RNS Number : 9178R

Catenae Innovation PLC

03 July 2020

3 July 2020

Catenae Innovation PLC

("Catenae", the "Company" or the "Group")

Completion of New Product - Onsite ID

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology announces that it has finalised the development of a new product 'Onsite ID', a generic multi-document digital wallet. The Onsite ID app was previously in development when the Company slowed its progress to allocate resources to the creation of the Cov-ID app, which shares a similar technology platform.

Onsite ID provides the ability to view immutable records that are written to blockchain, providing audit trails of transactions and is GDPR compliant.

Guy Meyer, Interim Chief Executive Officer of Catenae, said: "I am pleased to announce that the development of our new Onsite ID product has been completed.

"Catenae initially undertook to develop Onsite ID for use in the construction sector, given that industry's need for the proof of Identity and Qualifications of the workforce; as well as their need for proof of Health & Safety Certification levels. Onsite ID provides a means of simultaneous validation of a number of data sources and documents to counter the fraud potential that is inherent in paper-based processes.

"The need for contractors and employers to prove that their workforce is fully compliant will become more relevant as the UK leaves the single market at the end of the year. Given the imminent need for permissions to live and work in the UK, this provides further opportunities for the deployment of our technology solutions.

"Onsite ID can also be of use across multiple sectors globally, wherever the validation of Identity Qualifications and Access status are required.

"We look forward to informing the market of further developments regards Onsite ID."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.

- Ends -

For further information please contact:

                                                         +44 (0)191 580 
 Catenae Innovation PLC                                            8545 
 Guy Meyer, Interim CEO 
 Cairn Financial Advisers LLP (Nominated Adviser)    +44(0)20 7213 0880 
 Liam Murray / Jo Turner 
                                                         +44 (0)20 3463 
 Brandon Hill Capital Limited, Broker                              5000 
 Andy Gutmann                                         +44 (0)78796 8313 
                                                         +44 (0)20 3004 
 Yellow Jersey PR (PR & IR)                                        9512 
 Sarah Hollins / Annabel Atkins 

Notes to Editors:

About Catenae Innovation PLC

Catenae Innovation is an AIM quoted provider of digital media and technology services. The Company specialises in Distributed Ledger Technology solutions that solve commercial challenges and create opportunities for its clients. The Company has an experienced IT team of project managers and integrators who have deployed systems across corporate, government and educational sectors.


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(END) Dow Jones Newswires

July 03, 2020 02:00 ET (06:00 GMT)

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