Eye-Net Mobile Successfully Completes Controlled-Environment Trial for the Connected Car Division of a Leading Global Vehicle...
August 14 2019 - 2:30AM
Business Wire
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-environment trial of its Eye-Net™ cellular-based
accident prevention solution for a leading vehicle manufacturer.
The trial, conducted in a designated test track, was designed to
demonstrate Eye-Net’s advanced capabilities of protecting vehicles
and vulnerable road users from oncoming collisions, to test the
system’s performance and robustness, and to discuss possible
suitability of the Eye-Net solution for the connected car platforms
of the leading vehicle manufacturer.
Eye-Net Mobile’s market penetration strategy is directed at
potential partners, such as this leading vehicle manufacturer and
location-based service providers. Integrating Eye-Net as a feature
in the partners’ applications at a very early stage in order to
optimize the solution to their needs will help facilitate Eye-Net’s
rapid market penetration, thus reaching millions of users. A
controlled trial demonstrating the system’s capabilities will help
to engage potential partners and present the potential of the
solution and its advantages in the commercialization phase. The
Company believes that such cooperation will add substantial value
to potential strategic partners by enhancing their users’
safety.
The controlled-environment trial took place at the conclusion of
Eye-Net Mobile’s large-scale trial (as reported by the Company on
August 12, 2019). Prior to the controlled trial, Eye-Net Mobile
presented a detailed analysis of the large-scale trial’s results to
the leading vehicle manufacturer.
Eye-Net Mobile tested several predefined extreme
accident-simulated scenarios at various speeds up to 80 kilometers
per hour. The scenarios included multiple participants—vehicles,
pedestrians, and cyclists—that had no direct line of sight. In all
cases, the participants in the trial used the Eye-Net application
installed on their smartphones. The Eye-Net system was able to
filter out non-critical events and send real-time alerts only to
the participants who were in potentially unsafe situations, in
order to prevent an oncoming collision. In all scenarios tested,
Eye-Net met all predefined objectives of the controlled-environment
trial.
About Eye-Net™
Eye-Net is a cellular-based vehicle-to-everything (V2X) accident
prevention solution designed to protect the most vulnerable road
users in real time—including pedestrians, cyclists, scooter drivers
and car drivers—by providing collision alerts when the road users
have no direct line of sight. Eye-Net relies on proprietary,
cutting-edge technology, a set of sophisticated algorithms and
advanced system architecture, and existing cellular
infrastructure.
For more information about Eye-Net Mobile, please visit
http://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.
For more information about Foresight and its wholly owned
subsidiary, Foresight Automotive, please visit
www.foresightauto.com, follow @ForesightAuto on Twitter, or join
Foresight Automotive on LinkedIn, 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 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.
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 of its and its subsidiary’s products, Eye-Net
Mobile’s market penetration strategy, that early integration of
Eye-Net in partners’ applications will help facilitate Eye-Net’s
rapid market penetration, thus reaching millions of users, and that
a controlled trial demonstrating the system’s capabilities will
help to engage potential partners and present the potential of the
solution and its advantages in the commercialization phase. 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 20, 2019, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190813005823/en/
Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From Sep 2023 to Sep 2024