MESA, Ariz.--(BUSINESS WIRE)--Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI, today announced a second patent for its recently launched liquid storage management solution, LevelNOW. This update features a specialized vent cap designed for standard 200-liter steel oil drums, providing a first-of-its-kind solution for industries that manage oil and gas. The vent cap valve uses a conductor sensor with an innovative magnetic end to keep the fluid level sensor taut and perpendicular to ensure accurate fluid measurement and to help prevent spills, leaks and evaporation. Leveraging advanced IoT sensors, LevelNOW offers real-time monitoring and control, signaling to a wireless gateway outside the drum to reduce costly losses and improve operational efficiency.
Data Bridge Market Research analyzes that the global steel drums market will grow to USD 17.87 billion by 2030. As more oil and gas companies source solutions to reduce wasted material and improve safety, Iveda’s patented vent cap provides an easy-to-install and reliable way to manage liquid levels in large storage steel drums. Boasting a unique and versatile design, ideal for a range of use cases, the new LevelNOW cap sensor can fit various container sizes and can be used for liquids outside oil and gas –including large containers of sauces, and milk, and other liquids. The sensor communicates with Iveda’s revolutionary LevelNOW online platform enabling easy, real-time management.
“Iveda continues to remain dedicated to solving the real-world problems of our customers. Following our previous LevelNOW patent, we recognized the need for specialized vent caps to help prevent wasted materials and revenue,” said David Ly, CEO and founder of Iveda. “Iveda is focusing on providing a holistic liquid storage management system and our new patented vent cap provides a complete ecosystem for LevelNOW—which saves time and provides major cost savings.”
Uniquely designed, the vent cap valve connector and sealing device ensures easy installation and removal without compromising the steel drum's seal, and the magnetic end prevents reverse connections, enhancing the system's reliability and safety. The ability to leverage IoT sensors––specifically those that work with existing equipment to communicate data to the LevelNOW platform––allows the system to execute data-informed actions on behalf of the human to increase accuracy and productivity, providing significant advancements for the industry overall.
“A major oil company currently deploying the patented LevelNOW proof of concept (PoC) has provided highly positive feedback, particularly on the user interface. They noted that it precisely delivers the real-time data analytics they require, offering relevant and impactful insights,” said Rakesh Takoo, Managing Director of Auzpack. “The feedback is a clear testament to LevelNOW and Iveda’s ability to assist users in effectively planning and optimizing their supply chain while reducing costs. We are thrilled to continue delivering on this advantage as the pilot progresses toward the company’s original goal of eliminating inefficiencies and waste from existing systems.”
This second patent follows Iveda’s first LevelNOW patent—a customizable IoT sensor, which measures liquid levels externally on containers of various sizes and shapes. By improving safety, enhancing operational efficiency, and providing tangible savings, LevelNOW is revolutionizing liquid storage management, making it an essential tool for companies looking to protect their assets and boost profitability.
To learn more about Iveda’s new patent pending vent cap, and for direct global sales inquiries, please reach out to sales@iveda.com.
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”.
