2024-01-17 12:17:16 ET
- Rail Vision ( NASDAQ: RVSN ) Wednesday said that it had secured a supply contract valued at up to $5,000,000 for the purchase of its AI-based Switch Yard Systems by a US-based rail and leasing services company.
- "The signing of the contract with this customer is a significant milestone for Rail Vision, marking our entrance into the US market and reflecting our commitment to enabling the rail industry with cutting-edge AI-based technology," said Rail Vision CEO Shahar Hania.
- The first phase of the contract is valued at $1,000,000. Follow-on orders for additional Switch Yard Systems, valued at up to $4,000,000, are subject to customer approval.
- The contract also includes specific purchase quotas that, if met, provide the customer with exclusivity in the North American industrial railyards switching segment.
- RVSN is +21.13% to $2.035
- Source: Press Release
For further details see:
Rail Vision wins contract valued at up to $5 million, shares jump