Sypris wins $3.1 million in funding from DOE

Tampa, Fla., October 25, 2010 — Sypris Electronics, LLC, a unit of Sypris Solutions, Inc., was selected by the U.S. Department of Energy to receive $3.1 million of funding to develop a centralized cryptographic key management system to protect the nation’s electric power grids from cyber attacks.

Sypris was one of eight institutions selected by the DOE to receive cyber security R&D project funding.

The funding is to develop a centralized cryptographic key management system to protect the nation’s electric power grid from cyber attacks.

The project is intended to improve the security of smart grid meters at residences by utilizing electronic data keys to limit access to trusted parties while preventing intruders from launching a cyber attack on the system.

Sypris is partnering with Purdue University, Oak Ridge National Laboratory and the Electric Power Research Institute on the three-year project.

The DOE is providing a total of $20 million for eight cyber security R&D projects to research, develop and commercialize a range of cyber security solutions to strengthen the U.S. electric grid against cyber intrusion.

Together, these projects are designed to bring cyber security protection into the utilities, out to the substations and to homes.

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