Veea Partnership With ICT Delivers Advanced Wireless Connectivity and High-Value Asset Tracking to Transform Mining Operations
Veea (NASDAQ: VEEA) has partnered with Inti Cakrawala Teknologi (ICT) to bring advanced connectivity solutions and asset tracking to mining operations in Southeast Asia. The first live installation is set for October 20, 2024. The partnership aims to address connectivity challenges in remote mining regions, enhancing asset management, security, and employee safety.
Key features of the deployment include:
- Bi-Directional WiFi for uninterrupted communication
- IoT Gateways and LoRaWAN Sensors for tracking and monitoring
- Edge Computing for real-time data processing
- IoT Meshing and Cloud Connectivity for extended network reach
Veea's solution provides comprehensive connectivity and IoT infrastructure, positioning mining companies to adapt to future technological advancements while reducing operational costs.
- Partnership with ICT to provide advanced connectivity solutions for mining operations in Southeast Asia
- First live installation scheduled for October 20, 2024
- Veea's solution addresses connectivity challenges in remote mining regions
- Improves asset tracking, enhances safety, and reduces operational costs
- Enables real-time communication and monitoring in challenging environments
- None.
Insights
The partnership between Veea and ICT represents a significant advancement in mining technology, addressing critical challenges in remote operations. The deployment of Veea's hyperconverged edge network solution offers multi-faceted benefits:
- Enhanced connectivity in remote areas, important for real-time communication and monitoring
- Improved asset tracking and management, potentially reducing operational costs
- Advanced safety measures through real-time monitoring of environmental conditions
- Edge computing capabilities, enabling faster data processing and decision-making
The integration of IoT gateways, LoRaWAN sensors and edge computing creates a robust ecosystem for digital transformation in mining. This solution not only addresses current operational challenges but also lays the groundwork for future technological advancements in the industry. The planned October 2024 deployment could serve as a benchmark for similar operations globally, potentially driving industry-wide adoption of advanced connectivity solutions in remote mining sites.
This partnership holds significant market implications for Veea (NASDAQ: VEEA). The mining sector represents a lucrative market opportunity, especially in regions with challenging connectivity. Key points to consider:
- Expansion into Southeast Asian markets could open doors to other emerging markets with similar infrastructure challenges
- The solution's versatility (supporting WiFi, IoT, edge computing) positions Veea as a one-stop solution provider for complex industrial needs
- Success in mining could lead to applications in other remote industries like oil & gas, forestry, or agriculture
However, investors should note that the first live installation is slated for October 2024, indicating a long lead time before potential revenue impact. The success of this deployment will be important in validating Veea's technology and could influence the company's future growth trajectory in industrial IoT and edge computing markets.
New wireless deployment boosts asset management, worker safety, and environmental monitoring in remote
ICT works with a number of large-scale mines that operate in remote regions where connectivity is a major challenge. Due to the vast distances between mines and storage facilities, it’s incredibly difficult to manage assets, ensure security and employee safety in real-time without a modern wireless solution.
“The impressive feature of the Veea hub is that it not only solves for connectivity issues but also provides several IoT gateways which supports edge computing, Wi-Fi, IoT meshing, and connectivity to the cloud,” said Wiwit Ongko, Technical Director at ICT. “We’re proud to partner with Veea on this deployment and explore the possibilities this technology enables for future applications.”
Veea’s hyperconverged edge network solution provides mining companies in the region with the comprehensive connectivity and IoT infrastructure needed to overcome the challenges of operating in a remote environment. By improving asset tracking, enhancing safety, and reducing operational costs, Veea and ICT’s joint solution not only addresses the immediate needs of mining companies today, but also positions them to be able to adapt to future advancements in mining technology.
ICT and Veea developed and will be implementing:
- Bi-Directional WiFi: Reliable wireless connectivity was established from the mine entrance along the roadways to the stocking facilities, ensuring uninterrupted communication.
- IoT Gateways and LoRaWAN Sensors: Veea’s multi-purpose hubs, integrated with LoRaWAN sensors, were deployed to track and monitor weather stations, land movement, and PM2.5 dust levels.
- Edge Computing: Veea’s solution also enabled edge computing capabilities, allowing real-time data processing and decision-making at the edge, reducing latency and improving operational efficiency.
- IoT Meshing and Cloud Connectivity: With IoT meshing, Veea’s hubs created a robust network that could extend the reach of connectivity across the mining operations. The system also connected seamlessly to the cloud, enabling long-term data storage and analysis.
“Our VeeaHub products, with advanced wireless technologies and the ability to run applications locally at the edge of the network, are designed to bridge the connectivity gap cost-effectively in the most remote and underserved areas without the need for a pegged-up satellite connection, providing crucial infrastructure for safer and more efficient operations for mining applications,” said Allen Salmasi, founder and CEO of Veea. “By enabling real-time communication and monitoring, we are dedicated to addressing the needs of mining operators in the most challenging environments while further enhancing safety and environmental oversight with Edge AI.”
About Veea
Veea® makes living and working at the edge simpler and more secure. Veea has unified multi-tenant computing, multiaccess multiprotocol communications, edge storage and cybersecurity solutions through fully integrated cloud- and edge-managed products. Veea’s pioneering Multiaccess Edge Computing (MEC) product developed from the ground up in a compact form factor brings together the functionality typically provided for through any combination of servers, Network Attached Storage (NAS) devices, routers, firewalls, Wi-Fi Access Points (APs), IoT gateways, 4G or 5G wireless access, and Cloud Computing (CC) by means of multiple hardware, software and systems integrated and maintained by IT/OT professionals. Compared to such solutions, Veea Edge Platform offers application responsiveness, bolsters cybersecurity, data privacy and context awareness, and lowers data transport costs as well as total cost of ownership, while providing for easy installation, operations, monitoring and maintenance of edge networks. At the heart of VeeaHub products resides a Linux server with a full-stack virtualized software environment for cloud-native applications that run in Secured DockerTM containers, with a high degree of user data and application isolation, Software Defined Networking (SDN), Network Function Virtualization (NFV) and cybersecurity, delivering hyperconverged networking over a connectivity and computing mesh network. The fully integrated turnkey solution offers end-to-end cloud management of devices, applications and value-added services with Zero Trust Network Access (ZTNA) and, optionally, a highly simplified plug and play 5G-based Secure Access Service Edge (SASE) offering. Veea Edge Platform enables direct connections from the wide area optical fiber, cellular and satellite networks to the local area networks created by a VeeaHub mesh cluster over cellular-like network-managed Wi-Fi and IoT devices - a unique patented capability called network slicing. Veea Developer Portal and development tools provide for rapid development of edge applications, optionally, with Edge AI. Veea has implemented a range of cost-effective solutions for B2B and B2B2C offerings through service providers, channel partners, system integrators, enterprise partners, and government agencies for smart retail, smart construction, smart logistics and warehouses, smart farms and greenhouses, smart buildings, smart schools, smart hospitals, smart museums to smart cities. Veea was formed in 2014 and is headquartered in
About ICT
Established in 2022, in the early stage Inti Cakrawala Teknologi has grown very fast to excel clients’ business requirements by adopting cutting edge digitalization technology. With its founders’ commitment and professionalism in the industry for more than two decades, Inti Cakrawala Teknologi is able to provide suitable technology solutions to support clients’ business requirements. By offering long term business partnerships, Inti Cakrawala Teknologi is committed to serve and assist its clients to run the business more competitive and efficient through good quality comprehensive after sales services. Inti Cakrawala Teknologi is fulfilled with skillful and competent technical support staff. Along with the sales, marketing and administration staff, Inti Cakrawala Teknologi is committed to providing the best possible solutions for its clients. In accordance, Inti Cakrawala Teknologi has established partnership programs with the world’s leading Digitalization technology suppliers.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions.
Examples of forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s upcoming technology deployments in partnership with ICT and anticipated commencement dates. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Veea and ICT’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied upon by any investors as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. If any of these risks materialize or the parties’ assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. There may be additional risks that neither Veea or ICT presently know or that Veea and ICT currently believe are immaterial that could also cause actual results to differ 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 Veea and ICT assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Veea nor ICT gives any assurance that either Veea or Plum will achieve its expectations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241017273012/en/
James Christopherson
Sterling Communications for Veea Inc.
veea@sterlingpr.com
Source: Veea
FAQ
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