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Neoflow Inc, an Energy Technology Company, Successfully Completes US DHS Red Team Evaluation

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Press release content from PR Newswire. The AP news staff was not involved in its creation.
December 21, 2022 GMT

CALGARY, AB, Dec. 21, 2022 /PRNewswire/ - Neoflow, a Calgary based blockchain, has successfully completed U.S. Department Homeland Security Red Team Testing of the Neoflow Platform for Crude Oil.

Red Team testing is an in-depth review conducted by a team of security experts engaged by the U.S. Department of Homeland security under the SVIP program. This review includes functional tests, penetration testing, data privacy and vulnerability testing among other things. This test is required by the government to provide assurances of the correct functionality and level of security and platform robustness necessary to become a long-term technology provider to the U.S. CBP.

Patrick Mandic, CTO at Neoflow, commented, “We are excited to announce the successful completion of this DHS review. Having an external validation at this level of detail is the culmination of the impressive work conducted by the Neoflow technical team over the past three years. We are especially proud to have met the performance expectations required by the U.S. DHS, which are internationally recognized.”

The Neoflow Platform for Crude Oil is being developed by Neoflow with the support of the DHS, through their Silicon Valley Innovation Program (SVIP). Neoflow was awarded a contract in 2019 under the auspices of the DHS Preventing Forgery & Counterfeiting of Certificates and Licenses solicitation to develop the Platform. The Platform will modernize the movement of oil and natural gas between Canada and the United State through the development of standards-based technologies that utilize Verifiable Credentials (W3C) and distributed ledger technology (DLT). The development of the Platform utilizes a 4-stage process. The positive Red Team report is an important milestone that signifies that the Neoflow Platform for Crude Oil has successfully completed the first 3 stages of development.

SVIP is one of S&T’s programs and tools to fund innovation and work with private sector partners to advance homeland security solutions. Companies participating in SVIP are eligible for non-dilutive funding over four phases to develop and adapt commercial technologies for homeland security use cases.

About Neoflow

Neoflow Inc. is a Calgary based company, a team of digital innovators, entrepreneurs and energy industry experts. We have a common passion for transformation in the energy industry along with a common belief that the Neoflow platform will create opportunities to transform the energy value chain. To learn more about Neoflow visit our website www.neoflow.energy and follow us on LinkedIn, Twitter, and Medium.

About SVIP

The SVIP is one of S&T’s programs and tools to fund innovation and work with private sector partners to advance homeland security solutions. Companies participating in the SVIP are eligible for non-dilutive funding over four phases to develop and adapt commercial technologies for homeland security use cases.

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SOURCE Neoflow