Foresight: Eye-Net and SoftBank Corp. Collaborate to Introduce Cross-Collision Prevention V2X Solution Utilizing 5G MEC
August 31 2023 - 6:35AM
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. (“Eye-Net” or “Eye-Net
Mobile”), has signed an agreement for a paid proof of concept (POC)
project with SoftBank Corp. (Tokyo: 9434) (“SoftBank”), a
Japan-based telecommunications and IT operator. The POC project is
part of a multiphase work plan which could potentially lead to a
commercial deployment of Eye-Net’s solutions in the Japanese market
through SoftBank’s multiple business partners, including vehicle
manufacturers, third-party applications, local authorities, and
insurance companies.
SoftBank recognized Eye-Net’s accuracy and road
safety potential following more than three years of extensive
validation of Eye-Net’s cellular-based vehicle-to-everything (V2X)
technology. As a result, Softbank initiated a POC project aiming to
validate the integration of Eye-Net’s server-side technology with
SoftBank’s multi-access edge computing (MEC) infrastructure.
Successful completion of this integration is a prerequisite for the
deployment of Eye-Net’s solutions in the Japanese market.
The POC project is expected to be completed by
the end of 2023. Going forward, SoftBank plans to conduct
verification tests with the aim of providing collision prevention
solutions for cross-collisions to local governments or corporate
customers in a wide range of industries and business categories in
Japan.
“Eye-Net Mobile's distributed collision
prediction and prevention technology is a groundbreaking initiative
that will accelerate the realization of the "next-generation
infrastructure" that SoftBank is aiming for,” said Hironobu Tamba,
Vice President and Head of Data Platform Strategy Division at
SoftBank. “Combined with the computing resources distributed across
the mobile network, it is expected to make a significant
contribution to the realization of a nationwide urban
transportation infrastructure that encompasses multiple cities that
are physically separated from each other. Through this validation
process, we hope to demonstrate new possibilities for Japan's next
generation transportation systems,” Mr. Tamba concluded.
“We are honored to be selected by SoftBank as
their preferred V2X solution after undergoing an extensive
three-year technological due diligence process. This vote of
confidence reaffirms our dedication to providing cutting-edge
solutions that enhance the safety of all road users," said Dror
Elbaz, CEO of Eye-Net Mobile. "The potential extensive commercial
deployment will introduce a new social road safety approach that
might allow our accident prediction and prevention solution to
protect millions of users in Japan from non-line-of-sight
collisions and contribute to a safer mobile society,” Mr. Elbaz
concluded.
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) is a technology company developing smart multi-spectral
vision software solutions and cellular-based applications. Through
the Company’s wholly owned subsidiaries, Foresight Automotive Ltd.,
Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd.,
Foresight develops both “in-line-of-sight” vision systems and
“beyond-line-of-sight” accident-prevention solutions.
Foresight’s vision solutions include modules of
automatic calibration and dense three-dimensional (3D) point cloud
that can be applied to different markets such as automotive,
defense, autonomous vehicles, and heavy industrial equipment.
Eye-Net Mobile’s cellular-based solution suite provides real-time
pre-collision alerts to enhance road safety and situational
awareness for all road users in the urban mobility environment by
incorporating cutting-edge AI technology and advanced
analytics.
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 potential for commercial deployment of Eye-Net’s solution in
the Japanese market, timing of the expected completion of the POC
project, SoftBank’s plans to conduct verification tests with the
aim of providing collision prevention solutions for
cross-collisions to local governments or corporate customers in a
wide range of industries and business categories in Japan, and the
advantages and benefits of Eye-Net’s technology and solution.
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 30, 2023, 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.
Investor Relations Contact: Miri
Segal-SchariaCEOMS-IR LLCmsegal@ms-ir.com917-607-8654
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