Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Saudi Aramco Subsidiary Invests in Xage, an IIoT blockchain-Security Firm

Saudi Aramco Subsidiary Invests in Xage, an IIoT blockchain-Security Firm

Kelly Cromley by Kelly Cromley
Jan 10, 2019
in Market News, News
Reading Time: 2 mins read
0

Xage Security, based in Silicon Valley, has revealed a capital investment by Saudi Aramco Energy Ventures, a wholly owned subsidiary of the Saudi Aramco integrated energy and chemical company.

The Saudi Aramco Energy Ventures (SAEV) investment complements the Xage Series A round, taking the total investment size to more than $16 million. With the aim of bettering operational efficiency and economic value and output in the energy sector, SAEV funding will back Xage’s mission to allow industrial modernization by developing and deploying its decentralized and highly scalable safety fabric.

After launching Xage for Energy, a tamper-proof alternative customized to meet the demands of linked energy networks, the job of the company will certainly continue to promote the adoption by the emerging technologies sector that advance the market.

Xage also greets Norman Thorlakson as SVP Sales and Business Development to its senior management team. The security fabric of Xage provides IIOT with a blockchain-protected security platform, while providing a trusted basis for field encounters between machines, people, apps and data. Recent financing and executive hiring will actually drive the company’s rapid growth in the energy sector, enabling IIOT deployments to be distributed across oil and gas, renewables, water, wind and more.

Jim Sledzik of SAEV said “SAEV invests in technologies and companies that represent the future of energy, and as operational networks become more connected, there’s an opportunity to improve asset management, production, and efficiency. Xage has developed an innovative approach to distributed interactions and industrial security for IIOT, and we are proud to partner with them, as they continue to grow and contribute to the evolution of the energy sector.”

Norman Thorlakson joins Xage as Senior Vice President of Sales and Business Development, where he will lead the rapid expansion of the company’s customer portfolio–including industry-wide organisations.

Given the background global business growth, SaaS, IoT and industrial software, and recently held senior positions at Schneider Electric and Invensys, Thorlakson’s competence in industrial operations and automated control systems will contribute significantly to his performance while working with energy companies.

Duncan Greatwood, Xage Security CEO, said “Our mission is to secure all interactions involving industrial networks – whether those are between machines, apps, data, or people – to enable the next wave of connected and improved operations for global industry. The support from SAEV is a significant validator for Xage’s solution and its impact on the energy sector, and with the addition of Norman Thorlakson to our executive team, we are extending our reach, and supporting the benefits of IIOT and industrial automation.”

Previous Post

Blockchain Ripple Take Customers Tally To 200

Next Post

Qtum Mainnet Allows Atomic Swap With Bitcoin

Related Posts

fidelity investments

Fidelity Compares Ethereum to a Nation-State Economy

by Kelly Cromley
Jul 12, 2025
0

Fidelity Investments, the third-largest asset manager in the United States overseeing $5.9 trillion in assets, has released a new research...

wom protocol

WOM Protocol Launches Layer 1 Blockchain to Power SocialFi

by Kelly Cromley
Jul 12, 2025
0

WOM Protocol, a pioneer in decentralized word-of-mouth marketing, has unveiled the Testnet of its own EVM-compatible Layer 1 blockchain. This...

unique network partners with tapnation for crypto rewards

TapNation Game Adds Seamless Crypto Rewards via Unique Network

by Kelly Cromley
Jul 12, 2025
0

Unique Network, a blockchain infrastructure firm operating within the Polkadot ecosystem, has successfully partnered with mobile game publisher TapNation to...

us bank

U.S. Bank Pioneers Blockchain-Based Trade Finance

by Kelly Cromley
Jul 12, 2025
0

U.S. Bank has become the first American financial institution to successfully carry out a fully digital trade finance transaction, signaling...

Zypto

Zypto Expands Real-World Crypto Utility with Visa Card and Mobile Top-Ups

by Kelly Cromley
Jul 12, 2025
0

Zypto, a rising player in blockchain-based fintech, has introduced two key services that significantly broaden the everyday utility of digital...

zeus network

Zeus Network Launches Bitcoin Airdrop for Solana Users

by Kelly Cromley
Jul 12, 2025
0

Zeus Network has unveiled a new Bitcoin Airdrop campaign aimed at active participants within the Solana blockchain ecosystem. This initiative...

Next Post
Qtum Mainnet Allows Atomic Swap With Bitcoin

Qtum Mainnet Allows Atomic Swap With Bitcoin

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

fidelity investments
Market News

Fidelity Compares Ethereum to a Nation-State Economy

by Kelly Cromley
Jul 12, 2025
wom protocol
Market News

WOM Protocol Launches Layer 1 Blockchain to Power SocialFi

by Kelly Cromley
Jul 12, 2025
unique network partners with tapnation for crypto rewards
Market News

TapNation Game Adds Seamless Crypto Rewards via Unique Network

by Kelly Cromley
Jul 12, 2025
us bank
Market News

U.S. Bank Pioneers Blockchain-Based Trade Finance

by Kelly Cromley
Jul 12, 2025
Zypto
Market News

Zypto Expands Real-World Crypto Utility with Visa Card and Mobile Top-Ups

by Kelly Cromley
Jul 12, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree