PQShield Announces Major New Licensee, Microchip Technology, and FIPS 140-3 Compliant Solution as Governments Force Transition to Post-Quantum Cryptography

• PQShield is a key contributor to NIST’s process to standardize post-quantum cryptography
• Society Sees Rise in Demand as Companies Seek to Defend Against Quantum Threat
• “Harvest Now, Decrypt Later” Attacks Are The Number One Reason Companies Take Immediate Action, Says PQShield CEO Ali El Kafarani
• The company has launched a quantum readiness program for companies of all stages
• Its hybrid cryptographic library is the first ever subjected to FIPS 140-3 validation

LONDON, June 1, 2022 /PRNewswire/ — Post-quantum crypto company PQShieldName secured new deals to showcase its quantum-ready crypto solutions to organizations across all industries. Today, the company announces a major licensing agreement with Microchip Technology, as well as a collaboration with Collins Aerospace.

The quantum threat has been increasingly on the global security agenda in recent months, as the US National Institute for Standards and Technology (NIST) finalizes its treat standardize post-quantum cryptography. The new standards are expected shortly.

Meanwhile, governments and security agencies have been increasingly vocal about the urgent need to move to new quantum secure cryptographic standards. In January and May, the White House memos called on US government agencies to identify any encryption that does not meet quantum-proof standards and provide a timeline for transition. In addition, the French National Security Agency (ANSSI) advised the immediate introduction of post-quantum defenses throughout the private sector, and germany BSI approved the use of post-quantum cryptography.

PQShield is a major contributor to the NIST process, having co-authored several algorithms under final consideration for standardization and advised on all others.

Since breeding $20 million in a Series A funding round in January, the company has seen strong growth on the back of heightened global awareness of the quantum threat and a growing understanding of its urgency. Today, the company announces the following:

In the semiconductor industry, Microchip technology became a licensee of PQShield’s post-quantum cryptography IP cores for use in its product portfolio in the coming years, recognizing the quantum threat and leading the industry to actively adopt new standards.

In defensePQShield and Collins Aerospacea leader in technologically advanced and intelligent solutions for the global aerospace and defense industry, are collaborating on a proof-of-concept integration of post-quantum cryptography solutions.

In the deployment of post-quantum cryptography for governments, PQShield has submitted its hybrid cryptographic library, PQCryptoLib, to be validated for FIPS 140-3, the mandatory standard for protecting sensitive data within US and Canadian federal systems. This makes it the first hybrid library ever to undergo NIST’s Cryptographic Module Validation Program for FIPS 140-3. It will be used by government partners and contractors to conduct business in a fully compliant and quantum secure manner.

PQShield is the only company capable of demonstrating and delivering quantum-safe cryptography on chips, in applications, and in the cloud. Over the past two quarters, the company has cemented its position as the only established provider of post-quantum solutions at all stages of the post-quantum cryptography journey, from standards development to licensing.

Its Quantum Readiness Program, which was launched for companies of all stages, includes:

Development of standards: PQShield is part of the NIST program to develop new standards for post-quantum cryptography. His team is also working with other organizations, like RISC-V and GlobalPlatform, to define their own.

Education: Through a new information program, PQShield helps executives, buyers and engineers understand the quantum threat and get the actionable insights they need to plan for a secure future.

Cipher Discovery: PQShield researched and selected a leading cipher discovery tool to incorporate its cutting-edge know-how. The partnership, to be announced later, will help companies understand what cryptography they have in place and where – the first step in their migration to quantum security.

Evaluation: Each company’s product is unique, so assessment is an important step before finalizing a migration plan. PQShield is supporting several partners, such as Collins Aerospace, at this stage of the transition process.

Licence : Once a company like Microchip Technology understands what it needs, it’s time to license it. Only PQShield can provide the necessary cryptography to do this in both hardware and software.

PQShield is also expanding its international presence in response to this increase in global demand. In April, the company appointed Internal linkinternational business development consulting firm specializing in Asia, to support its entry into the Japanese market. It also plans to expand its presence in Europe and the United States in the coming months.

The company also plans to double its team by the end of 2022. This follows the hiring of Alan Grau (formerly Sectigo) as VP Business Development; Michael Vroobels (ex-TrueLayer) as Vice President of Operations; and Graeme Hickey (formerly NXP Semiconductors) as Senior Director of Engineering. Ben Packman (ex-advisor to Navenio, Vivacity Labs, ThoughtRiver and others) also joined the team as SVP Strategy in April.

Ali El Kafaranifounder and CEO of PQShield, says:

“There has been a major shift in gears as companies realize how serious a quantum attack could be for their business. ‘Harvest now, decrypt later’ attacks are the main reason why they are taking immediate action. machine has not yet arrived on the scene: any sensitive data stolen today will be ripe for immediate decryption as soon as it is.

“Our new licensing agreement with Microchip Technology is a prime example of how seriously manufacturers are taking the quantum threat. OEMs and suppliers now understand that any hardware designed and built today could have a decades-long life cycle. If it doesn’t have a quantum-resistor baked in, there’s a huge security issue waiting to happen.

“We are delighted that governments are shining the spotlight on this critical infrastructure threat and directing their agencies to implement new quantum-resistant encryption. As government partners and contractors adapt to new standards, we expect more sectors to quickly follow in their footsteps.”

About PQShield

PQShield is a cybersecurity company specializing in post-quantum cryptography, protecting data from today’s attacks while preparing organizations for the threat landscape of tomorrow. It is the only cybersecurity company able to demonstrate quantum-safe cryptography on chips, in applications and in the cloud. Based in the UK, with additional teams in United States, France, Belgium, the Netherlands and Japanits secure quantum cryptographic solutions work with enterprise legacy systems to protect devices and sensitive data now and for years to come.

PQShield is primarily backed by Addition, Crane Venture Partners, Oxford Science Enterprises (formerly OSI), Kindred Capital and InnovateUK. His latest white papers are available for reading here.

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