GlobeNewswire Inc | Jan 21, 2022 07:00AM EST

January 21, 2022

MESA, Ariz., Jan. 21, 2022 (GLOBE NEWSWIRE) -- Iveda (OTCQB: IVDA), the worldwide provider ofIvedaAI intelligent video search technology, Sentir video surveillance products, IvedaPinpoint and IvedaHome IoT (Internet of Things) platforms with smart devices, today announced the launch of its commercial-grade, AI-driven Ultraviolet Germicidal Irradiation (UVGI) product. This product is the newest addition to Ivedas smart city portfolio.

With the prevalence of the COVID-19 virus in our lives and its continuous mutation, we may have to assume that its not going away, said David Ly, CEO of Iveda. Common hygiene, social distancing and masking may not be enough to minimize the spread of the virus. As such, we offer a sensible solution to potentially irradicate all kinds of bacteria and viruses, including COVID-19.

Ivedas solution adds UV lights to standard HVAC vents for quick, easy and inexpensive deployment to homes and commercial buildings. Leveraging existing air circulation system, Iveda Smart UVC vents will disinfect the air by irradiating UV light on the passing air. This eliminates manually disinfecting offices, meeting rooms and other work spaces.

Until herd immunity through vaccination and previous infections is achieved, technologies like Iveda Smart UVC in mass deployments can make a significant difference in getting back to some semblance of normalcy, especially in the workplace.

In a study, conducted at the University of Milan and the Italian National Institute for Astrophysics, researchers have found that it is possible to completely inactivate COVID-19 virus using short wavelength Ultraviolet (UVC) Germicidal Irradiation (UVGI).

From our engagements with our partners, specifically in South Africa and the Middle East, we are hearing that consumer interest has increased not only in volume, but in the degree of urgency as we turn the corner into post-lockdown mode, added Ly.

As businesses reopen, many companies are exploring ways to reassure employees that they are being creative in ensuring their safety in the workplace. Iveda Smart UVC technology will help address this concern over air quality.

We expect to see more collaborations in this area, especially in the current environment. UVC manufacturers will need to find partners within the industry to offer end-user solutions to the market that can safely and quickly bolt on to existing infrastructure without requiring expensive remodeling or replacement of current HVAC systems, said Ly.

According to Allied Markets Research, in 2021, the UV disinfection equipment market grew to USD 4.75 billion and is estimated to grow to USD 8.46 billion in 2025. Iveda is targeting the surface sterilization and air sterilization/cleaning segments which will grow from USD 2.5 billion in 2022 to USD 4 billion in 2025.

This is not just another UV light product. We added digital technology to an everyday piece of metal or plastic, transforming it into a smart anti-virus system. This becomes an integral component of our smart power solution, said Sid Sung, president of Iveda. Its a real-world example of what digital transformation means.

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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

Iveda (OTCQB: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 received SAFETY Act protections 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.

This release includes forward-looking statements. Actual results may vary materially from those expected. Ivedas business is subject to significant risks and uncertainties described more thoroughly in the Companys SEC filings, including but not limited to its Registration Statement on Form S-1 and Form 10-12g with audited financials for the year ended December 31, 2020 and December 31, 2019 and its subsequently filed quarterly reports on Form 10-Q. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Iveda's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. 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.

Contact:IvedaLuz A. BergChief Marketing Officer & COOTel: +1(480) 307-8700Email: lberg@iveda.com

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