CORRECTING and REPLACING Interstate Land Management Corporation Greenlights Trial of IvedaAI™ & ClearView Asset Protection

Philadelphia turns to Iveda technology to bolster security across on and off-street parking in Center City garages, surface lots throughout the city, and Airport parking

Please replace the release with the following corrected version due to multiple revisions.

The updated release reads:

INTERSTATE LAND MANAGEMENT CORPORATION GREENLIGHTS TRIAL OF IVEDAAI™ & CLEARVIEW ASSET PROTECTION

Philadelphia turns to Iveda technology to bolster security across on and off-street parking in Center City garages, surface lots throughout the city, and Airport parking

Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI, today announced that the Interstate Land Management Corporation has officially green-lit a trial of IvedaAI™ and ClearView Asset Protection via their patented Smart Tower, in an effort to bolster security in parking areas throughout the city. The project will leverage IvedaAI, an advanced AI solution providing real-time facial recognition, weapon detection, license plate reading, and more. The technology will be integrated into two of ClearView’s customizable security trailers, each equipped with four cameras.

According to the FBI, parking lots are the third most common location for violent crimes to occur, accounting for more than 25% of violent crimes in America. Further, Insurance.com reports that 70% of all hit-and-run crimes involve parked cars, many of which take place in lots and garages. As government officials work to minimize crime in urban areas––from assault, to theft and vandalism––AI is providing a powerful set of eyes to keep citizens safe.

“This collaboration marks a pivotal moment in enhancing public safety across Philadelphia’s parking infrastructure, while underscoring Iveda’s unwavering commitment to building solutions for the betterment of urban areas like Philly,” said David Ly, Iveda CEO and founder. “By harnessing the power of AI, the city is creating safer environments for residents and visitors alike. We anticipate this partnership with ClearView to have a profoundly positive impact on the community and are confident that it will set new standards for urban safety initiatives."

The deployment aims to improve safety in key areas across Philadelphia, including Jackson Street, Front Street, and parking areas under the I-95 overpass, which have become hotspots for criminal activity. In addition to critical safety benefits, the technology will also enable parking lot operations to run smoother. The system can be customized to send alerts to appropriate personnel if a car has been parked in a spot for too long, vehicles are loitering, and more.

“The integration of IvedaAI into ClearView’s mobile surveillance systems represents a trailblazing offering in the physical security space,” added Lance Thomas, President of ClearView Asset Protection. “Together, we’re providing a scalable, cost-effective solution to enhance public safety while reducing the need for manpower. We’re eager to see the positive impact the technology will have on the city of Philadelphia.”

This successful trial run is slated to pave the way for broader deployment across Philadelphia as well as other cities across the country.

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”.

About ClearView Asset Protection

ClearView Asset Protection gives users round the clock remote video access to your location, no matter the time, temperature or weather. We customize systems to fit user needs. State-of-the-art features include 360-degree site coverage, auto tracking, infrared, pan-tilt-zoom, heat-seeking, facial detection, license plate readers, and more.

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