Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that, further to the announcement made on 3 July 2020, following the completion of the four-month pilot agreement with Afrik-ID (Pty) Ltd (“Afrik-ID”), the Company and Afrik-ID have entered into a Memorandum of Understanding (“MoU”) to continue their relationship and work to commercialise potential opportunities.
Of particular interest to Afrik-ID are the opportunities to utilise and leverage the services that can be supplied between Catenae and BHA-Medical Limited (“BHA-Medical”) as announced by the Company on 16 October 2020.
The MoU provides Afrik-ID with a framework to access to BHA-Medical’s Covid-19 Near-Patient Healgen Antigen and the Three-Antibody test kits, as well as its professional clinical consultancy service to enable the tests to be conducted safely and successfully. Catenae’s associated GDPR-compliant blockchain-based identity technology, including its data management platform and Onsite ID mobile app, could also be supplied to process the results.
The services would be rolled out via Afrik-ID’s network across sectors including construction, logistics, mining, sports, healthcare, human rights services, law-enforcement and travel and tourism. Its solutions would enable organisations, businesses and individuals to share certification and identity information via mobile phones in a secure manner.
The MoU is not a legally binding agreement, there is no certainty that a definitive legal agreement will be entered into between the parties or that if such an agreement was entered into that it would generate profit for the Group.
Guy Meyer, Chief Executive Officer of Catenae, said: “We are delighted to provide this update on Afrik-ID following the completion of our pilot agreement, given the level of commercial potential that Afrik-ID has been able to identify within Botswana and SADC.”
David Newman, Chairman and Chief Executive Officer of Afrik-ID, said: ” Afrik-ID has been assessing the market for Catenae solutions into the SADC region. With the advent of the Catenae/BHA JV, the growing functionality around the technology and the obvious commercial application into sectors such as mining and telecoms, we are keen to build on the existing agreement and widen it to a full market exploitation, commercialisation and support arrangement based on the new holistic solution.”
Gavyn Hough, Group Director of BHA-Medical, said: “We are pleased at the prospect of engaging Afrik-ID as a channel partner as part of our go-to-market strategy within the region. We are very aware of the issues faced by the region, along with the associated opportunities.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for the release of this announcement on behalf of the Company was Guy Meyer, Chief Executive Officer of the Company.
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. Catenae use the power of blockchain to deliver solutions where its people-centric technology enables trust and certainty allowing organisations to gain better control over their operations, manage staff and safely welcome customers.
