WISeKey and SEALSQ Semiconductors Pioneer a Secure and Seamless EV Charging Experience with PKI and Root of Trust

WISeKey and SEALSQ Semiconductors Pioneer a Secure and Seamless EV Charging Experience with PKI and Root of Trust

GENEVA – June 20, 2023: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a global cybersecurity leader, and its subsidiary SEALSQ Corp. (NASDAQ: LAES), an advanced semiconductor company, today announced that they have commenced the implementation of an innovative solution for secure and seamless Electric Vehicle (EV) charging.

This state-of-the-art solution showcases WISeKey and SEALSQ’s unique capability to seamlessly integrate PKI, Certified Semiconductors and Provisioning Services in a single security offering, which is already being evaluated and implemented in the field by major players in the EV Charging segment in Europe.

The solution involves a VAULTIC secure element, provisioned with a trusted identity that is managed through the INeS Managed PKI as-a-Service portal and offers end-users the ability to perform secure authentication and trusted, encrypted data exchange between EV, Station, Network and Service providers.
  

By acting as a single security provider across the chain of trust, the WISeKey group offers unique benefits to its customers who can achieve the highest level of security and regulation compliance, while reducing deployment complexity and time-to-market.

As the number of EVs on the road surges, the cybersecurity landscape becomes increasingly complex. Known vulnerabilities in EV charging stations, ranging from lack of encryption to authentication issues, poses significant threats to not just the vehicles, but also to the charging stations, charge point operators, billing and distribution system operators. Threats are multifaceted, encompassing potential electricity flow disruption, identity theft, data alteration, and malware intrusion.

Beyond security concerns, a compelling EV charging experience requires seamless operability. With the rise of EV popularity, consumers demand an automated and efficient charging process that doesn't involve lags or reentering credentials.

Recognizing these challenges, WISeKey and SEALSQ are creating a safer and more user-friendly EV charging environment. Their pioneering use of PKI, a tried-and-true method of securing and authenticating data transfer, coupled with Root of Trust, a secure crypto processor that authenticates digital signatures and certificates, can address these pressing issues.

EV charging infrastructure is becoming more ubiquitous and as a result, the potential cyber vulnerabilities associated with these systems are attracting increased attention. There have been proof-of-concept attacks and potential vulnerabilities identified by security researchers.

Here are a few examples:

• Kaspersky Lab (2019): Researchers from the cybersecurity firm Kaspersky Lab demonstrated how a lack of proper security measures could allow an attacker to switch off parts of an EV charging station. By taking advantage of this vulnerability, attackers could potentially turn off charging facilities at peak times, causing significant inconvenience for EV owners.
  
  
• University of Twente and the Dutch knowledge center Eindhoven University of Technology (2020): A group of researchers from these institutions demonstrated vulnerabilities in the protocol used for communication between EVs and charging stations (known as the ISO 15118 standard). The researchers showed that hackers could potentially exploit these vulnerabilities to stop the charging process or even damage the battery.
  
  
• Black Hat Conference (2017): At this prominent cybersecurity event, a group of researchers demonstrated a 'Man-in-the-Middle' (MitM) attack on a commercially available EV charging station. By intercepting communications, the researchers were able to take control of the charging process, potentially leading to overcharging risks.
  
  

The integration of PKI and Root of Trust into the EV charging infrastructure serves as a robust shield against cyber threats, ensuring that EVs and their charging stations are protected from unauthorized access and malicious activities. Simultaneously, these technologies help streamline the charging process, allowing EV owners to enjoy a seamless, hassle-free experience.

With this groundbreaking initiative, WISeKey and SEALSQ are creating a new standard for security and operability in the EV charging sector, contributing significantly to a sustainable and secure future for the world of mobility.

About SEALSQ

SEALSQ is a wholly owned subsidiary of the WISeKey Group that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products. Our Post-Quantum solutions include Post-Quantum microchips and devices that can be used in a variety of applications, from Multi-Factor Authentication devices, Home Automation, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information visit https://www.SEALSQ.com

About WISeKey

WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.).  WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens. Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.

Press and investor contacts:

WISeKey International Holding Ltd Company Contact:  Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com

WISeKey Investor Relations (US) Contact:  Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.com

Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.