Multimillion pound investment bolsters smart energy security

Security

by Duncan MacRae| 23 June 2014

The cash boost will help deal with increasing cyber security challenges faced by smart energy companies and their customers.

Global infosec firm MWR InfoSecurity has received a multimillion pound investment from the Environmental Technologies Fund to address increasing cyber security challenges faced by the smart energy sector.

MWR InfoSecurity, the only independent company in the UK Government's Cyber Incident Response (CIR) scheme, has a dedicated team of incident responders and cyber defence consultants constantly helping some of the UK's largest companies address the latest cyber security threats.

The investment will enable the company to develop its existing software products and services and invest in specialist research on the threats faced by the growing smart energy sector. It will also support MWR's established work in other key areas and to protect critical assets such us information networks and systems within the financial and government sectors.

Ian Shaw, MD of MWR InfoSecurity, said: "One area that is becoming increasingly important to us is the energy sector, as we strive to help utilities and infrastructure providers secure their networks, smart grids, remote energy generation facilities, smart meter and home automation sites.

"We are building on our experience in areas such as smart grid technologies that enable a more energy efficient future, but at the same time bring new challenges in terms of security."

Shaw added: "The Environmental Technologies Fund has solid ethical credentials, which are in line with our approach. Our core business is to help our leading corporate customers ensure that they are well protected as we seek to address their security challenges. That will continue to be our focus."

Rob Genieser, partner with the Environmental Technologies Fund, said: "With this new financing, MWR will have the resources to bring to the market a number of new products in the rapidly evolving security sector, based on their unparalleled understanding of their clients' needs.

"Building off a strong existing customer base, we are very pleased that the Company will devote substantial resources to tackle security issues that arise from the new green and distributed energy network."

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