Information security partner, MWR InfoSecurity has announced it is to receive a multi million pound investment from the European capital venture investor, the Environmental Technologies Fund.
The funding is to go towards developing software to combat smart energy cyber security threats.
Specialist research will be funded to protect smart energy information assets in the financial and government sector.
MWR InfoSecurity is part of the UK government’s Cyber Incident Response scheme – a government initiative to make the UK more resilient to cyber security threats.
Ian Shaw, managing director of MWR InfoSecurity said cyber security is “one area that is becoming increasingly important to us is the energy sector, as we strive to help utilities and infrastructure providers secure their networks, smart grids, remote energy generation facilities, smart meter and home automation sites”.
Rob Genieser, partner with the Environmental Technologies Fund said the finance will allow MWR to bring to the market “a number of new products in the rapidly evolving security sector, based on their unparalleled understanding of their clients’ needs”.
MWR will “devote substantial resources to tackle security issues that arise from the new green and distributed energy network,” added Genieser.
The UK will begin its smart meter roll out in 2015 with the goal of distributing 53 million by 2020.