(NewsDirect)
Foresight AutonomousHoldings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the“Company”), an innovator in automotive vision systems, announcedtoday the signing of a joint proof of concept (POC) project with theAmerican division of a leading Japanese Tier One supplier for theautomotive industry. This project follows a successful evaluation ofthe QuadSight ® vision system prototype reported by theCompany on March 19, 2021.
The project consists of technological evaluationand testing of predefined simulated and real-life scenarios. Foresightintends to demonstrate its ability to create a stereo pair using theleading Tier One supplier’s existing camera hardware in order togenerate rich perception based on enhanced 3D depth map, accuratedistance measurement and object detection, thereby leveragingForesight’s stereoscopic technology to enhance the leading Tier Onesupplier’s existing system.
Foresight’s proprietary Mono2Stereo™software-based solution uses the overlapping fields of view ofexisting mono cameras to create a 3D perception stereo vision systemand improve the overall probability of detection.
“We are excited to seeincreased interest in our unique technology from the automotiveindustry, as more companies that have evaluated our QuadSightprototype system choose to proceed to POC projects with us. We believethat having been chosen by a leading Tier One supplier of automotivestereo vision systems validates the added value of our stereoscopictechnology to enhance existing advanced driver assistance systems(ADAS) and amplify their performance, resulting in better distanceaccuracy and more robust active safety features,” said Haim Siboni,CEO of Foresight. “Our solution can be readily deployed in vehiclesequipped with Level 2 and Level 2 plus autonomy systems, withoutrequiring additional hardware and design changes. We believe thatteaming up with the leading Tier One supplier may potentially lead tofurther collaborations with vehicle manufacturers worldwide.”
Forward-LookingStatements
This press release contains forward-looking statements withinthe meaning of the "safe harbor" provisions of the PrivateSecurities Litigation Reform Act of 1995 and other Federal securitieslaws. Words such as "expects," "anticipates,""intends," "plans," "believes,""seeks," "estimates" and similar expressions orvariations of such words are intended to identify forward-lookingstatements. For example, Foresight is using forward-looking statementsin this press release when it discusses the project with the leadingTier One supplier of stereo vision systems and the Company’s beliefthat teaming up with the leading Tier One supplier validates the addedvalue of its technology to the leading Tier One supplier’s ADASsystems and may potentially lead to further collaborations withvehicle manufacturers worldwide. Because such statements deal withfuture events and are based on Foresight’s current expectations,they are subject to various risks and uncertainties, and actualresults, performance or achievements of Foresight could differmaterially from those described in or implied by the statements inthis press release.
Theforward-looking statements contained or implied in this press releaseare subject to other risks and uncertainties, including thosediscussed under the heading "Risk Factors" in Foresight'sannual report on Form 20-F filed with the Securities and ExchangeCommission ("SEC") on March 30, 2021, and in any subsequentfilings with the SEC. Except as otherwise required by law, Foresightundertakes no obligation to publicly release any revisions to theseforward-looking statements to reflect events or circumstances afterthe 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 byreference into this press release. Foresight is not responsible forthe contents of third party websites.
AboutForesight
Foresight Autonomous Holdings Ltd. (Nasdaq andTASE: FRSX) is a technology company developing smart multi-spectralvision software solutions and cellular-based applications. Through theCompany’s wholly owned subsidiaries, Foresight Automotive Ltd. andEye-Net Mobile Ltd., Foresight develops both “in-line-of-sight”vision systems and “beyond-line-of-sight” accident-preventionsolutions. Foresight’s vision solutions include modules of automaticcalibration, sensor fusion and dense 3D point cloud that can beapplied to diverse markets such as automotive, defense, autonomousvehicles and heavy industrial equipment. Eye-Net Mobile’scellular-based solution suite provides real-time pre-collision alertsto enhance road safety and situational awareness for all road users inthe urban mobility environment by incorporating cutting-edge AItechnology and advanced analytics. For more information aboutForesight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com ,follow onTwitter, or join on LinkedIn.
ContactDetails
Investor Relations Contact:
MiriSegal-Scharia, CEO, MS-IR LLC
+1 917-607-8654
CompanyWebsite
https://www.foresightauto.com/
Copyright (c) 2022 TheNewswire - All rights reserved.