NESS ZIONA, Israel--(BUSINESS WIRE)-- Foresight Autonomous Holdings Ltd., a leading developer of Advanced Driver Assistance Systems (NASDAQ, TASE: FRSX), announced today that as reported by Rail Vision, (24.76% owned by Foresight) the board of directors of Rail Vision has approved to examine the possibility of listing Rail Vision's shares on NASDAQ.
About Rail Vision
Rail Vision was founded in January 2015, and it focuses on the development of a unique, first-of-its-kind cognitive vision system based on image processing technologies. Rail Vision's system is designed to rapidly alert engine drivers to obstacles on the railway tracks, in any weather and any lighting conditions, by using designated cameras for object identification. Since the average stopping distance of a train traveling at a high speed is around 800 – 1,200 meters, long-distance obstacle identification is a key to railway safety. Rail Vision’s high-resolution cameras use advanced image processing algorithms to enable the system to locate obstructions from a distance of over 1,500 meters, thus being able to reduce collisions and fatalities, as well as severe damage to locomotives and the environment.
Foresight currently holds 24.76% of Rail Vision’s issued and outstanding share capital, with warrants to acquire a significant number of additional shares to reach holdings of up to 38.67%, on a fully diluted basis.
Foresight (NASDAQ and TASE: FRSX), founded in 2015, is a technology company engaged in the design, development and commercialization of Advanced Driver Assistance Systems (ADAS) based on 3D video analysis, advanced algorithms for image processing, and artificial intelligence. The company, through its wholly-owned subsidiary, develops advanced systems for accident prevention which are designed to provide real-time information about the vehicle's surroundings while in motion. The systems are designed to alert drivers to threats that might cause accidents resulting from traffic violations, driver fatigue or lack of concentration, etc., and to enable highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. The company estimates that its systems will revolutionize ADAS by providing an automotive-grade, cost-effective platform and advanced technology.
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CONTACT INVESTOR RELATIONS:
Miri Segal-Scharia, 917-607-8654