Global cyber security company 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 including smart meters.
MWR, an approved service provider under the UK Government’s Cyber Incident Response (CIR) scheme, will use the investment to develop its existing software products and services and invest in specialist research on the threats faced by the growing smart energy sector.
Ian Shaw, managing director of MWR InfoSecurity, said: “We are striving to help utilities and infrastructure providers secure their networks, smart grids, remote energy generation facilities, smart meter and home automation sites.
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.
“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.”
As part of this investment, Rob Genieser and Fabrice Bienfait from the Environmental Technologies Fund will join the Board of MWR.
Environmental Technologies Fund, supported by the European Union and institutional investors, is a growth capital investment fund that supports companies whose products and services deliver a significant environmental and economic benefit.