FREDERICK, Md., Aug. 18, 2020 /PRNewswire-PRWeb/ -- Fornetix, LLC today announced it has commenced the launch of a central project with ADD-Bulgaria, a technology company providing intelligent solutions for remote data transfer, analysis of information, and management of smart meters in Eastern Europe. Fornetix's VaultCore was chosen as it is the only key management solution to meet all the requirements needed for securing millions of smart meters. VaultCore not only provides the scalability needed, but also meets compliance requirements as directed by the Prime Alliance who oversees the interoperable standards for advanced meter management and smart grids in Europe. VaultCore will be deployed for encryption key management of over 2.5 million smart meters.
"VaultCore's ability to easily manage hundreds of millions of keys coupled with our commitment to interoperability and compliance make this project a perfect fit, and we look forward to a long relationship with Fornetix and providing advanced secure solutions for connected devices to our customers in Europe," said Alexandar Dikarlo, Sales Director at ADD-Bulgaria.
ADD-Bulgaria focuses on offering a turn-key solution to its customers since its establishment in 2006. A complete end-to-end system of an MDM, data concentrators and meters, all designed according to the customers' needs and requirements. ADD has grown bigger, has attracted some of the most important players on the energy arena as its partners, suppliers and customers. This project with Fornetix will enable ADD-Bulgaria to provide secure solutions that meet Personally Identifiable Information (PII) regulations such as the General Data Protection Regulation (GDPR). Since energy data is considered private and, in some cases, PII, it must be encrypted to comply with EU laws.
"It is wonderful to be supporting the advancement of key solutions for the European consumers that meets GDPR and the rigorous requirements for securing smart meters. It is quite a challenging environment, but we are excited to be able to be the encryption key management provider for 1.1 million secure smart meters in Eastern Europe," said Mark Gilroy, CEO of Fornetix.
Fornetix will address testing, delivery, and implementation of a new generation system for automated and dynamic management of cryptographic materials with capacity up to 100 million keys. The key distribution system was successfully integrated into the existing Smart Metering system on the territory of the utility company.
This is a massive, central program that came together between ADD-Bulgaria and Fornetix after a few years of working together to ensure the best possible security solution for the implementation of smart metering systems for electricity, water, gas, and street lighting in Eastern Europe.
About Fornetix
At Fornetix we understand that managing encryption in today's complex environment can seem an impossible task. That is why we created VaultCore, a simplified, automated, and secure encryption key management solution designed to address security challenges arising from the proliferation of IoT, big distributed networks, and rapid cloud adoption. Our commitment to standards and interoperability enable us to join forces with leading technologies around the globe to provide smart and unified security solutions that bring order to the chaos of encryption management. For more about Fornetix visit our website and follow us on LinkedIn and Twitter.
About ADD-Bulgaria
ADD-Bulgaria offers turn-key technology for remote management of connected devices, data transfer and data analysis for the energy and industrial sector. At ADD we believe that the time and resource consuming processes of measurement and maintenance of expensive equipment can be substituted with remote, timely and smart management and monitoring solutions with one ultimate goal – to help our customers achieve greater efficiency, process optimisation and huge cost reduction.
Our experience dates back from 2006 and lies upon many projects of various type, application and complexity. We have installed and are currently supporting one of the biggest smart metering deployments in Europe, with millions of electric meters, we have realized several projects for street lights modernization and we are participating in projects for automating the electricity and water metering process in ports and marinas. For more visit the ADD-Bulgaria Website.
SOURCE Fornetix
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