Rail Vision Achieves Real-Time Capabilities of its Railway Safety System
July 24 2017 - 1:45AM
Business Wire
Foresight Autonomous Holdings Ltd., a leading developer of
Advanced Driver Assistance Systems (TASE and NASDAQ: FRSX),
announced today that Rail Vision, which is 32% owned by
Foresight, has achieved a major milestone in its development of
products for advanced safety, asset and fleet management in the
rail industry.
Rail Vision demonstrated its system’s real-time capabilities
with its unique algorithm implementation. The prototype
demonstration validated the system's ability to detect and classify
railway obstacles and alert the driver and control center in real
time.
In the context of Rail Vision’s solution, real-time is defined
as the ability to acquire video imagery from multiple sensors, and
process those video streams with sufficient throughput and minimal
delay to provide timely video display and alerts to a locomotive
driver. This technology incorporates breakthrough image analysis
and deep learning algorithms, all implemented in software and
hardware with advanced day and night imaging sensors. This is a key
and strategic step towards a fully operative obstacle detection
solution for railway safety applications.
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 alert engine drivers to obstacles on the railway tracks
in a timely fashion, 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, severe damage to locomotives
and the environment.
Foresight currently holds 32% 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 48%, on a
fully diluted basis.
About Foresight
Foresight (TASE and NASDAQ: 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.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
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, when Foresight describes
Rail Vision's potential to develop a fully operative obstacle
detection solution for railway safety applications, it is using
forward-looking statements. Because such statements deal with
future events and are based on Foresight’s current expectations,
they are subject to various risks and uncertainties and actual
results, performance or achievements of Foresight could differ
materially from those described in or implied by the statements in
this press release.
The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties,
including those discussed under the heading "Risk Factors" in
Foresight's registration statement on Form 20-F filed with the
Securities and Exchange Commission ("SEC") on June 1, 2017, and in
any subsequent filings with the SEC. Except as otherwise required
by law, Foresight undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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version on businesswire.com: http://www.businesswire.com/news/home/20170723005045/en/
INVESTOR RELATIONS:MS-IR LLCMiri Segal-Scharia,
917-607-8654CEOmsegal@ms-ir.com
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