Cloud Hosting

By Chris Wack

Iveda Solutions Inc. said Wednesday that its products have been included in the Taoyuan Aerotropolis Project in Taiwan.

The company said the project is a large national infrastructure plan, consisting of 10 major construction projects beginning this year with completion expected in 2028.

The project will expand the Taoyuan International Airport in Taiwan, as well as trade and industrial zones. The project will prioritize six industries: biotechnology, cloud computing industry, aviation, international logistics, smart automobile and green energy.

Iveda said included in the project are IvedaXpress IP cameras with its cloud management platform, IvedaAI intelligent video search platform for face recognition, object search and thermal detection, and weather and IR sensors for electric fences.

The IvedaXpress cloud management platform that Iveda built at a Chunghwa Telecom data center will generate recurring cloud hosting revenue for five years. The company said it estimates $5 million to $7 million in revenue from the multiyear project.

On Tuesday, the company closed its previously announced underwritten public offering of 1.9 million common shares, and accompanying warrants to buy 1.9 million shares, at $4.25 a share of common stock and accompanying warrant.

Iveda shares were up 23% to $3.76 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

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Iveda Solutions Products Included in Taiwan Building Project - MarketWatch