SEALSQ in Cooperation with WISeKey Expands Post-Quantum Footprint in Saudi Arabia

Rhea-AI Summary

SEALSQ Corp (NASDAQ: LAES) announced an expansion of its presence in Saudi Arabia through a partnership with WISeKey International Holding. The companies, through their joint venture WISeKey Arabia with the Juffali Group, aim to support Saudi Arabia's digital transformation and cybersecurity initiatives aligned with Vision 2030.

The collaboration focuses on implementing quantum-resistant cryptographic technologies, including Public Key Infrastructure (PKI), digital identity management, and IoT security solutions. The companies plan to introduce the WISeSat.Space ecosystem, a low-power secure satellite solution for IoT devices, featuring end-to-end security with quantum-resistant encryption.

Additionally, SEALSQ and WISeKey are partnering with Hedera in connection with the DeepTech Venture Studio, a $250M initiative funded by The Hashgraph Association ($50M) and the Saudi Ministry of Investment Association ($200M), supporting Saudi-based startups in blockchain, AI, IoT, robotics, and quantum computing.

Positive

• Partnership with Saudi Ministry of Investment Association through $250M DeepTech Venture Studio initiative
• Strategic expansion in Saudi Arabian market through joint venture with Juffali Group
• Introduction of WISeSat.Space ecosystem for IoT security and satellite communications

Negative

• None.

Riyadh, Saudi Arabia, Jan. 13, 2025 (GLOBE NEWSWIRE) --  

SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company specializing in Semiconductors, PKI, and Post-Quantum technology hardware and software products, today announced that in partnership with its parent company, WISeKey International Holding (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), is scaling its presence in Saudi Arabia to support the Kingdom’s digital transformation and cybersecurity advancements. Through their joint venture, WISeKey Arabia, in collaboration with the Juffali Group, SEALSQ and WISeKey aim to gradually introduce groundbreaking technology innovations tailored to Saudi Arabia’s unique needs.

In 2019, WISeKey Arabia, in partnership with the Juffali Group, a leading Saudi business conglomerate, is committed to fostering a secure digital ecosystem in alignment with Vision 2030. The collaboration focuses on providing state-of-the-art solutions, including Public Key Infrastructure (PKI), digital identity management, and IoT security, enhanced with SEALSQ’s quantum-resistant cryptographic technologies. This initiative ensures a robust foundation for Saudi businesses and government entities to thrive in an increasingly digital world.

Gradual Deployment of Cutting-Edge Technologies
SEALSQ and WISeKey plan to gradually introduce innovative solutions to Saudi Arabia’s technology landscape, including advancements in satellite communication and IoT security through the WISeSat.Space ecosystem. WISeSat.Space, WISeKey’s pioneering low-power, secure satellite solution, enables real-time data processing for IoT devices in remote locations.

The system is designed to provide:

• End-to-End Security: Utilizing quantum-resistant encryption to protect critical IoT data.
• Cost-Efficiency: Reducing the barriers to satellite communication for businesses and government projects.
• Scalability: Supporting diverse applications, including environmental monitoring, smart cities, and supply chain optimization.
  
  

WISeSat.Space’s integration into the Saudi market represents a strategic step in equipping local industries with the tools needed to excel in the Fourth Industrial Revolution.

Partnership with Hedera and The Hashgraph Association
In addition to WISeSat.Space’s deployment, SEALSQ and WISeKey are collaborating with Hedera, leveraging its enterprise-grade distributed ledger for blockchain-based applications. These efforts align with The Hashgraph Association’s five-year partnership with the Saudi Ministry of Investment Association, which includes the launch of the $250M DeepTech Venture Studio. The DeepTech Venture Studio is designed to support startups operating within Saudi Arabia in areas such as blockchain, AI, IoT, robotics, and quantum computing.

Funded with $50M from The Hashgraph Association and $200M from the Saudi Ministry of Investment Association, the DeepTech Venture Studio provides significant opportunities for Saudi-based companies leveraging Hedera’s hashgraph network. WISeKey Arabia will serve as a trusted technology partner, empowering startups with secure and scalable solutions.

Aligning with Vision 2030
WISeKey and SEALSQ’s plans align with Saudi Arabia’s Vision 2030, which emphasizes innovation, digital transformation, and economic diversification. The partnership supports key national initiatives, including the Centre for the Fourth Industrial Revolution (C4IR) Saudi Arabia and the Quantum Economy project, ensuring that the Kingdom remains a global leader in advanced technologies.

“Our commitment to Saudi Arabia extends beyond cybersecurity,” said Carlos Moreira, CEO of SEALSQ. “By introducing groundbreaking technologies like WISeSat and collaborating with key partners such as the Juffali Group, Hedera, and The Hashgraph Association, we aim to empower the Kingdom’s businesses and government with the tools they need to succeed in a rapidly evolving digital landscape.”

About SEALSQ:
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.

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 the expected success of our technology strategy and solutions for IoMT Security for Medical and Healthcare sectors, SEALSQ's ability to implement its growth strategies, 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 info@sealsq.com

SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +212 836-9612 / kmurphy@equityny.com

FAQ

What is SEALSQ's (LAES) expansion strategy in Saudi Arabia?

SEALSQ is expanding in Saudi Arabia through a joint venture called WISeKey Arabia with the Juffali Group, focusing on implementing quantum-resistant cryptographic technologies, PKI, digital identity management, and IoT security solutions.

How much funding is allocated to the DeepTech Venture Studio involving LAES in Saudi Arabia?

The DeepTech Venture Studio has $250M in funding, with $50M from The Hashgraph Association and $200M from the Saudi Ministry of Investment Association.

What technologies is SEALSQ (LAES) introducing to Saudi Arabia through WISeSat.Space?

SEALSQ is introducing low-power secure satellite solutions for IoT devices with quantum-resistant encryption, enabling real-time data processing in remote locations.

How does SEALSQ's (LAES) Saudi Arabia expansion align with Vision 2030?

The expansion aligns with Saudi Arabia's Vision 2030 through support of digital transformation, innovation, and economic diversification, particularly in the Centre for the Fourth Industrial Revolution and Quantum Economy project.