NESS ZIONA, Israel — January 24, 2017 - Foresight, a leading developer of advanced systems for road traffic accident prevention (TASE: FRST), announced today that in the upcoming two weeks Rail Vision, together with a European train company, will conduct a second field test designed to measure the capabilities of its unique system. Currently, Foresight holds 32% of Rail Vision's outstanding shares, and about 48% on a fully diluted basis.
The system, based on image processing technology, is designed to alert engine drivers to potential collisions on tracks. It utilizes a thermal camera for object recognition from over 0.9 miles, and operates under any weather or lighting conditions.
According to Rail Vision, during the first week the field test will focus on the recognition of objects in the train company's indoor operational area. The test will feature an improved version of the system, mostly due to the integration of an innovative sensor, which provides a timely alert notification to engine drivers by sensing human targets from a great distance. The field test will be conducted under typical European winter conditions at the request of the train company and with its cooperation.
Furthermore, Rail Vision noted that the second week will further test the system's capacities of discovering, identifying, and classifying diverse obstacle shapes in the operational area and during an actual train ride, by mounting the system on a locomotive engine. Rail Vision intends to publish the results of the field test in February.
According to Rail Vision, the train company's experts will thoroughly evaluate the system's image processing capabilities during this field test.
The train company is one of the largest in the world, operating in more than 130 countries. Transporting 5.5 million passengers and 600 kilotons of cargo every day, it employs more than 300,000 people. In 2015, the train company reported revenue of over 40 billion euros and a net profit of almost 2 billion euros.
Foresight (FRST: TASE), founded in 2015 is a technology company engaged in the design, development, and commercialization of 3D multi-camera-based Advanced Driver Assistance Systems (“ADAS”). The company, through its subsidiary, develops advanced systems for accident prevention, which are designed to provide real-time information about the vehicle's surroundings while in motion. These systems, which are based on 3D technology, advanced algorithms, and artificial intelligence, will revolutionize ADAS by providing an automotive grade cost-effective platform, enabling highly accurate and reliable detection while ensuring the lowest rates of false alerts.
For further information please visit our website: http://www.foresightauto.com/