Latest news with #quantumsecurity
Globe and Mail
2 days ago
- Business
- Globe and Mail
Scope Technologies Announces Leadership Transition: Ted Carefoot Appointed CEO
Vancouver, BC , /CNW/ -- Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) ("Scope Technologies" or the "Company") today announced the appointment of Ted Carefoot as Chief Executive Officer, succeeding James Young , who will continue supporting the company in an advisory capacity. A proven technology leader with over two decades of experience in software development, cybersecurity, AI, and risk management, Carefoot most recently served as Scope's Vice President of Product. His career includes leadership roles at Electronic Arts and Disney Online Studios Canada, with deep expertise in developing large-scale security solutions and regulatory frameworks. Carefoot holds certifications in Governance, Risk & Compliance (GRC) and Integrated Data Privacy, and is recognized for his expertise in Risk Management Framework (RMF) implementation — a critical capability as Scope expands its post-quantum security offerings. "As Scope Technologies enters its next phase of growth, we are committed to staying at the forefront of quantum security innovation and compliance," said James Young . "Ted's leadership, industry experience, and deep expertise in risk management and regulatory standards make him the ideal person to guide Scope into this future. I have full confidence in his ability to scale the company and deliver on our mission." Under Carefoot's leadership, Scope Technologies will continue its focus on providing quantum-resilient encryption and security solutions to enterprise and government clients, helping organizations prepare for the growing regulatory requirements surrounding post-quantum cryptography (PQC) standards. "I'm honored to step into this role at such a pivotal time," said Ted Carefoot . "With quantum computing threats becoming a reality, businesses and governments must act now to safeguard their data. I look forward to leading Scope's talented team as we help organizations future-proof their security infrastructure against these emerging threats." Scope Technologies also announces that Sean Prescott has resigned as a director of the Company. The Company wishes to thank him for his services as a director. Mr. Prescott will remain CTO of Scope Technologies. Grant of Restricted Share Units and Stock Options Scope Technologies has also granted a total of 950,000 stock options exercisable at $0.385 per share for a period of five years from the date of grant. The stock options are subject to the vesting requirements set by the board of directors. In addition, Scope Technologies granted 1,500,000 restricted share units ("RSUs") to Mr. Carefoot. The RSUs vest as follows: 250,000 RSUs within one year from the grant date, 500,000 RSUs within two years from the grant date and 750,000 RSUs within three years from the grant date. For more information on how QSE's quantum security solutions visit or contact sales@ About Scope Technologies Corp Headquartered in Vancouver, British Columbia , Scope Technologies Corp is a pioneering technology company specializing in quantum security and machine learning. Through its flagship brands, QSE Group and GEM AI, Scope provides next-generation solutions in data security, quantum encryption, and neural networks, empowering businesses with secure, scalable technologies that drive growth and operational efficiency. LinkedIn: scope-technologies-corp Facebook: Scope Technologies Corp Twitter: @ScopeTechCorp Contact Information: James Young CEO, Scope Technologies Corp. Email: james@ Phone: +1 604-416-1720 Website: Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets, and more specifically, the use of proceeds of the Offering. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks and are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, those risks and assumptions described in the Company's latest management discussion and analysis, a copy of which is available under the Company's profile on SEDAR at While Scope considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions, continued satisfaction of Canadian Securities Exchange requirements, product safety and recalls, regulatory compliance and risks associated with the Company's business. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement. The Canadian Securities Exchange has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Associated Press
07-05-2025
- Business
- Associated Press
SEALSQ Announces QVault TPM Compliance with Highest-Security Key Lengths for Post-Quantum Protection in Defense, IoT, and Automotive
Geneva, Switzerland, May 07, 2025 (GLOBE NEWSWIRE) -- QVault TPM Now Compliant with ML-DSA-87 and ML-KEM-1024, Leverages the Most Secure NIST-Standardized CRYSTALS-Dilithium and Kyber Algorithms for Quantum-Resistant Protection SEALSQ Corp (NASDAQ: LAES) ('SEALSQ' or 'Company'), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, today announced that its QVault Trusted Platform Module (TPM) is fully compliant with ML-DSA-87 and ML-KEM-1024, the highest-security parameter sets of the NIST-standardized CRYSTALS-Dilithium (ML-DSA) and CRYSTALS-Kyber (ML-KEM) algorithms. This milestone reinforces SEALSQ's position as a trusted provider of quantum-resistant security solutions, addressing the stringent requirements of defense, IoT, automotive, and telecommunications markets. ML-DSA-87 and ML-KEM-1024: The Pinnacle of Post-Quantum Security ML-DSA-87 and ML-KEM-1024 represent the most robust variants of the CRYSTALS-Dilithium digital signature algorithm and CRYSTALS-Kyber key encapsulation mechanism (KEM), respectively, standardized by NIST in August 2024 as FIPS 204 and FIPS 203. These algorithms, part of the Cryptographic Suite for Algebraic Lattices (CRYSTALS), are based on the hardness of module lattice problems, offering resistance to both classical and quantum attacks. Their superior security stems from longer key sizes, which provide enhanced protection against cryptanalytic advances: ML-DSA-87 (Dilithium): With a public key size of 1,952 bytes and a signature size of 4,595 bytes, ML-DSA-87 targets security equivalent to AES-256, the highest security level among NIST's PQC signature schemes. This makes it ideal for applications requiring long-term data integrity and authentication, such as firmware signing and secure communications in defense systems. ML-KEM-1024 (Kyber): Featuring a public key size of 1,568 bytes and a ciphertext size of 1,568 bytes, ML-KEM-1024 also achieves AES-256-equivalent security, ensuring robust key exchange for encrypted data transmission. Its design supports high-security use cases like IoT device authentication and satellite telecommunications. Compared to lower-parameter variants (e.g., ML-DSA-44, ML-KEM-512), ML-DSA-87 and ML-KEM-1024 use larger keys and more complex lattice structures, significantly increasing computational difficulty for attackers, including those with future quantum computers. According to NIST, these parameter sets are recommended for applications where 'the highest level of security is required,' such as protecting classified data or critical infrastructure. Market Demand for High-Security PQC Solutions The urgency to adopt quantum-resistant cryptography is driven by the rapid advancement of quantum computing, with experts predicting cryptographically relevant quantum computers could emerge within a decade, threatening traditional encryption like RSA and ECC. Industry leaders have echoed the demand for high-security PQC algorithms. IBM, a key contributor to ML-DSA and ML-KEM, noted that these standards mark 'a crucial milestone to advancing the protection of the world's encrypted data,' (*) highlighting their adoption in products like IBM z16 and IBM Cloud for government and financial services. Cloudflare reported that nearly 2% of TLS 1.3 connections were PQC-secured by early 2024, with expectations of double-digit adoption by year-end, driven by customers prioritizing quantum-safe key exchange for data protection against 'harvest now, decrypt later' attacks. The preference for AES-256-equivalent security delivered by ML-DSA 87 and ML-KEM 1024 aligns with customer requirements in defense and critical infrastructure, where long-term data confidentiality is paramount. (*) QVault TPM: A Robust Platform for Quantum-Resistant Security SEALSQ's QVault TPM integrates ML-DSA-87 and ML-KEM-1024 into a hardware-based security module, providing a tamper-resistant environment for cryptographic operations, key storage, and device authentication. Certified to FIPS 140-2/3 and Common Criteria EAL5+, the QVault TPM supports a range of applications, including: Defense: Secure firmware signing and authentication for drones and satellite systems, ensuring data integrity against quantum threats. IoT: Quantum-safe authentication for billions of connected devices, protecting smart cities and industrial systems. Automotive: Secure vehicle-to-everything (V2X) communications, meeting ISO 26262 safety and cybersecurity standards. The QVault TPM's compliance with ML-DSA-87 and ML-KEM-1024 builds on SEALSQ's expertise in secure semiconductors, as demonstrated in partnerships with Parrot and AgEagle for drone security and WISeSat for satellite IoT connectivity. By embedding the most secure PQC algorithms, SEALSQ ensures long-term protection for data encrypted today, addressing customer demands for future-proof cybersecurity. 'SEALSQ's QVault TPM sets a new benchmark for post-quantum security by integrating ML-DSA-87 and ML-KEM-1024, the most advanced algorithms available,' said Jean-Pierre Enguent, CTO of SEALSQ. 'Our commitment to delivering quantum-resistant solutions empowers customers in defense, IoT, and automotive sectors to safeguard critical systems against emerging threats.' About SEALSQ: SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable. SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries. For more information on our Post-Quantum Semiconductors and security solutions, please visit . Forward-Looking Statements This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC. SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 [email protected] SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 [email protected]
