Foresight: Eye-Net Successfully Completes First Pilot Phase with a Top Global Vehicle Manufacturer
March 12 2021 - 8:30AM
Business Wire
The Japanese vehicle manufacturer has concluded
that the Eye-Net™ solution is a valid option for its 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 the
first phase of a pilot project with the intelligent transport
system division of a multi-billion-dollar global Japanese vehicle
manufacturer. The vehicle manufacturer reviewed the performance of
the Eye-Net™ Protect accident prevention solution and subsequently
concluded it is a valid option for the safety traffic system of its
smart city project. Following the results of the first phase, the
vehicle manufacturer will initiate technical discussions between
Eye-Net and the smart city constructor, progressing towards
possible integration into its smart city project.
This announcement follows the Company’s March 1st, 2021
announcement about Eye-Net’s successful completion of a
controlled-environment trial, which was part of the same pilot
project.
“We are excited to announce the completion of the first phase of
our pilot project with the Japanese vehicle manufacturer after
successfully meeting the vehicle manufacturer’s key performance
indicators. We look forward to completing the next steps defined by
the vehicle manufacturer and possibly integrating the Eye-Net
technology into the Japanese smart city project. This project has
the potential to become a critical catalyst for integrating our
solution into similar smart city projects around the world,” said
Dror Elbaz, COO & Deputy CEO of Eye-Net Mobile.
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 the vehicle
manufacturer will initiate technical discussions between Eye-Net
Mobile and the smart city constructor, progressing towards possible
integration into its smart city project, completing the next steps
defined by the vehicle manufacturer, possibly integrating the
Eye-Net technology into the Japanese smart city project, and that
the project has the potential to become a critical catalyst for
integrating the Company’s solution into similar smart city projects
around the world. 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/20210312005222/en/
Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
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