Foresight: Eye-Net Mobile Signs Distribution Agreement with Leading Japanese Trading House Cornes Technologies
October 02 2020 - 7:30AM
Business Wire
Cornes Technologies will promote Eye-Net
Mobile’s cellular-based accident prevention solutions in the
Japanese market
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an
innovator in automotive vision systems, announced today that its
wholly owned subsidiary, Eye-Net Mobile Ltd., signed a distribution
agreement with Cornes Technologies, a leading Japanese trading
house founded in 1900. According to the agreement, Cornes
Technologies will promote and assist in the integration of the
Eye-Net™ cellular-based accident prevention solution suite in
products and applications of third parties in Japan. Cornes
Technologies, a renowned trading company, plays a significant role
in establishing and developing commercial links and trade between
Japan and the rest of the world.
The distribution agreement with Cornes Technologies was signed
following the recently announced pilot projects with leading
Japanese multinational companies for possible integration of the
Eye-Net Protect solution into advanced dashboard cameras and IoT
services. Several additional Japanese companies have expressed
interest in Eye-Net Mobile’s cellular-based accident prevention
solutions.
“The Japanese technology market is very versatile and addresses
multiple verticals such as micro-mobility, smart devices,
automotive manufacturers, telecommunication companies and
smartphone manufacturers, as well as third-party application
providers. Characterized by early adopters of new technologies, we
believe that the Japanese technology market is a suitable target
for Eye-Net Mobile’s solution. Moreover, we are confident that
Cornes Technologies will utilize its extensive experience and
relationships in this market to assist in current engagements and
further market penetration,” said Dror Elbaz, COO and Deputy CEO of
Eye-Net Mobile.
The Eye-Net Protect V2X solution is designed to protect the most
vulnerable road users in real time — including pedestrians,
cyclists, scooter drivers and car drivers — by providing collision
alerts when road users have no direct line of sight. An SDK
configuration allows Eye-Net Mobile to integrate its solution into
leading location-based products such as wearable devices, dashboard
cameras, navigation aids, infotainment systems, third-party
applications and other smart devices.
For more information about Eye-Net Mobile, please visit
www.eyenet-mobile.com, or follow the Company’s LinkedIn page,
Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel,
Eyenetmobile1, the contents of which are not incorporated into this
press release.
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 Advanced Driver Assistance Systems (ADAS), 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 about Foresight and its wholly owned
subsidiary, Foresight Automotive, visit www.foresightauto.com,
follow @ForesightAuto1 on Twitter, or join Foresight Automotive on
LinkedIn.
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
the distribution agreement with Cornes Technologies, that Cornes
Technologies, will promote Eye-Net Mobile’s cellular-based accident
prevention solutions in the Japanese market, that several
additional Japanese companies have expressed interest in the
Eye-Net Mobile’s cellular-based accident prevention solutions, the
potential of the Japanese market, and the potential of the
Company’s products. 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 annual report on Form 20-F filed with the Securities
and Exchange Commission ("SEC") on March 31, 2020, 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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version on businesswire.com: https://www.businesswire.com/news/home/20201002005188/en/
Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
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