The technology companies expanding operations into Nevada — like Figure — and those that have set up shop here and have then expanded to other states — like Switch — give Nevada a lot to be excited about these days. Nevada is even attracting attention from international players, like HopeRun, a Chinese Internet of Things (IoT) company that recently invested one million dollars in NevadaNano, the developer and manufacturer of micro-electro-mechanical systems (MEMS) sensors. HopeRun and NevadaNano are working together on a comprehensive industrial IoT infrastructure for reducing emissions of methane, a top priority greenhouse gas.
If you’re not familiar with the term, an IoT device is any physical device that connects to the internet. Amazon’s Alexa is probably the most well known IoT device. But there is IoT everywhere these days. It’s in luggage (making it possible for passengers to track their checked luggage) and in HVAC systems (improving efficiency), in water filters (predicting maintenance needs) and in light switches (saving energy). In fact, what we’re seeing is just the beginning of the IoT boom. By 2020 there will be some 20.4 billion IoT devices, according to the research and advisory firm Gartner – that’s up from 8.4 billion IoT connected devices in 2016.