"We offer innovation to guarantee data security for the electricity sector"

#cybersecurity #business

Enigmedia develops custom cybersecurity solutions, such as Mercury, to help companies solve security problems when transmitting data. Its encryption technology, which is based on chaos theory, is three times as robust and up to 95% more efficient than current encryption standards.

Gerard Vidal, CEO of Enigmedia, was at Innoday, the innovation fair organized by Iberdrola where technology firms come together at its campus in San Agustín de Guadalix (Madrid, Spain).

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Question: How did the Enigmedia project come about?

Gerard Vidal, CEO of Enigmedia: I did my doctoral thesis on the physics of chaos theory and we discovered a method to make communications secure in a very efficient way. This is especially interesting when you have low-power computing devices. Examples of low-power computing devices include thermostats, electricity meters, industrial milling machines, and turbines.

Question: How are these devices protected in the era of industry 4.0?

Gerard Vidal: In wanting to improve industry's operations in order to obtain better efficiency, better performance, basically, to save costs, industry and factories have been opened up to the internet. And this is a problem, because when a factory has been opened to the internet, it also connects the internet to the factory and exposes all the machines and all operations in the factory to the internet. And this is a cybersecurity problem. To protect them, we use our technology and our product to isolate the various machines from the internet, while keeping them connected to each other.

Question: How does your solution help companies?

Gerard Vidal: Our solution, Mercury, provides the end customer, the factory owner or the industrialist, with machines that are constantly available, that is, that are continually productive. Energy is a good, it is a basic good and the supplier is under an obligation to be able to deliver that basic good. Our mission is to help the electricity supplier to meet its fundamental obligation, which is to deliver the basic good to the end customer.

Question: How do you guarantee the reliability and ownership of the data?

Gerard Vidal: We do not focus much on personal data, which is not of interest to us, instead we focus on machine data. Imagine that you have a machine that is being exploited by various customers, those customers have access to your data, but that data is also your intellectual property, it shapes your knowledge of a product. If your know-how is stolen, your business is stolen. To safeguard your property, we use a basic tool: encryption. Encryption also allows us to guarantee that you can be certain that your data cannot be accessed by others and that it is not going to be stolen from you. It also guarantees that the data is correct and that nobody has tampered with it.

Question: What types of companies can benefit from implementing Mercury?

Gerard Vidal: We are targeting large companies that have the capacity to invest in cybersecurity and have done their homework. In other words, and this is important, it makes no sense for us to sell advanced cybersecurity to someone who does not yet have basic cybersecurity.

Question: How did you implement your project?

Gerard Vidal: This was mainly thanks to an investment round that we had with Mundi Ventures, our investment fund, which accompanied us and introduced us to a series of business advisers who told us that the industry, electricity and transport verticals were very interesting.

Question: What are Enigmedia's upcoming objectives?

Gerard Vidal: Our goal is to close the previously mentioned verticals: manufacturing, industry, electricity and transport and then attack other markets such as sensors, RFID sensors and the automotive sector.

Question: How did your relationship with Iberdrola begin and what is its basis?

Gerard Vidal: One of the world's largest players in the electricity and power grid sector is Iberdrola and the most prominent player in Spain is Iberdrola. The first thing, as a Spanish company, was to contact them through Perseo to see whether it would make sense to use this product in the field of electricity grids and, thanks to our collaboration with them, we have decided to enter this vertical, in this market. Our relationship with Iberdrola is based on a collaboration with the Innovation and Corporate Security departments, as well as with the different business lines. If not for this introduction, we would not have had direct knowledge of the market, which is very valuable for technology companies.

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