Foresight Autonomous Holdings Ltd. , an innovator in automotive vision systems, announced today that its affiliate, Rail Vision Ltd. (Foresight owns approx. 24% of Rail Vision’s outstanding shares), received its first commercial order from a leading European train operator.
As indicated by Rail Vision, the order consists of purchasing an Assisted Remote Shunting prototype system and an Operational Functional Test (OFT) for a total value of approximately 500,000 Euro. The OFT of the system is scheduled for Q4 2020. A commercial agreement with the leading European train operator detailing future phases is expected to be signed in the upcoming weeks. A successful testing of Rail Vision’s Assisted Remote Shunting prototype could entail the purchase of approximately 30 shunting yard systems for an additional 2.5 million Euro. The European train operator may also choose to exercise its option to purchase an additional 45 shunting yard systems for a total value of 3.5 million Euro.
Rail Vision’s unique shunting yard solution monitors the shunting yard for any obstacle and enables railway operators to safeguard and streamline their shunting operations, such as performing checks and maintenance for railcars and locomotives. Combining advanced vision sensors with deep learning technologies, the solution automatically detects and classifies objects within a 200-meter range at all times of day and in all weather conditions. Additionally, the solution delivers visual warnings to operators or drivers based on customer needs to ensure a safe and secure environment, while also improving operational efficiency.
Rail Vision is a leading provider of cutting-edge cognitive vision sensor technology and safety systems for the railway industry. Rail Vision’s solutions offer detection and classification of objects or obstacles (e.g. humans, vehicles, and signals), rail path recognition (i.e. switch state detection), distance measurement and opportunity infrastructure condition monitoring.
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