Energy Companies Face Growing Cyber Threats, Matrix Of Solutions

Energy Companies Face Growing Cyber Threats, Matrix Of Solutions

Share to Linkedin Cybercrime and threats to U. S. energy companies have surged in the past year, costing millions of dollars in losses and ransoms paid, billions of dollars of investment in cybersecurity software, and executive and legislative branch intervention. In 2020, investor-owned utilities spent $120 billion for capital investment for the grid, which includes cybersecurity, money for resilience and grid modernization. Meanwhile, more than 3, 000 U. S. cyber software companies have entered the market. But a former professor of Washington University in St. Louis says the answer to cybercrime is in a little black Q-Box manufactured in Southern Illinois. Ron Indeck, PhD, founder and CEO of Q-Net Security, which developed the Q-Box, has been working on testing and improving cybersecurity protection for 35 years. He's now "evangelizing" security executives to a new mantra: hardware, not software, is the way to protect a system from cyberattacks. St. Louis-based Q-Net Security has developed the Q-Box equipped with an Intel chip programmed with ... [+] physical pins that make cyberattacks on connected devices impenetrable. Indeck recently signed a $3 million deal with the U. S. Air Force to supply Q-Boxes for various devices, and he's inked agreements with half a dozen