Foresight Completes Development of Commercial Version of its Groundbreaking Automatic Calibration Software
September 02 2020 - 7:30AM
Business Wire
The company submitted a patent application for
calibration software for vision sensors designed to allow flexible
placement of sensors on a vehicle while ensuring perception
accuracy
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an
innovator in automotive vision systems, announced today that it has
completed the development of a commercial version of its
groundbreaking automatic calibration software. In addition, the
Company submitted a patent application to the U.S. Patent and
Trademark Office, pertaining to the Company’s innovations in the
field of automotive sensor calibration.
Continuous sensor calibration is essential for creating accurate
stereoscopic 3D perception required for safe and robust automotive
stereo vision systems. Miscalibration occurs when external factors
change the position of the sensors with respect to each other. A
miscalibrated system may lead to inaccurate perception of the
driving environment, affect the decision-making mechanism of the
vehicle and risk passenger lives. Foresight’s revolutionary
innovation allows for automatic calibration between vision systems
that are composed of multiple sensors, such as thermal infrared and
visible-light cameras.
The Company’s groundbreaking software solution is designed to
ensure that the sensors remain calibrated regardless of their
configuration or position on a car. This will allow vehicle
manufacturers flexible placement of sensors, whether on a rigid
base or as separate units, while ensuring accurate perception and
improving the sensors’ detection capabilities.
“Completing development of the commercial version of our
proprietary automatic calibration software is an important
milestone for the Company, and will allow us to offer this software
as a standalone product,” said Haim Siboni, Foresight’s CEO. “Our
unique solution is suitable for passenger vehicles, heavy machinery
manufactures and Tier One suppliers looking to enhance their
stereoscopic vision systems.”
Foresight submitted two additional patent applications
pertaining to multiple-sensor camera systems. The first allows
repetitive and robust calibration and optical testing for vision
systems composed of both visible light and thermal (infrared)
cameras to ensure sensor accuracy. In addition, it enables sensor
fusion for all imaging systems along the visible light long-wave
infrared spectrum. The second patent application enables real time
assessment of the quality of information coming from each sensor
set, allowing smart sensor fusion capabilities and dramatically
reducing the required computational resources of the system.
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 stereo/quad-camera vision
systems for the automotive industry. Foresight’s vision systems are
based on 3D video analysis, advanced algorithms for image
processing, and sensor fusion. The company, through its wholly
owned subsidiary Foresight Automotive Ltd., 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 improve driving safety by
enabling highly accurate and reliable threat detection while
ensuring the lowest rates of false alerts. The company’s systems
are targeting the semi-autonomous and autonomous vehicle markets.
The company 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 potential and benefit of its products, offering software as a
standalone product, and the suitability of the Company’s product
for passenger vehicles, heavy machinery manufactures and Tier One
suppliers. 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.
In addition, Foresight cannot assure that any patent will issue
as a result of a pending patent application or, if issued, whether
it will issue in a form that will be advantageous to Foresight. 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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