology (PCAST). February 2024 Highlights the importance of software bills of material (SBOM) for industrial and utility control systems due to their key role in enhancing cyberphysical security. SBOMs provide needed transparency, enabling these companies to better identify and manage vulnerabilities, ensure compliance, and secure supply chains.¹¹ Read more about the power of SBOM and its role in building critical infrastructure resilience on the Cybeats blog, written by Dr. Georgia Shearecognized cyber expert, member of the PCAST ​​Working Group and advisor to Cybeats.¹²

Cybeats will attend the ISA OT Cybersecurity Summit 2024¹³ IN London, UK, an event dedicated to protecting operational technology in sectors such as energy, manufacturing and building automation. It will feature the latest updates to the ISA/IEC 62443 standards and provide a platform for sharing insights on security practices to improve infrastructure and data security.

About Cybeats

Cybeats is a cybersecurity company offering SBOM management and software supply chain intelligence technology that helps organizations manage risk, meet compliance requirements, and secure software from acquisition to development and operations. Our platform provides customers with end-to-end visibility and transparency across their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Safe software. Website: https://cybeats.com

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Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or statements that particular events or conditions ” maybe” or “will”. Forward-looking statements are based on opinions and estimates as of the date they are made and are subject to various risks, uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. statements, including, but not limited to, delays or uncertainties in regulatory approvals, including those issued by the CSE. Forward-looking information is subject to uncertainties, including factors beyond the Company’s control. There can be no assurance that plans to commercialize the products described in this press release will be effective on the terms or within the time frames 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. Company documents are available at sedarplus.ca.

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SOURCE Cybeats Technologies Corp.

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