3 Jul 2020 07:00
3 July 2020
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Commercial Pilot Agreement with Afrik-ID
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology announces that it has entered into a pilot agreement with Afrik-ID (Pty) Ltd ("Afrik") to establish the commercial viability of the Company's technology products in Botswana and across the Southern African Development Community (SADC). Afrik is a newly incorporated company in Botswana, wholly owned by David John Newman, the former Botswanan ambassador to USA, Canada and the Caribbean.
Based on the use of Catenae's secure blockchain-based identity technology, Afrik-ID's potential service offerings could enable organisations, businesses and individuals to share certification and identity information via mobile phones in a secure manner. Afrik-ID's solutions could be deployed in a variety of sectors including construction, logistics, mining, sports, healthcare, human rights services, law-enforcement and travel and tourism.
Under the terms of the pilot agreement, Catenae will provide Afrik-ID with its proprietary Onsite ID and Cov-ID applications for use in Afrik-ID's sales and marketing initiative for a duration of four months. During this period, the two companies will work closely together, with Afrik-ID seeking to leverage its network and the Company's technologies across the SADC region.
Following the completion of the pilot at the end of October 2020, which is not expected to generate any revenues for the Company, a market analysis review will be undertaken to ascertain the commercial viability of deploying the Company's technologies across the region via Afrik-ID. Should this be favourable, the Company will seek to enter into a commercial arrangement with Afrik-ID.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: "We are pleased to have entered into this pilot agreement with Afrik-ID as we see potential for the use of our technologies across the wider SADC region, a community comprising of 16 member states with a combined population of over 345 million people, especially as it is seen that Africa is a highly mobile enabled continent.
"We have every confidence in the leadership team at Afrik-ID. Having worked with them over the last few months scoping this pilot we have obtained insight into the scale of the challenges that the region faces, most latterly due to the COVID-19 pandemic, along with the associated opportunities.
"The Company looks forward to informing the market of further developments with regards the Afrik-ID commercial pilot."
David Newman, Chairman and Chief Executive Officer of Afrik-ID said:
"Our team at Afrik-ID is delighted to be working in collaboration with Catenae to provide digital technology solutions for the challenges that hamper the safe, efficient and transparent movement of people and goods within and beyond our Southern African region."
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 Guy Meyer, Interim Chief Executive Officer of the Company.
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For further information please contact:
Catenae Innovation PLC | +44 (0)191 580 8545 |
Guy Meyer, Interim CEO | |
Cairn Financial Advisers LLP (Nominated Adviser) | +44(0)20 7213 0880 |
Liam Murray / Jo Turner | |
| |
Brandon Hill Capital Limited, Broker | +44 (0)20 3463 5000 |
Andy Gutmann | +44 (0)78796 8313 |
Yellow Jersey PR (PR & IR) | +44 (0)20 3004 9512 |
Sarah Hollins / Annabel Atkins |
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. The Company specialises in Distributed Ledger Technology solutions that solve commercial challenges and create opportunities for its clients. The Company has an experienced IT team of project managers and integrators who have deployed systems across corporate, government and educational sectors.
www.catenaeinnovation.com
About Afrik-ID
Afrik-ID is a 100% Botswana citizen owned technology company dedicated to bringing the best of global technology to Botswana and SADC for the benefit of the people of the region. Their vision is to bring technology-based secure identity solutions that include Health, Travel and Tourism, Logistics, Industrial, Manufacturing and Construction, Human Rights Services, Law-Enforcement and Sports to the region.
https://afrik-id.com/
About SADC (Southern Africa Development Community)
https://www.sadc.int
SADC SELECTED ECONOMIC AND SOCIAL INDICATORS, 2018
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.