Foresight: Eye-Net Successfully Completes Trial with a Top Global Vehicle Manufacturer
March 01 2021 - 8:00AM
Business Wire
The trial is part of a pilot project with the intelligent
transport system division of a Japanese vehicle manufacturer for
possible integration into a smart city project
Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), an
innovator in automotive vision, announced today that its wholly
owned subsidiary, Eye-Net Mobile Ltd., successfully completed a
controlled trial of its Eye-Net™ Protect cellular-based accident
prevention solution for the intelligent transport system division
of a multi-billion-dollar global Japanese vehicle manufacturer. The
trial, supervised by Blue and White Robotics (BWR), was designed to
demonstrate Eye-Net’s advanced capabilities of protecting vehicles
from oncoming collisions. The trial was streamed in real time from
the test ground in Israel to the Japanese vehicle manufacturer. The
trial is part of a pilot project with the vehicle manufacturer for
possible integration into the vehicle manufacturer’s smart city
project, as reported by the Company in January 2021.
The Eye-Net Protect system was tested in several predefined
accident-simulated scenarios at various speeds to test the system
for repeatability, detection accuracy and alert timing. The
scenarios included vehicles that had no direct line of sight. In
all cases, the participants in the trial used the Eye-Net Protect
application installed on their smartphones and in-vehicle
infotainment system.
The Eye-Net Protect system demonstrated a 95.54% success rate in
all tested scenarios. All users were alerted on time, approximately
2.4 seconds before reaching the intersection, at around 3 feet or
one meter away from the required alert location. A high level of
accuracy and consistency was shown as all participating vehicles
consistently stopped approximately 10 feet or 3 meters away from
the required location in order to prevent oncoming collisions. The
Eye-Net Protect system proved its robustness and reliability by
operating 100% of the time with zero crashes or errors during the
entire trial day.
“The trial day was successful and Eye-Net’s system showed
impressive capabilities. The system operated without interruption,
delivered alerts in real time, and allowed all participants to
brake safely before entering the intersection. The system
demonstrated repeatability, accuracy and stability. BWR has
extensive experience in safety systems for the automotive industry,
and we believe that Eye-Net’s technology has the ability to save
lives and could be integrated as a product in the field of road
accident prevention,” said Amir Peleg, VP Mobility Solutions at
Blue White Robotics.
“Eye-Net successfully completed another controlled trial and met
all predefined objectives and key performance indicators,
demonstrating Eye-Net Protect’s system capabilities. The system
configuration used in the trial was almost identical to the
production configuration, mimicking real-life situations with
almost no safety margins,” said Dror Elbaz, COO & Deputy CEO of
Eye-Net Mobile. ”The test results confirm that the Eye-Net
technology and product are ready for commercial deployment and may
bring outstanding added value to all road users in general and to
the automotive industry in particular.”
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. 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, sensor fusion and dense 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
that Eye-Net’s technology has the ability to save lives and could
be integrated as a product in the field of road accident
prevention, and that the Eye-Net technology and product are ready
for commercial deployment and may bring outstanding added value to
all road users in general and to the automotive industry in
particular. 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/20210301005460/en/
Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
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