Oil and gas exploration company Woodside Energy was sufficiently intrigued in its earlier development pact with ECU-founded Sapien Cyber to purchase a 10% stake.
Sapien Cyber, an Australia-based critical infrastructure security technology producer based on Edith Cowan University (ECU) research, has secured an undisclosed sum from hydrocarbon producer Woodside Energy, Offshore Technology reported on Monday.
Woodside Energy will acquire a 10% share of Sapien with the transaction, which is subject to the fulfilment of certain customary conditions.
Founded in 2016, Sapien Cyber provides industrial cybersecurity products to operators of critical infrastructure such as offshore oil rigs.
Sapien’s technology is marketed as providing “unprecedented” oversight of the client’s networks alongside dynamic real-time monitoring and intelligence to reduce the likelihood of malicious cyberattacks.
Oil and gas producers including Woodside have begun transitioning their offshore infrastructure to digital systems, making them potential targets for intruders.
Sapien Cybersecurity extends research pioneered at ECU’s Security Research Institute, which continues to support the company’s research and development. Its advisory board includes the institute’s director, Craig Valli.
Woodside had assisted Sapien with product development prior to its equity investment. Sapien has also raised funding from corporate advisory firm Jindalee Partners previously, though further details could not be ascertained.
John Poynton, chairman of Sapien Cyber, said: “Criminals, activists and state agents are continually refining the potency of their cyber weapons.
“Solutions need to evolve faster than the threats. Our unique approach offers unparalleled, real-time visibility to the client’s network, detecting operational technology cyber threats before they can wreak havoc.”
