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Be the first with the news that moves the market- Plurilock Security (PLUR) has successfully completed the first milestone of its U.S. Department of Homeland Security contract
- Under the contract, the company is developing and refining new machine-to-machine authentication and security technologies
- Plurilock achieved the milestone by meeting goals for optimising, transitioning, and preparing the technology
- The company received approximately C$92,764 under the first milestone, and is already moving on to the next one
- Plurilock Security is up 7.25 per cent and is currently trading for 37 cents per share
Plurilock Security (PLUR) has successfully completed the first milestone of its U.S. Department of Homeland Security contract.
The cybersecurity company’s contract is with the DHS Science and Technology Directorate’s Silicon Valley Innovation Program (S&T SVIP). Split across four deliverable milestones, the contract is worth approximately C$262,390 in total.
Under the contract, Plurilock is further developing and refining new machine-to-machine authentication and security technologies.
Plurilock achieved the first milestone of the project by meeting a series of goals for optimising the technology. The goals also related to transitioning the technology from a laboratory setting to a more operational posture, and preparing it for further forms of critical testing.
The company received roughly C$92,764 in funds under the first phase of the contract.
Plurilock’s CEO, Ian L Paterson, said the company’s work with DHS and the Silicon Valley Innovation Program has been incredibly productive.
“As an organisation built around machine learning and anomaly detection, it’s been exciting to watch this new technology evolve,” he said.
“SVIP has been instrumental in the progress we’ve made in this part of the cybersecurity landscape,” he added.
With the first milestone of the project met, Plurilock is already moving on to the next one. The second phase will involve passing a series of internal red team tests, which are designed to harden the technology further. The tests will also intend to bring the technology’s security profile in line with requirements for real-world pilot deployments.
Plurilock Security is up 7.25 per cent and is trading for 37 cents per share, as of 11:20am EST.
