Iveda Launches ESG Solution Providing Energy Management For A Large Taiwan Enterprise

Rhea-AI Summary

Iveda unveils IvedaEMS, an Energy Management System that provides critical insights to monitor power consumption and reduce carbon footprints. The company expects revenue growth of $20 million USD over the next three years within its ESG business alone.

Positive

• IvedaEMS will enable companies to improve ESG management and reduce carbon footprints, contributing to a more sustainable world.
• Iveda expects revenue growth of $20 million USD over the next three years within its ESG business alone.

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• None.

IvedaEMS offers critical insights to quantify power consumption and significantly reduce environmental impact

MESA, Ariz.--(BUSINESS WIRE)-- Iveda^® (NASDAQ:IVDA), the global solution for cloud-based AI video and sensor technologies, today unveils IvedaEMS, a new Energy Management System (EMS) that provides critical insights to monitor power consumption. IvedaEMS will enable companies around the globe to vastly improve Environmental, Social and Governance (ESG) management for large enterprise level corporations, reducing carbon footprints across operations. Iveda brings this new solution to market having strategically partnered with an undisclosed premier global provider of networking and communication solutions as IvedaEMS’ first active user. Iveda’s cutting-edge EMS solution will help the enterprise streamline its compliance with ESG regulations, aligning the company with global sustainability standards.

Facing the growing climate change crisis, organizations around the world are zeroing in on their direct impacts to the environment, as well as how to operate in a way that is more sustainable for society overall. Over the past few years, ESG assets have grown to be worth trillions of dollars, with market experts anticipating the industry to hit a massive $53 trillion by 2025.

Through the launch of its ESG solution, Iveda is underscoring its strong commitment to sustainability and environmental responsibility for a greener future. Monitoring power consumption and usage patterns, IvedaEMS will provide customers with critical insights to reduce carbon footprints across the enterprise. With access to granular data, Iveda is arming business leaders with the information needed to make smarter decisions regarding energy-efficient processes, contributing to a more sustainable world.

The deployment of IvedaEMS will allow the customers to monitor energy usage while leveraging real-time data insights to optimize operations for maximum energy efficiency––bringing organizations one step closer to net zero emissions with the additional benefit of major cost savings. Through Iveda’s Smart IoT Platform Cerebro, IvedaEMS is able to collect and control the IvedaSPS (Smart Power Solution) suite, which includes edge servers and smart power meters that can be deployed across an organization’s engineering labs, manufacturing facilities, and more. The technology will enable IvedaEMS’ initial customer to capture detailed data on power loops, power usage, and consumption from SMT (Surface Mount Technology) machines, DIP (Dual In-line Package), and assembly processes. What’s more, IvedaEMS goes beyond energy management as it can calculate the CO2 PPM (parts per million) count required for the enterprise to manufacture or build a product. IvedaEMS can also alert when each power loop is reaching a predetermined threshold of the power usage to remind the facility manager of the potential power danger.

“The launch of IvedaEMS reinforces Iveda’s dedication to building smarter and greener cities,” said David Ly, Iveda CEO and founder. “The fundamental adoption of our ESG management solution serves as a testament to the global reach and applicability of our platform, while celebrating Iveda’s––and our partner’s––commitments to sustainability and responsible corporate citizenship. We look forward to supporting businesses across the globe in their journey toward a more sustainable future as we work together to address critical environmental challenges.”

More companies at the enterprise level––including those within the semiconductor, heavy machinery, iron and steel, and petrochemicals industry verticals across national jurisdictions––are facing strict guidelines to adhere to regarding environmental regulations, as well as mandatory low‑emission standards. As such, Iveda expects revenue growth of $20 million USD over the next three years within its ESG business alone. The company is currently working with several dozen facilities in Taiwan that are planning to deploy IvedaEMS to greatly reduce the nation’s carbon footprint.

This product and customer news rides on the heels of Iveda’s latest partner announcements including collaborations with The Arab Organization for Industrialization, Valor Healthcare, Movement Interactive, Evergreen Aviation, and NetGain Systems as Iveda continues to scale both domestically and globally. With this project, Iveda cements its position as an industry leader in ESG solutions. Heading into 2024, the company plans to continue developing innovative technologies that empower businesses––from SMBs to the enterprise level––to not only meet, but exceed sustainability goals.

About Iveda Solutions^®

Iveda (NASDAQ:IVDA) is the provider of global solutions for cloud-based, video AI search and surveillance technologies that protect the people, places, and things that matter the most. Iveda’s technology has the power to provide instant intelligence to existing infrastructure, enabling cities and organizations around the world to seamlessly enter the fifth industrial revolution. Iveda operates at the forefront of digital transformation of cities across the world, using IoT platforms with smart sensors and devices developed to aid with use cases surrounding public safety, security, elderly care, energy efficiency, and environment preservation. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA”.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231012090379/en/

Olivia Civiletto Erwin

olivia@dottedlinecomm.com

617.477.9857

Source: Iveda

FAQ

What is IvedaEMS?

IvedaEMS is an Energy Management System that provides critical insights to monitor power consumption.

What is the expected revenue growth for Iveda's ESG business?

Iveda expects revenue growth of $20 million USD over the next three years within its ESG business alone.

What industries are facing strict guidelines regarding environmental regulations?

Industries such as semiconductor, heavy machinery, iron and steel, and petrochemicals are facing strict guidelines regarding environmental regulations.

How does IvedaEMS help reduce carbon footprints?

IvedaEMS provides customers with critical insights to reduce carbon footprints across the enterprise by monitoring power consumption and usage patterns.

What is the market size for ESG assets?

ESG assets have grown to be worth trillions of dollars, with market experts anticipating the industry to hit $53 trillion by 2025.