Rail Vision (NASDAQ: RVSN) announced the completion of its previously disclosed strategic transaction to acquire a 51% ownership interest in Quantum Transportation Ltd., a move designed to expand the company’s technology roadmap beyond railway safety into quantum-enabled data and IP protection. Through the share exchange, Rail Vision issued 2,982,710 ordinary shares, representing approximately 4.99% of its outstanding share capital at signing, to acquire majority ownership and control of Quantum Transportation, which holds an exclusive rail-focused sublicense to a pending quantum error correction patent from Ramot, the technology transfer company of Tel Aviv University. The transaction is intended to combine quantum-AI intellectual property with Rail Vision’s vision-based railway safety technologies, creating potential synergies across current and future product lines, while Rail Vision also extended a convertible loan facility of up to $700,000 to support Quantum Transportation’s ongoing operations and development.
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About Rail Vision Ltd.
Rail Vision is a development stage technology company that is seeking to revolutionize railway safety and the data-related market. The company has developed cutting edge, artificial intelligence based, industry-leading technology specifically designed for railways. The company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality.
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