Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, is partnering with Elbit Systems Ltd. to commercially deploy FRSX’s cutting-edge software solution to a key customer in the defense industry; plans call for the technology to be installed in fully autonomous defense vehicles. According to the announcement, this agreement is the first time Foresight’s 3D image processing software will be commercially licensed to one of Elbit’s end customers. The Israeli Ministry of Defense has recognized Foresight’s proprietary software as a breakthrough technology. The company noted that its solution will be available to Elbit’s end customers as part of advanced driver assistance systems (“ADAS”) and autonomous platforms of unmanned combat and security ground vehicles for the defense, paramilitary and homeland security sectors. “We are proud to deploy our groundbreaking software to an important defense industry player,” said Foresight CEO Haim Siboni in the press release. “We believe that this first commercial delivery of our software license validates the importance of our technology and its valuable applications for the defense sector. It is a testament to our continuous drive to develop advanced solutions that have operational value and strategic advantages on the battlefield. This successful deployment may open the door to further adoption and additional orders from similar customers.”
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings is a technology company developing smart multispectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries — Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. — Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight vision solutions include modules of automatic calibration and dense three-dimensional (“3D”) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time, precollision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information, visit the company’s website at 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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