BTL Group Announces Launch of Interbit in Beta

BTL GROUP LTD. is pleased to announce the successful launch of the DX Beta version (“Beta”) of its proprietary blockchain platform, Interbit. The Beta sets the goal of demonstrating the developer experience of interacting and building applications directly on Interbit and brings the platform one step closer to being launched in a live commercial environment. Beta is being distributed to a number of selected partners who will be providing critical feedback.

“This is the first time BTL clients and partners have been able to put Interbit directly in the hands of their technical teams, rather than through BTL’s development team, and marks a major milestone in Interbit’s continued development,” said Guy Halford-Thompson, BTL’s CEO. “I would like to congratulate the entire development team on achieving this milestone, as well as the business teams who have supported them.”

Update on Energy Project
Further to our June 5, 2017 press release, the Company has seen interest from a now larger consortium in the “go-to production phase” of its European energy trading project. The “go-to production phase” is designed to build on the success of the recently completed European energy pilot and if it proceeds, will seek to create a live, commercial version of an energy trading solution that will demonstrate significant cost savings that can be applied across numerous areas of the energy sector.

“The level of interest we are now seeing in the go-to production phase is exciting, but we are committed to keeping the group at a manageable level to ensure we deliver the most value within the aggressive timelines we have set,” said Dominic McCann, BTL’s Executive Vice-President, Sales & Marketing.

Patent Filings 
BTL is preparing patent applications for its Interbit platform, with the expectation that those filings be made by no later than Q4 of this year. Those filings will mark a significant milestone in Interbit’s development and enable the Company to provide additional access to the platform to its clients, customers and partners.

Q2 2017 Financials
BTL also announces that it has filed its interim financial statements and Management’s Discussion and Analysis for the period ended June 30, 2017, which can be found under BTL’s profile on SEDAR (www.sedar.com), and which sets forth detailed operating and financial results for the Company.