Foresight Vision System Installed in Leading Automotive OEM’s Vehicle
European commercial vehicle manufacturer evaluation marks first ever
installation of QuadSight™ prototype
NESS ZIONA, Israel–(BUSINESS WIRE)–#FRSX–Foresight Autonomous Holdings Ltd. (Nasdaq and TASE:FRSX), an innovator
in automotive vision systems, announced today that it has successfully
delivered and installed its first QuadSight™ prototype system for
evaluation by a leading European manufacturer of commercial vehicles.
QuadSight™ was successfully installed on the manufacturer’s truck and
passed all initial performance testing. The customer will continue
independent evaluation of the system’s performance.
A CES 2019 Innovation Award Honoree, the QuadSight™ quad-camera vision
solution targets semi-autonomous and autonomous vehicles and is designed
to allow near-100 percent obstacle detection with near zero false
alerts, under any weather or lighting conditions.
By collaborating closely with the vehicle manufacturer at the prototype
evaluation stage, Foresight collects important feedback in order to
develop a commercial product that fits the exact customer’s
requirements. Customer satisfaction at the end of the evaluation process
may lead to future orders of QuadSight™ systems by the
vehicle manufacturer for mass production.
“This successful installation marks an important milestone in
Foresight’s roadmap,” said Haim Siboni, CEO of Foresight. “We believe
that in-vehicle evaluations of the QuadSight™ vision system will clearly
demonstrate its advantage over competing systems by its ability to
detect any obstacles under harsh weather and diverse lighting
conditions. Such evaluations will increase the customer’s confidence in
Foresight’s products.”
Using a four-camera vision system based on stereoscopic technology,
QuadSight addresses the real-world need for autonomous driving in
all-weather and all-lighting conditions and is designed to provide an
unprecedented level of obstacle detection accuracy for semi-autonomous
and autonomous vehicle safety. Leveraging decades of field-proven
security technology and highly advanced image-processing algorithms,
QuadSight™ uniquely enables visibility in complete darkness, snow, rain,
fog, sandstorms and blinding glare.
Foresight will offer a live demonstration the QuadSight™ vision system
at CES 2019, held from January 8–11 at the Westgate Las Vegas, booth
#2206. Contact Foresight to schedule
a demo.
About QuadSight™
Foresight
first launched a demo of its QuadSight™ system last January at the CES
show in Las Vegas. Foresight regards QuadSight™ as the industry’s most
accurate quad-camera vision system, offering exceptional obstacle
detection for semi-autonomous and autonomous vehicle safety. Using
proven, highly advanced image-processing algorithms, QuadSight™ uses
four-camera technology that combines two pairs of stereoscopic infrared
and daylight cameras. QuadSight™ is designed to achieve near-100%
obstacle detection with near zero false alerts under any weather or
lighting conditions – including complete darkness, rain, haze, fog and
glare.
Stereoscopic vision technology’s exceptional three-dimensional (3D)
images, detection and accuracy are essential for safe and reliable
semi-autonomous and autonomous vehicle vision systems. The combination
of stereoscopic visible-light cameras and thermal vision exceeds a human
driver’s ability to see objects in real time, whether large or small,
in-motion or static, and from short or long-range distances.
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 and V2X
cellular-based solutions 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 Advanced Driver
Assistance Systems (ADAS), 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.
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
future orders of QuadSight systems and the benefits of in-vehicle
evaluations. In addition, Foresight is using forward-looking statements
when it discusses that it intends to increase awareness of its unique
solutions, to address potential customers and expand its presence with
vehicle manufacturers and Tier One automotive suppliers by selling
additional prototypes. 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 27, 2018, 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.
Contacts
Investor Relations:
Miri Segal-Scharia
CEO
MS-IR
LLC
msegal@ms-ir.com
917-607-8654
Media:
Rainier Communications
Mary Lynch Cadwallader /
Michelle Allard McMahon
foresight@rainierco.com
508-450-2733
/ 781-718-3248
