Rail Vision's Main Line System Successfully Secures Approval and Certifications and for EU Railway Standards
January 22 2024 - 7:33AM
Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology
company at the forefront of revolutionizing railway safety and the
data-related market, today announced that its Main Line system has
successfully obtained formal certifications for critical European
Union (EU) railway standards, an important achievement that
underscores the Company's dedication to quality, safety, and
innovation in the railway technology market.
With its extensive railway network and robust demand, the EU
offers vast opportunities for railway technologies and represents
the largest absolute market for rail products and services
globally, according to UNIFE World Rail Market. The global digital
railway market size is expected to surpass $100 billion by 2027,
growing at a compound annual growth rate of 9.7%.
"Achieving compliance with these EU standards marks a major
milestone for Rail Vision and positions us ahead of the competition
in the Railway technology market," said Noam Shloper, Head of
Quality and Reliability at Rail Vision. "Our team is driven by a
commitment to support product quality and safety above all else,
and we're pleased to complete this important milestone that sets
the stage for accelerated adoption of our Main Line system across
the vast EU market."
Rail Vision's Main Line system is now certified in compliance
with EN 50155, which sets the benchmark for hardware equipment in
railway applications, ensuring the robustness and reliability of
rolling stock components. This compliance demonstrates Rail
Vision's system's ability to withstand the rigorous physical
demands of railway operations. Additionally, the system meets the
requirements of EN 50126, focusing on the specification and
demonstration of Reliability, Availability, Maintainability, and
Safety (RAMS). This standard is crucial in the railway industry, as
it guarantees that the system can be relied upon for consistent
performance and safety. Furthermore, Rail Vision’s system aligns
with EN 50657 standards related to software on board rolling stock.
This compliance ensures that the software integrated into the
Company's Main Line system meets the highest levels of safety and
functionality, crucial for the smooth operation of modern trains.
The Main Line system also adheres to EN 45545 standards related to
fire protection on railway vehicles.
About Rail Vision Ltd.
Rail Vision is a technology company that is seeking to
revolutionize railway safety and the data-related market. The
Company has developed cutting-edge, artificial intelligence based,
industry-leading technology specifically designed for railways. The
Company has developed its railway detection and systems to save
lives, increase efficiency, and dramatically reduce expenses for
the railway operators. Rail Vision believes that its technology
will significantly increase railway safety around the world, while
creating significant benefits and adding value to everyone who
relies on the train ecosystem: from passengers using trains for
transportation to companies that use railways to deliver goods and
services. In addition, the company believes that its technology has
the potential to advance the revolutionary concept of autonomous
trains into a practical reality. For more information please visit
https://www.railvision.io/
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act and
other 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, the Company is using
forward-looking statements when it discusses the vast opportunities
for railway technologies, the expected growth of the global digital
railway market and the accelerated adoption of the Company’s Main
Line system across the vast EU market. Forward-looking statements
are not historical facts, and are based upon management’s current
expectations, beliefs and projections, many of which, by their
nature, are inherently uncertain. Such expectations, beliefs and
projections are expressed in good faith. However, there can be no
assurance that management’s expectations, beliefs and projections
will be achieved, and actual results may differ materially from
what is expressed in or indicated by the forward-looking
statements. Forward-looking statements are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in the forward-looking
statements. For a more detailed description of the risks and
uncertainties affecting the Company, reference is made to the
Company’s reports filed from time to time with the Securities and
Exchange Commission (“SEC”), including, but not limited to, the
risks detailed in the Company’s annual report on Form 20-F filed
with the SEC on March 23, 2023. Forward-looking statements speak
only as of the date the statements are made. The Company assumes no
obligation to update forward-looking statements to reflect actual
results, subsequent events or circumstances, changes in assumptions
or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws. If the
Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements. 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. Rail Vision is not responsible for the contents of
third-party websites.
ContactsShahar Hania Chief Executive Officer Rail Vision
Ltd. 15 Ha'Tidhar St Ra'anana, 4366517 Israel Telephone: +972-
9-957-7706
Investor Relations:Dave Gentry, CEO RedChip Companies Inc.
407-491-4498 RVSN@redchip.comSOURCE: Rail Vision Ltd.
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