Foresight Successfully Completes Technological Demonstrations for Leading Vehicle Manufacturers & Tier One Suppliers in Germany
October 16 2019 - 2:30AM
Business Wire
All the vehicle manufacturers and Tier One
suppliers expressed interest in purchasing prototypes of the
QuadSight™ vision system for evaluation
Foresight Autonomous Holdings Ltd., an innovator in automotive
vision systems (Nasdaq and TASE: FRSX), today announced that the
company recently completed a series of successful technological
demonstrations of its QuadSight vision system for two leading
German vehicle manufacturers (OEMs), two leading German Tier One
suppliers, one leading French Tier One Supplier and one leading
German defense OEM. These real-time demonstrations offer potential
customers the chance to experience the company’s unique solution
firsthand and follow similar technological demonstrations that were
recently carried out in Japan, France and the United States.
Germany is recognized for its outstanding automotive industry
and engineering quality, positioning it as a technology leader for
the autonomous vehicle market. Foresight’s breakthrough four-camera
vision system, offering exceptional obstacle detection capabilities
for semi-autonomous and autonomous vehicles, can help to accelerate
the German automotive market’s technological progress.
The technological demonstrations consist of testing the
QuadSight system in different predefined scenarios on the
customer’s premises. To date, the system has successfully achieved
100% obstacle detection in all simulated scenarios including fog,
rain, and extreme lighting conditions.
After witnessing the outstanding demonstrated performance of the
QuadSight system, all the vehicle manufacturers and Tier One
suppliers expressed interest in purchasing prototypes of the
QuadSight system for further evaluation.
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
that real-time demonstrations offer potential customers the chance
to experience the company’s unique solution firsthand, and that
after witnessing the performance of the QuadSight system, all the
vehicle manufacturers and Tier One suppliers expressed interest in
purchasing prototypes of the QuadSight system for further
evaluation. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20191015006008/en/
Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
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