Foresight: Eye-Net Mobile and Global Japanese Technology Company to Start Pilot Project
August 21 2020 - 7:30AM
Business Wire
The multi-billion dollar technology company
will evaluate the Eye-Net™ Protect accident prevention solution for
future integration into its IoT services
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an
innovator in automotive vision systems, announced today that its
wholly owned subsidiary, Eye-Net Mobile Ltd., will start a pilot
project with a multi-billion dollar global Japanese technology
company to test its Eye-Net™ Protect cellular-based V2X
(vehicle-to-everything) accident prevention solution.
The pilot project will be used to validate the Eye-Net solution
capabilities and its technical specifications. Upon successful
completion, the Japanese technology company may proceed to
commercial integration of the Eye-Net solution into its IoT
platform which currently serves millions of users.
“This pilot project marks an important milestone on Eye-Net
Mobile’s commercial roadmap. The technology company will be the
first to evaluate the software development kit (SDK) configuration
of Eye-Net Protect. Integration with a global Japanese company has
the potential to allow our life-saving accident prevention solution
to protect millions of users daily,” said Dror Elbaz, COO &
Deputy CEO of Eye-Net Mobile.
The Eye-Net Protect V2X solution is designed to protect the most
vulnerable road users in real time - including pedestrians,
cyclists, scooter drivers and car drivers - by providing collision
alerts when the road users have no direct line of sight. An SDK
configuration allows Eye-Net Mobile to integrate its solution with
leading location-based products such as wearable devices, dashboard
cameras, navigation aids, infotainment systems, third-party
applications and other smart devices.
For more information about Eye-Net Mobile, please visit
www.eyenet-mobile.com, or follow the Company’s LinkedIn page,
Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel,
Eyenetmobile1, the contents of which are not incorporated into this
press release.
About Foresight Foresight
Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), 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, follow @ForesightAuto1 on
Twitter, or join Foresight Automotive on LinkedIn.
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, Foresight is using forward-looking
statements in this press release when it discusses the terms of any
agreement between Eye-Net and the global Japanese technology
company, that the pilot project will be used to validate the
Eye-Net solution capabilities and its technical specifications,
that upon successful completion, the Japanese technology company
may proceed to commercial integration of the Eye-Net solution into
its IoT platform, and that potential integration with a global
Japanese company has the potential to protect millions of users
daily. 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 annual report on Form 20-F filed with the Securities
and Exchange Commission ("SEC") on March 31, 2020, 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. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Foresight is not responsible for the contents of third party
websites.
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Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
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