CTEA.L Share News (CTEA)

(Sharecast News) - Digital media and technology company Catenae Innovation announced on Wednesday that its subsidiary Hyperneph Software has developed a cloud-based platform and mobile app that was now being used with a charity, working with public sector organisations.
The AIM-traded firm said the pilot agreement was for a period of up to 12 months, and was currently on trial in an unnamed "major" UK city.

It said the mobile app would enable Hyperneph's customer to introduce an individual to a service provider, and subsequently track the progress of their initial engagement, while maintaining the privacy and rights of the person under GDPR legislation.

The initial contract value was £12,500, which had been paid to Hyperneph.

If the project was successful, it could be rolled out on a wider scale across the UK, with the potential to generate recurring income for the group.

Hyperneph is a 51%-owned subsidiary of Catenae.

"Hyperneph's involvement in this pilot programme is showcasing the sophistication of the group's technology and its potential application across a wide range of industries as we diversify away from Covid-related activities to provide digital transformation services and products to a wide range of sectors," said Catenae chief executive officer Guy Meyer.

"Although we are unable to disclose further specific details of this pilot due to its confidential nature, there is potential for substantive revenue generation for Catenae given that there are 68 metropolitan boroughs in England alone, and this service is designed to operate on a borough-by-borough basis."

At 1618 BST, shares in Catenae Innovation were flat at 0.95p.