Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced that its wholly owned subsidiary, Eye-Net Mobile Ltd., has signed a collaboration agreement with NoTraffic Ltd., which has developed a novel and proprietary platform solution that solves today’s traffic challenges while unlocking mobility benefits for traffic agencies. According to the update, the Autonomous Traffic Management Platform enables cities for the first time to intelligently implement traffic policy in a seamless way and operate autonomously in order to maximize traffic flow, reduce congestion, prioritize different types of vehicles, and prevent accidents. Under the agreement, the companies will collaborate to develop and optimize the technological abilities of Eye-Net Mobile’s cellular-based V2X accident prevention solution and NoTraffic’s intelligent traffic management solution. “The technological collaboration between Eye-Net Mobile and NoTraffic has the potential to redefine smart infrastructures and road users’ connectivity,” Eye-Net Mobile COO & Deputy CEO Dror Elbaz said in the news release. “Our cooperation will enhance both products and will enable accident prevention in junctions by sharing real-time information between intelligent traffic lights and connected road users. We believe that the combined solution will be adopted by municipalities and smart cities worldwide seeking to promote smart transportation and reduce the number of accidents in urban environments.”
To view the full press release, visit http://ibn.fm/d9i5c
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
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