/EIN News/, AUSTIN, Texas, and HOLMDEL, N.J., Dec. 5, 2024 (GLOBE NEWSWIRE): BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring Identity-Bound Biometrics (IBB) for phoneless, token less, password less, and phish-resistant authentication experiences, today announced a strategic partnership with Guinn Partners, a provider of advanced engineering solutions for robotics, drones, and electric propulsion systems. The companies tackle critical security challenges in autonomous systems and Internet of Things (IoT) applications, setting a new benchmark for secure and innovative technology integration.
This collaboration leverages BIO-key’s state-of-the-art biometric authentication technologies and Guinn Partners’ expertise in designing and engineering cutting-edge systems and devices for aerospace, defense, healthcare, logistics, and smart city applications. BIO-key and Guinn Partners are dedicated to revolutionizing security protocols for emerging technologies, providing advanced protection against unauthorized access and cyber threats.
Guinn Partners’ customers include Amazon, Boy Scouts, Gel Blaster, and Lift Foils. Among their innovative projects, they are developing a fleet of semi-autonomous roadside mowers designed to operate in open public spaces. These mowers will be managed by third-party operators, making the control of access to fleet management systems and individual mowers critical for ensuring operational security and public safety. Guinn Partners is also a key player in the electric Vertical Takeoff and Landing (eVTOL) aircraft market, which is experiencing rapid growth, driven by advancements in battery technology, increasing demand for sustainable urban air mobility, and significant private and public sector investment.
Grand View Research estimated the global eVTOL aircraft market at approximately $1.35 billion in 2023. The market is projected to grow at a compound annual growth rate of 54.9% from 2024 to approximately $23.4 billion in 2030. By combining their expertise, Guinn Partners and BIO-key seek to capitalize on these growth markets by offering innovative, highly secure solutions to address these sectors’ unique needs.
In this context, BIO-key’s identity and access management solutions offer a robust layer of protection by utilizing identity-based biometrics. These solutions ensure that only authorized personnel can access and manage fleets, eliminating risks associated with traditional credentials such as passwords or tokens, which can be lost, shared, or stolen.
Partnership Objectives:
- Integration of Biometric Security in Guinn Partners’ Platforms: BIO-key’s advanced authentication solutions will be embedded into Guinn Partners’ autonomous vehicle and IoT platforms, delivering seamless, secure access and control.
- Joint Product Development: The collaboration will focus on co-developing hardware and software solutions that blend innovative engineering with secure identity management.
- Market Expansion: Expand BIO-key’s and Guinn Partners’ market penetration in established aerospace, defense, and consumer robotics networks.
- R&D Innovation: Both companies will invest in research and development for next-generation security solutions tailored to the unique needs of IoT and autonomous applications.
“Through this partnership, we are setting a new standard for secure technology applications in robotics and IoT systems,” said Colin Guinn, CEO at Guinn Partners. “Our collaboration with BIO-key enables us to integrate unmatched security and access control measures directly into the products we develop for our clients.”
“Partnering with Guinn Partners allows BIO-key to advance its mission of developing and delivering secure, user-friendly biometric identity solutions to the cutting edge of technological innovation,” said Michael W. DePasquale, Chairman and CEO of BIO-key International. “This collaboration represents a pivotal step in demonstrating how biometric security can not only enhance the safety and functionality of complex systems in general but also effectively address the critical challenges faced by Guinn’s diverse and expanding customer base.”
The partnership agreement highlights mutual responsibilities, with Guinn Partners integrating BIO-key technology into its advanced engineering projects and BIO-key supplying continuous support for biometric system integration.
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