NYPA demonstrates cybersecurity leadership by providing cloud-based solution to serve its municipal utilities and cooperatives

Anonymized threat information to be shared at network speed to create a dynamic, radar-like view of cybersecurity landscape and enhance resilience of New York’s grid

IronNet, Inc. (NYSE:IRNT) (“IronNet”), an innovative leader transforming cybersecurity through Collective Defense, today announced an expanded partnership with the New York Power Authority (NYPA), the nation’s largest state public power organization, to secure the state of New York’s public energy ecosystem. Based on IronNet’s proprietary machine learning and artificial intelligence, the cloud-based cybersecurity solution will provide Collective Defense capabilities to NYPA and its key supply chain partners to strengthen the state’s ability to protect the grid through a unified cyber defense strategy.

“In the same way that utilities band together to provide mutual aid after damaging weather events, NYPA is making collaborative responses to cyber attacks possible,” said Bill Welch, Co-CEO of IronNet. “We are proud to work with NYPA to enable all public utility stakeholders to adopt a proactive defense against any cyber adversary with an eye on the grid—from criminal groups to nation-states.”

Supported by Amazon Web Services (AWS), NYPA’s adoption of IronNet’s Collective Defense solution will enable New York municipal utilities, partners, and other relevant critical infrastructure state agencies to create a dynamic, radar-like view of the attack landscape that provides visibility into a wider and deeper range of threats across the state’s entire power grid. Powered by a network detection and response (NDR) system that tracks network anomalies with behavioral analytics, NYPA’s key supply chain partners can use IronNet’s Collective Defense platform to collaborate in real time to better detect and defend against attacks. This approach further enhances the resilience of New York’s grid amidst the escalating prevalence of attacks on U.S. critical infrastructure.

“Given the rise of sophisticated cyber attacks, we need to help our municipal utilities implement a strong security program that can detect and mitigate attacks in real-time,” said Victor Costanza, Deputy Chief Information Security Officer at the New York Power Authority. “With the technologies provided by IronNet and AWS, the IT and power infrastructures in NYPA’s supply chain ecosystem can collect and share anonymized cyber threat information so we can defend our enterprise networks collectively, raising the security posture of all of us throughout the state.”

Following the success of an initial pilot with five NYPA municipalities, today’s announcement of the expanded partnership will enable the remaining utility companies included in the NYPA supply chain to leverage IronNet’s advanced threat detection capabilities as part of the NYPA Collective Defense community. Defenders of the state’s IT and power infrastructure will receive alerts on anomalous network behaviors correlated with other Collective Defense participants from the U.S. energy sector at large. In the event of a coordinated attack, the community also benefits from expert guidance from the top cybersecurity professionals of IronNet’s Security Operations Center.

IronNet’s Collective Defense platform serves as an early warning system for all, using only anonymized threat information. This innovative and scalable approach to defending the NYPA energy ecosystem offers a blueprint on how to bridge gaps between the public and private sectors to enhance the protection of U.S. critical infrastructure, as called for in the May 2021 Presidential Executive Order for Improving the Nation’s Cybersecurity.

About IronNet, Inc.

Founded in 2014 by GEN (Ret.) Keith Alexander, IronNet, Inc. (NYSE: IRNT) is a global cybersecurity leader that is transforming how organizations secure their networks by delivering the first-ever Collective Defense platform operating at scale. Employing a number of former NSA cybersecurity operators with offensive and defensive cyber experience, IronNet integrates deep tradecraft knowledge into its industry-leading products to solve the most challenging cyber problems facing the world today.

About New York Power Authority

The New York Power Authority (NYPA) is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit‑miles of transmission lines, including approximately one‑third of New York’s high‑voltage power lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. Located at NYPA’s White Plains Office, AGILe allows NYPA teams and external collaborators to evaluate the impact of new technologies on the bulk electric system before they are deployed on the grid. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information, visit www.nypa.gov and follow the Power Authority on Twitter @NYPAenergy, Facebook, Instagram, Tumblr and LinkedIn.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding IronNet’s ability to strengthen the security profiles of its customers and partners. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside IronNet’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: IronNet’s inability to recognize the anticipated benefits of collaborations with IronNet’s partners and customers; IronNet’s ability to execute on its plans to develop and market new products and the timing of these development programs; the rate and degree of market acceptance of IronNet’s products; the success of other competing technologies that may become available; IronNet’s ability to identify and integrate acquisitions; the performance of IronNet’s products; potential litigation involving IronNet; and general economic and market conditions impacting demand for IronNet’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” in IronNet’s registration statement declared effective by the Securities and Exchange Commission (the “SEC”) on September 30, 2021 and other documents that IronNet has filed or will file with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IronNet does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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