Foresight Successfully Completes Technological Demonstrations for Leading Vehicle Manufacturers & Tier One Suppliers in Unite...
July 08 2019 - 9:25AM
Business Wire
Demonstrations of the QuadSight™ vision system
were performed in the Silicon Valley area and Detroit with the
assistance and support of FLIR Systems
Foresight Autonomous Holdings Ltd., an innovator in automotive
vision systems (Nasdaq and TASE: FRSX), today announced that last
week the company successfully completed a series of technological
demonstrations of its QuadSight vision system in the United States
for five leading vehicle manufacturers (OEMs) and six Tier One
suppliers. These demonstrations follow successful technological
roadshows that were recently carried out in Japan and France.
The current series of technological demonstrations was carried
out in the Silicon Valley area and in Detroit, with the assistance
and support of FLIR Systems, a world-leading industrial technology
company focused on intelligent sensing solutions. During the
Silicon Valley roadshow, Foresight also presented its QuadSight
vision system at FLIR’s booth in the Autonomous Vehicle Sensors
Conference in San Jose, California.
Foresight’s technological roadshows offer potential customers
the chance to experience the company’s unique solution firsthand.
The QuadSight system is tested 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, multiple American OEMs 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 multiple American OEMs 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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Investor Relations Miri Segal-Scharia CEO MS-IR LLC
msegal@ms-ir.com 917-607-8654
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