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#News(General) [ via IoTForIndiaGroup ]
Silicon Valley-based Xage Security announced an investment from Saudi Aramco Energy Ventures (Dhahran, Saudi Arabia; http://www.saev.com), a subsidiary of integrated energy and chemicals company Saudi Aramco. Xage also welcomes Norman Thorlakson to its leadership team as SVP of Sales and Business Development. Providing blockchain-protected security platform for IIOT, Xage’s security fabric creates a trusted foundation for in-field interactions between machines, people, apps and data. The recent funding and executive hire will drive the company’s continued growth in the energy sector, enabling distributed IIOT deployments across oil and gas, renewables, water, wind, and more.
The SAEV funding will support Xage’s mission to enable industrial modernization through the development and deployment of its decentralized and scalable security fabric. Having recently launched Xage for Energy, a tamperproof solution tailored to meet the needs of connected energy networks, the company’s work will continue to facilitate the industry’s adoption of emerging technologies that advance the market.
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