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Catenae Innovation #CTEA – AVFC & Sequestrum proof of concept exercises progress toward signed agreements + Positive findings from Trust in Media trial
Catenae (AIM:CTEA), the AIM quoted provider of digital media and technology, is pleased to provide an update regarding:-
- Successful completion of proof of concept exercise with Aston Villa Football Club for the Company’s OnSide solution announced on 20 June 2018 leading to commercial negotiations;
- Successful completion of proof of concept exercise with provider of building management and inspection services as announced on 5 July 2018 also leading to commercial negotiations; and
- Positive findings from the on-going trial of Trust in Media’s Digital Image Library
Aston Villa Football Club
Catenae is pleased to announce that the proof of concept exercise with Aston Villa Football Club (“AVFC”) has completed successfully.
AVFC and the Company have now commenced commercial negotiations with a view to the OnSide product being fully integrated within AVFC’s operations in the near future.
Catenae’s Mobile Business Solutions division, which operates remote workforce management tools, has successfully completed a proof of concept exercise with a provider of building management and inspection services. This proof of concept involved the use of Catenae’s digital repository solution, Sequestrum, which utilises distributed ledger technology (“DLT” also known as Blockchain) to record inspection reports in an immutable manner.
The companies have now engaged in commercial discussions regarding the long-term use of Sequestrum.
As a result of this proof of concept exercise, the client has requested Catenae expand the project to include the creation of the mobile application and management dashboard that will form the basis of their product offering.
We expect to make further announcements on the above commercial agreements in the near future.
Trust in Media – Digital Image library
Catenae’s subsidiary, Trust in Media is pleased to confirm the proof of concept project with a service provider in the Image Licensing sector to trial the embedding of the Digital Asset Registration and Transactional Tracking technology within the provider’s operations also announced on 5 July 2018 continues to plan, following initial positive findings.
Tony Sanders, CEO, commented:
“It is always good when a plan comes together and seeing our products being trialled in earnest and to not only pass with flying colours but provide realistic opportunities of signed agreements confirms the strategy. Particularly with regards to our DLT application Sequestrum, this being the first real world use of this innovative service. We look forward to announcing signed agreements in due course”
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 Tony Sanders (Chief Executive Officer).
For further information:
Catenae Innovation Plc Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7213 0880
Liam Murray / Jo Turner
Alexander David Securities Limited, Broker Tel: 020 7448 9820
David Scott / James Dewhurst