HOUSTON (January 10, 2018) - IronClad Encryption Corporation (OTCQB: IRNC) today announced it has partnered with Black Pearl Engineering Management Inc., a Texas company, to co-develop ultra-secure products based on IronClad’s patented ultra-secure cybersecurity algorithms and methodologies. The joint venture will operate under the name "Black ICE" and will initially focus on network gateway products.
The Black ICE Programmable Logic Control (PLC) / Network Gateway product line specifically targets the Industrial Control System security market. Recently, market research firm Markets and Markets announced its expectations for the segment to grow from $10.24 billion in 2017, to $13.88 billion by 2022 - a Compound Annual Growth Rate (CAGR) of 6.3%.
The initial product offerings will be a powerful, ultra-secure product line for the industrial automation and energy sectors. This new product line is an intelligent management system that will integrate IronClad’s patented ultra-secure algorithms and methodologies in a package that can be easily and seamlessly integrated into an existing infrastructure.
Supporting the need for the secured products Black ICE will deliver to the market is the latest ICS-CERT Annual Assessment Report for FY 2016 that states, “Cyber incidents at home and abroad in FY 2016 highlighted the continued and significant risks associated with cyberattacks on industrial control systems (ICS).” The Industrial Control Systems Cyber Emergency Response Team (ICS-CERT) is part of the US Department of Homeland Security and is tasked with reducing risks within and across all critical infrastructure sectors, and coordinating efforts among governmental agencies and international control systems owners, operators, and vendors.
The Black ICE PLC / Network Gateway product will provide an ultra-secure solution for existing automation environments that is functionally compatible with and easily integrated into various industry ICS environments. Gateway units will be installed at critical entry access points in PLC systems to mitigate cybersecurity threats to industrial and energy customers' digital infrastructure, and automation and control systems. The Black ICE PLC / Network Gateway also reduces the risk of malicious and inadvertent insider threats, including unauthorized access by untrained technicians. With the Black ICE PLC / Network Gateway, unauthorized parties cannot gain access to critical infrastructure components and interfere with their operation, thus lowering overall system, network and physical infrastructure risk significantly.
“Industrial control systems and networks around the world are vulnerable to various types of cyberattacks and resulting damages. The IronClad and Black Pearl partnership allows for a new breed of ultra-secure products to be available to customers that are currently exposed to high risk,” said David Smith, Black Pearl Engineering’s President and Chief Executive Officer. “Securing networks and maintaining data integrity are key priorities for industrial and energy companies, and our products will provide a higher level of security and peace of mind than what the market has previously been able to offer.”
The new Black ICE PLC / Network Gateway product line will make it easy to lock down nearly all remote PLC control systems, including individual control nodes, without modifications to legacy software.
“Hackers are successfully breaching energy companies and infrastructure,” said J.D. McGraw, Chief Executive Officer of IronClad Encryption. “To keep pace with the evolving threats, those organizations need better protection than current security mechanisms provide. The Black ICE PLC / Network Gateway will directly address that requirement without disrupting business operations or existing technology ecosystems.”
About IronClad Encryption Corporation:
Ironclad Encryption Corporation is a next-generation cyber defense company that secures digital assets and communications across a wide range of industries and technologies. IronClad Encryption-powered solutions utilize our patented Dynamic Encryption and Perpetual Authentication technologies to make all known key-based encryption technologies virtually impossible to compromise. Dynamic Encryption Technology eliminates vulnerabilities caused by exposure of any single encryption key by continuously changing encryption keys and keeping the keys synchronized in a fault-tolerant manner. Perpetual Authentication Technology uses multiple virtual channels for encryption so that in the event one channel is compromised, the other channels maintain encryption integrity. Together, these technologies not only eliminate the single point of failure problem created by having keys exposed through brute force, side channel, or other types of attack, but do so with very low latency and system performance overhead. Developers, MSPs, MSSPs, and IT organizations can now easily and effectively integrate ultra-secure authentication and encryption measures across essentially all mediums. This includes the latest processors and operating systems, legacy hardware and software, within or between networks, and on compartmentalized data or entire databases. At rest or in-motion, IronClad Encryption ensures data remains safe, secure and uncompromised.
Visit IronClad Encryption at www.ironcladencryption.com
About Black Pearl Engineering:
Black Pearl Engineering Management Inc. is a Texas-based technology and product development company. The Black Pearl Engineering team has decades of experience in both security and encryption technologies, software development, system design, and commercial product development. Black Pearl Engineering is headquartered in The Woodlands, Texas, and offers advanced engineering services and cutting-edge product development to customers in the U.S. and internationally.
Visit Black Pearl Engineering at www.blackpearlengineering.com
This press release may contain forward-looking statements that involve substantial risks and uncertainties. The information included in this release should not be used for investment purposes because statements of intent or projections of financial performance are based on assumptions that can change. In addition, events or circumstances may arise that we can neither anticipate or control. Therefore, any statements of intent or predictions of financial performance are valid only on the date of this press release. We undertake no obligation to update or revise publicly any forward-looking statements, except as required by law.
Halliburton Investor Relations
Tom Carey or Geralyn DeBusk