Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced its receipt of two orders for product development and customization from Elbit Systems Land Ltd., a subsidiary of Elbit Systems Ltd. (NASDAQ: ESLT), the leading Israeli defense company. Elbit Systems is Foresight’s first commercial customer. According to the update, Foresight will supply a QuadSight prototype system with wide-angle field-of-view detection capabilities designed to meet Elbit’s requirements. “These orders mark a significant commercial milestone in both our business roadmap and relationship with our partner Elbit Systems,” Foresight’s CEO Haim Siboni said in the news release. “Entering a product development phase that includes customization of our unique vision system for potential end customers marks the next step in our collaboration with Elbit Systems and will allow us to expand our presence in the defense market.”
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Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), founded in 2015, is a technology company engaged in the design, development and commercialization of sensors systems for the automotive industry. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of sight” vision systems and “beyond-line-of-sight” cellular-based applications. Foresight’s vision sensor is a four-camera system based on 3D video analysis, advanced algorithms for image processing, and sensor fusion. Eye-Net Mobile’s cellular-based application is a V2X (vehicle-to-everything) accident prevention solution based on real-time spatial analysis of clients’ movement.
The company’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is targeting the semi-autonomous and autonomous vehicle markets and 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
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