Foresight Demonstrates Proof of Concept of Its Multispectral Advanced Driver Assistance System
July 05 2017 - 2:00AM
Business Wire
Foresight Autonomous Holdings Ltd., a leading developer of
Advanced Driver Assistance Systems (TASE and NASDAQ:FRSX),
announced today that following a number of field tests conducted
with a prototype, it has successfully completed proof of concept of
its multispectral road traffic accident prevention system, which
features both thermal and visible light cameras. In light of the
emerging market demand for such products and the successful proof
of concept completion, the company has decided to continue the
rapid development of the system, which will include advanced image
processing algorithms, and the consolidation, control and
cross-checking of all data received from the system cameras.
Foresight estimates that it will be able to complete development of
a real-time demonstration within three months.
The new system is designed to provide multispectral vision
capabilities, by combining four cameras operating at varying
wavelengths (beyond human vision capabilities), thereby presenting
a comprehensive solution for the front of the vehicle, which will
detect all obstacles under any weather and lighting conditions,
including complete darkness, smoke, haze, fog, rain and glare.
Currently, the company is unaware of any other commercially
available systems with these capabilities.
About Foresight
Foresight (TASE and NASDAQ: FRSX), founded in 2015 is a
technology company engaged in the design, development and
commercialization of Advanced Driver Assistance Systems (ADAS)
based on 3D video analysis, advanced algorithms for image
processing and artificial intelligence. The company, through its
subsidiary, 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
alert drivers to threats that might cause accidents, resulting from
traffic violations, driver fatigue or lack of concentration, etc.,
and to enable highly accurate and reliable threat detection while
ensuring the lowest rates of false alerts. The company estimates
that its systems will revolutionize ADAS 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, when Foresight describes
emerging market demand for accident prevention systems, and that it
will be able to complete development of a real-time demonstration
of the multispectral Advanced Driver Assistance System within three
months, it is using forward-looking statements. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170704005364/en/
INVESTOR RELATIONS:MS-IR LLCMiri Segal-Scharia,
917-607-8654CEOmsegal@ms-ir.com
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