Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX),
an innovator in automotive vision systems, today announced that its affiliate,
Rail Vision Ltd., is in advanced negotiations regarding its first commercial
agreement with a leading European train operator. The agreement contemplates
the purchase of a prototype system of Rail Vision’s shunting yard solution for
a total value of approximately 500,000 Euro and, upon successful prototype
evaluation, will entail the purchase of approximately 30 more shunting yard
systems for an additional 2.5 million Euro. In addition, the European train
operator may exercise its option to purchase an additional 45 shunting yard
systems for a total value of 3.5 million Euro. Combining advanced vision
sensors with deep learning technologies, Rail Vision’s solution enables railway
operators to safeguard and streamline their shunting operations, automatically
detecting and classifying objects within a 200-meter range at all times of day
and in all weather conditions.
To view the full press release, visit http://ibn.fm/ik3eJ
About Foresight
Foresight Autonomous Holdings Ltd., founded in 2015, is a
technology company engaged in the design, development and commercialization of
sensor systems for the automotive industry. Through the company’s wholly owned
subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight
develops both “in-line-of-sight” vision systems and “beyond-line-of-sight”
cellular-based applications. Foresight’s vision sensor is a four-camera system
based on 3D video analysis, advanced algorithms for image processing, and
sensor fusion. Eye-Net Mobile’s cellular-based application is a V2X
(vehicle-to-everything) accident prevention solution based on real-time spatial
analysis of clients’ movement. The company’s systems are designed to improve
driving safety by enabling highly accurate and reliable threat detection while
ensuring the lowest rates of false alerts. Foresight is targeting the
semi-autonomous and autonomous vehicle markets and predicts that its systems
will revolutionize automotive safety by providing an automotive-grade,
cost-effective platform and advanced technology. For more information, visit
the company’s website at www.ForesightAuto.com
NOTE TO INVESTORS: The latest news and updates
relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
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