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://nnw.fm/QW1kU
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://nnw.fm/FRSX
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork.