IMC Newsdesk

Fornetix secures million of smart meters for ADD-Bulgaria

  • August 24, 2020
  • Steve Rogerson

Maryland security company Fornetix is to provide encryption management for ADD-Bulgaria on millions of IoT-based smart meters in Eastern Europe.
 
ADD-Bulgaria is a technology company providing intelligent products for remote data transfer, analysis of information and management of smart meters in Eastern Europe. Fornetix’s VaultCore key management product meet the requirements needed for securing millions of smart meters.
 
VaultCore not only provides scalability, but also meets compliance requirements as directed by the Prime Alliance, which oversees the interoperable standards for advanced meter management and smart grids in Europe.
 
VaultCore will be deployed for encryption key management of more than 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 security for connected devices to our customers in Europe,” said Alexandar Dikarlo, sales director at ADD-Bulgaria.
 
ADD-Bulgaria focuses on a turnkey offering for its customers since its establishment in 2006. A complete end-to-end system of an MDM, data concentrators and meters is designed according to the users’ needs and requirements.
 
ADD has attracted some of the most important players on the energy arena as its partners, suppliers and customers. This project with Fornetix will enable it to provide security that meet personally identifiable information (PII) regulations such as the GDPR. Since energy data are considered private and, in some cases, PII, they 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,” said Mark Gilroy, CEO of Fornetix. “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.”
 
Fornetix will address testing, delivery and implementation of a system for automated and dynamic management of cryptographic materials with capacity up to 100 million keys. The key distribution system was integrated into the existing smart metering on the territory of the utility company.
 
This is a massive, central programme that came together between ADD-Bulgaria and Fornetix after a few years of working together to ensure the best possible security for the implementation of smart metering for electricity, water, gas, and street lighting in Eastern Europe.
 
VaultCore is a simplified, automated and secure encryption key management system designed to address security problems arising from the proliferation of IoT, big distributed networks and rapid cloud adoption.
 
ADD-Bulgaria offers turnkey technology for remote management of connected devices, data transfer and data analysis for the energy and industrial sector.