Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX),
an innovator in automotive vision systems, today announced that its affiliate,
Rail Vision Ltd. (for which Foresight owns approximately 24% outstanding
shares), received its first commercial order from a leading European train
operator. According to the update, the order consists of the purchase of an
Assisted Remote Shunting prototype system and an Operational Functional Test
(“OFT”) for a total value of approximately 500,000 Euro. The OFT of the system
is scheduled for Q4 2020, and a commercial agreement with the leading European
train operator detailing future phases is expected to be signed in the upcoming
weeks. Successful testing of Rail Vision’s Assisted Remote Shunting prototype
could entail the purchase of approximately 30 shunting yard systems for an
additional 2.5 million Euro. The European train operator may also elect to
exercise its option to purchase an additional 45 shunting yard systems for a
total value of 3.5 million Euro.
To view the full press release, visit http://ibn.fm/IBjJv
About Foresight
Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX),
founded in 2015, is a technology company engaged in the design, development and
commercialization of sensors 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
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment