Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has sold a prototype of its proprietary QuadSight(R)four-camera vision system to a leading Japanese manufacturer of agricultural and heavy equipment. The manufacturer will test the system and evaluate the stereoscopic capabilities for use in fully autonomous tractors as an alternative to sensors that are currently being evaluated. According to the company, FRSX’s system could address specific problems caused by dust and fertilizer particles, as well as harsh weather and sun glare. These benefits could mean added value to companies working to provide precision automated agricultural machines. Foresight noted that the sale is indicative of a need within the industry to identify affordable ways to increase productivity and accuracy of autonomous operations. Projections for the autonomous tractor market estimate that the sector will reach $7.5 billion by 2028, up from a $1.5 billion valuation in 2020. Driving that increased are market trends such as growing adoption of advanced farming technologies, increasing commercialization of agriculture and rising acceptance of autonomous technologies.
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About Foresight Autonomous Holdings Ltd.
Foresight is a technology company developing smart multispectral vision software solutions and cellular-based applications. 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 accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration, sensor fusion and dense 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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