Foresight Completes a Successful Demonstration Series with its Cellular-Based Eye-Net™ System for Accident Prevention
February 12 2018 - 1:56AM
Business Wire
Eye-Net™ is a cellular-based solution, designed
to prevent accidents between vehicles and between vehicles and
pedestrians
Foresight Autonomous Holdings Ltd., an innovator in automotive
vision systems (NASDAQ and TASE: FRSX), announced today that it has
completed a demo version of its new Eye-Net™ accident prevention
system, and has carried out a series of successful demonstrations.
Eye-Net™ is a V2X (vehicle to everything) cellular-based accident
prevention solution, designed to provide real-time pre-collision
alerts to pedestrians and vehicles, by using smartphones and
relying on existing cellular networks.
The Eye-Net™ system is designed to provide a complementary layer
of protection beyond traditional advanced driver assistance systems
and extend protection to road users who are not in direct line of
sight, and not covered by other alerting systems. The Eye-Net™
system is designed to identify an oncoming collision before the
parties involved are able to see each other, and it provides an
alert that will allow such parties to stop in a safe and timely
manner.
By using cellular-based technology, Foresight is creating a
solution that will be available to anyone, eliminating the need for
designated hardware and a long regulatory process.
The company has performed more than 15 successful
demonstrations, during which it presented early detection
capabilities and collision prevention between vehicles moving
towards each other at a 90-degree angle, with no direct eye contact
between them. An additional scenario was presented, preventing an
accident between vehicles and a pedestrian jumping out in
front of an oncoming vehicle. In all the demonstrations, the system
successfully alerted the users in a manner that enabled them to
brake safely and on time.
Over the past two quarters, the company has significantly
accelerated the development of the Eye-Net™ system and has focused
on improving user location evaluation accuracy, compensation for
network latency, and resource consumption.
The company estimates that it will be able to complete the
development of the system’s alpha version by the end of the first
quarter of 2018 and is planning to conduct a first multi-user trial
in which dozens of vehicles will use the system simultaneously, in
a way that the company estimates will demonstrate its efficiency in
a variety of real-time scenarios.
“Cellular phones are available to every person and driver, and
our vision is to use them to reduce the number of traffic accidents
that occur in urban environments,” said Haim Siboni, CEO of
Foresight. “Our system, designed for use on Android and iOS-based
mobile phones, has shown impressive results and we intend to
continue the development process and carry out a large-scale urban
trial later on. The system is designed for integration, cooperation
and collaboration with major technology providers, cellular network
operators and device manufacturers, in order to achieve extensive
exposure to life-saving technology."
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 stereo/quad-camera vision
systems for the automotive industry based on 3D video analysis,
advanced algorithms for image processing and sensor fusion. The
company, through its wholly owned subsidiary Foresight Automotive
Ltd., develops advanced systems for accident prevention, which are
designed to provide real-time information about the vehicle's
surroundings while in motion. The systems are designed to improve
driving safety by enabling highly accurate and reliable threat
detection while ensuring the lowest rates of false alerts. The
company’s systems are targeting the Advanced Driver Assistance
Systems (ADAS), semi-autonomous and autonomous vehicle markets. The
company estimates that its systems will revolutionize automotive
safety by providing an automotive grade, cost-effective platform,
and advanced technology.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates" and similar expressions
or variations of such words are intended to identify
forward-looking statements. For example, Foresight is using
forward-looking statements in this press release when it discusses
creating a solution that will be available to anyone, eliminating
the need for designated hardware and a long regulatory process,
completing the development of the system’s alpha version by the end
of the first quarter of 2018, and that it is planning to conduct a
first multi-user trial. Because such statements deal with future
events and are based on Foresight’s current expectations, they are
subject to various risks and uncertainties and actual results,
performance or achievements of Foresight could differ materially
from those described in or implied by the statements in this press
release.
The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties,
including those discussed under the heading "Risk Factors" in
Foresight's registration statement on Form 20-F filed with the
Securities and Exchange Commission ("SEC") on June 1, 2017, and in
any subsequent filings with the SEC. Except as otherwise required
by law, Foresight undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Foresight is not responsible for the contents of third party
websites.
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Investor Relations:Miri Segal-Scharia,
917-607-8654CEOMS-IR LLCmsegal@ms-ir.com
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