UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private
Issuer
Pursuant to Rule 13a-16
or 15d-16
under the Securities Exchange
Act of 1934
For the month of February
2024
Commission file number: 001-41334
RAIL VISION LTD.
(Translation of registrant’s
name into English)
15 Ha’Tidhar
St
Ra’anana, 4366517
Israel
(Address of principal
executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form
40-F ☐
CONTENTS
Attached hereto and incorporated herein is the
Registrant’s press release issued on February 5, 2024, titled “Rail Vision Receives Patent Approval from the Indian Patent
Office.”
The first four paragraphs in the press
release attached as Exhibit 99.1 are incorporated by reference into the Registrant’s Registration Statements on Form
F-3 (File Nos. 333-271068 and 333-272933)
and Form S-8 (Registration No. 333-265968), filed with the
Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not
superseded by documents or reports subsequently filed or furnished.
EXHIBIT
INDEX
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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Rail Vision Ltd. |
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Date: February 5, 2024 |
By: |
/s/ Ofer Naveh |
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Name: |
Ofer Naveh |
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Title: |
Chief Financial Officer |
3
Exhibit 99.1
Rail Vision Receives Patent Approval from
the Indian Patent Office
India has the fourth largest railway network
with over 22,593 operating trains with a daily passenger count of 24 million passengers and 203.88 million tons of freight
Ra’anana, Israel, Feb. 05, 2024 (GLOBE
NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway
safety and the data-related market, today announced it was granted a patent approval from the Indian Patent Office.
The patent, titled “SYSTEM AND METHOD
FOR OBJECT AND OBSTACLE DETECTION AND CLASSIFICATION IN COLLISION AVOIDANCE OF RAILWAY APPLICATIONS”, has already approved
in the US and Japan and is pending approval in Europe and China.
The patent covers the method for detection
and identification of objects and obstacles near, between or on railway. The method refers to several forward-looking imagers adapted
to cover all vision ranges and is also sensitive to each different wavelength of radiation. Electro optic sensors (e.g. thermal
infrared imaging sensor and visible band imaging sensor) are used to survey and monitor railway scenes in real time.
Rail Vision’s Main Line system utilizes advanced
vision sensor technology, incorporating engineering, big data, and AI that is installed directly on trains. This system is capable of
collecting data, including weather information, in real time and from remote locations accessible exclusively by railway routes.
“India, with its vast and busy railway
network, is a huge potential market for our advanced technology,” said Shahar Hania, Rail Vision’s Chief Executive Officer. “The
approval of our patent, already recognized in the US and Japan and pending in Europe and China, reinforces our commitment to enhancing
railway safety and operational efficiency worldwide.”
According to India Brand Equity Foundation,
a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, India has the fourth largest
railway network in the world with over 22,593 operating trains (9,141 freight and 13,452 passengers) with a daily passenger count of 24
million passengers and 203.88 million tons of freight. In 2022, passenger traffic stood at 3.54 billion as compared to 1.28 billion in
2021. Total revenue from traffic in India for 2022-23 is estimated to be $28.93 billion, an increase of 19% over revised estimates for
2021-22. Freight revenue in India is estimated to be $19.92 billion in 2022-23, an increase of 14% over the revised estimates for 2021-22.
The passenger revenue in India is estimated to be $ 7.06 billion, an increase of 32% over a low base in 2021-22.
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 huge potential market for the Company’s
advanced technology and the Company’s commitment to enhancing railway safety and operational efficiency worldwide. In addition,
the Company cannot assure that any patent will issue as a result of a pending patent application or, if issued, whether it will issue
in a form that will be advantageous to the Company. 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.
Investor Relations
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
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