Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has signed a paid proof of concept (“POC”) project with the Chinese subsidiary of one of the world’s leading manufacturers of industrial equipment, heavy machinery, construction and mining equipment. According to the announcement, the Fortune 500 company is evaluating the ability of Foresight’s QuadSight(R) technology to provide autonomous capabilities to the company’s mining and construction trucks; a successful outcome may mean that FRSX’s proprietary tech could be integrated into future vehicles. The company noted that it was chosen over other three-dimensional perception vision solutions because of its accurate and high-resolution point cloud and all-object detection capabilities in diverse circumstances, including harsh weather, environment and lighting conditions. “We are excited to extend our innovative stereo vision solutions to the construction and mining industry,” said Foresight CEO Haim Siboni in the press release. “By collaborating with one of the world’s largest industrial equipment and heavy machinery manufacturers, we aim to enhance the safety, accuracy of object detection, and environmental awareness in their operations. This POC project reflects our dedication to delivering advanced automotive vision technologies across diverse sectors.”
To view the full press release, visit https://ibn.fm/DTdb3
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’s 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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