7 Jul 2021 07:00
7 July 2021
Catenae Innovation PLC
("Catenae" or the "Company", the "Group")
Pilot programme with a charity
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that its subsidiary, Hyperneph Software Limited ("Hyperneph"), has developed a cloud-based platform and mobile app that is being used with a charity working in conjunction with public sector organisations. The agreement is for a period of up to 12 months and is currently on trial in a major UK city.
The mobile app enables Hyperneph's customer to introduce an individual to a service provider and subsequently tracks the progress of their initial engagement, whilst respecting the privacy and rights of the person under the UK's GDPR legislation.
The initial contract value is £12,500 which has been paid to Hyperneph. If the project is 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 the Company.
Guy Meyer, Chief Executive Officer of Catenae, said: "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.
"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 sixty-eight Metropolitan boroughs in England alone and this service is designed to operate on a borough-by-borough basis.
"We look forward to keeping the market updated on our progress."
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This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Chief Executive Officer of the Company and the Directors of the Company are responsible for the release of this announcement.
For further information please contact:
Catenae Innovation PLC | +44 (0)191 580 8545 |
Guy Meyer, Chief Executive Officer |
Cairn Financial Advisers LLP (Nominated Adviser) | +44(0)20 7213 0880 |
Liam Murray / Jo Turner | |
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Brandon Hill Capital Limited, Broker | +44 (0)20 3463 5000 |
Andy Gutmann |
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Yellow Jersey PR (PR & IR) | +44 (0)20 3004 9512 |
Sarah Hollins / Annabel Atkins / Matthew McHale |
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. Catenae use the power of blockchain to deliver solutions where its people-centric technology enables trust and certainty allowing organisations to gain better control over their operations, manage staff and safely welcome customers.
www.catenaeinnovation.com