6 Dec 2018 07:00
Catenae Innovation Plc: Contract and Product Update
CATENAE INNOVATION PLC("Catenae" or the "Company")
Contract and Product Update
Catenae (AIM:CTEA), the AIM quoted provider of digital media and technology announces it has signed its first contract for a solution utilising its blockchain technology. This agreement is with STM Security UK Ltd (“STM”) who have been customers of the Company since 2013. STM is a UK based security company and a supplier of manned security solutions and customer service staff, providing professional, trained and licensed personnel throughout the UK.
Under the terms of the contract Catenae will supply STM with OnGuard Plus, a business management solution which was specifically developed for the security industry. It utilises mobile and cloud technologies to support the administrative, operational and financial functions of the manned guarding sector. The integration of Catenae’s Sequestrum distributed ledger technology provides clients with the ability to store critical and regulatory reports in an immutable form within the Sequestrum repository providing auditable proof of both the existence of the report as well as its original content. Revenue is generated via an annual ‘in advance’ licence fee as well as a transaction fee on a ‘per report’ basis.
Sequestrum Update – Catenae has recently completed final testing of Sequestrum, Catenae’s Distributed Ledger technology digital repository running on the Hyper Ledger Blockchain platform. This recent technical development opens up the opportunity for Sequestrum to be run on the client’s choice of Blockchain platform, significantly broadening its potential application.
OnSite – The Company announces the launch of its management and inspection platform - OnSite. This product has been developed specifically for the construction industry. The product provides the ability for companies to manage and schedule their workforce and provides a universal inspection and reporting tool that can be adapted to meet the regulatory reporting standards for this industry. The integration of Sequestrum ensures that inspection reports are stored in an immutable form directly from the mobile input device, recording the geo-coordinates of the device and centralised timestamping as meta data for full auditability.
We hope to make further announcements on further commercial agreements in the near future.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Tony Sanders (Chief Executive Officer).
For further information:
| Catenae Innovation PLCTony Sanders | Tel: 020 7929 7826 |
| Cairn Financial Advisers LLP, Nominated Adviser Liam Murray / Jo Turner | Tel: 020 7213 0880 |
| Alexander David Securities Limited, Broker David Scott / James Dewhurst | Tel: 020 7448 9820 |