Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has released a shareholder update outlining the company’s stable business development and remarkable performance throughout 2020, as well as several key business milestones that have set the course for what Foresight believes will be a successful year. In addition, the company today announced that its wholly owned subsidiary, Eye-Net Mobile Ltd., successfully completed a controlled trial of its Eye-Net(TM) Protect cellular-based accident prevention solution for the intelligent transport system division of a multi-billion-dollar global Japanese vehicle manufacturer. Blue and White Robotics (“BWR”) supervised the trial that was designed to demonstrate Eye-Net’s advanced capabilities of protecting vehicles from oncoming collisions. “Eye-Net successfully completed another controlled trial and met all predefined objectives and key performance indicators, demonstrating Eye-Net Protect’s system capabilities. The system configuration used in the trial was almost identical to the production configuration, mimicking real-life situations with almost no safety margins,” said Dror Elbaz, COO and deputy CEO of Eye-Net Mobile. ”The test results confirm that the Eye-Net technology and product are ready for commercial deployment and may bring outstanding added value to all road users in general and to the automotive industry in particular.”
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About Foresight Autonomous Holdings Ltd.
Foresight, 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 advanced driver assistance systems (“ADAS”), 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.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.ForesightAuto.com
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
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