GlobeNewswire Inc | May 17, 2021 08:30AM EDT

May 17, 2021

MESA, Ariz., May 17, 2021 (GLOBE NEWSWIRE) -- Iveda Solutions, Inc.(OTC: IVDA) ("Iveda" or the "Company"), the worldwide provider ofIvedaAIintelligent video search technology, Sentir video surveillance products, IvedaPinpointand IvedaHomeIoT (Internet of Things) platforms with smart devices, today announced that the Company signed a new contract for $1.5 million (NTD 42 million) with Taiwan Taoyuan International Airport.

Taiwan Taoyuan International Airport is an international airport serving Taipei and northern Taiwan. It is Taiwans largest and busiest airport. The scope of the project includes the expansion of the airports facility management system and power monitoring of its 161KVA high voltage transformer station. The project is expected to begin this month.

Taoyuan Airport has been a customer for many years and Im grateful for their continued reliance on the solutions and the expertise we offer, said I.H. Shiau, president of Iveda Taiwan.

Iveda plans to work with Siemens to build a new SCADA (supervisory control and data acquisition) system using the airports metasystem database. The goal is to reduce functional limitations and improve the alerting system for early awareness of anomalies.

Siemens RTU-A8000 will be adoptedto initiate airport smart signal collection to comply with international security regulations. This will integrate a wide range of energy sources and will be used in utility and power transmission, as well as distribution. The new system will ensure a smooth and safe operation. It will also improve the human-machine interface while increasing thenumber of SQLdata storage points for future report consolidation of energy-saving data.

Iveda plans to establish a facility management system utilizing a virtual machine platform and a geographic information system (GIS). The all-encompassing system includes the following functions: database management, alarm processing, maintenance management, permission authentication, network management and power monitoring.

Iveda plans to introduce the IvedaSPS (Smart Power Solution) and its smart utility cabinet as part of the overall solution.

The facility management system will integrate the management of Taoyuan Airports power and electrical mechanical systems. Fire alarm and related systems will be monitored utilizing GIS to provide spatial information for immediate notification and coordination of necessary actions.

Over the years, weve successfully demonstrated our capability to deploy smart city solutions, said David Ly, CEO of Iveda. As we develop new technology to fuel the digital transformation of many cities, Iveda is leading the charge in making cities worldwide, truly smart.

A 3D Building Information Modeling (BIM) will be built following equipment modification standards and the structural design of the project to ensure the quality of construction services. This will allow engineers to have visibility of the electrical-mechanical infrastructure behind the wall in 3D.

Iveda and Sentir are registered trademarks of Iveda Solutions, Inc. IvedaAI, IvedaPinpoint and IvedaHome are trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.

About Iveda Solutions Inc.

Iveda Solutions Inc.(OTCMKTS:IVDA) specializes in IoT platforms that offer service providers a turn-key cloud video surveillance system, smart sensors and intelligent video search technology. Iveda utilizes proprietary command center, big data storage and deep-learning algorithms. Iveda has a SAFETY Act Certification from the U.S. Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol IVDA. For more information call (480) 307-8700 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions,www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.

Forward-Looking Statements Disclaimer

This release includes forward-looking statements. Actual results may vary materially from those expected. Ivedas business is subject to significant risks and uncertainties. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

For more information, please contact

IvedaLuz A. BergChief Marketing Officer & GM480 307-8700lberg@iveda.comorDragon Gate Investment Partners LLCTel: +1(646)-801-2803Email: IVDA@dgipl.com