Foresight: Eye-Net to Start Pilot Project with a Leading European Cellular Service Provider The cellular service provider will evaluate the Eye-Net™ Protect accident prevention solution for potential integration into its 5G solutions suite
Ness Ziona, Israel
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November 15, 2021 08:25 AM Eastern Standard Time
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its wholly owned subsidiary, Eye-Net Mobile Ltd. (“Eye-Net” or “Eye-Net Mobile”), will begin a pilot project with a leading European cellular service provider.
The cellular provider will test the software development kit (SDK) configuration and the performance of the Eye-Net Protect cellular-based vehicle-to-everything (V2X) accident prevention solution and intends to demonstrate it to its business partners. Upon successful evaluation, the leading cellular service provider may offer the Eye-Net solution to its customers, including municipalities, as part of its 5G cellular network solutions suite.
“We believe this pilot project indicates a growing interest from cellular companies in Eye-Net’s innovative technology, as another European cellular service provider has chosen to evaluate and conduct technological demonstrations of our solution in order to offer it as a use case for 5G cellular networks,” said Dror Elbaz, COO & Deputy CEO of Eye-Net Mobile. “Our hope is that this pilot will serve as a springboard for offering our solution to smart cities throughout Europe and eventually globally, improving the probability of preventing accidents and saving lives.”
The Eye-Net Protect cellular-based V2X solution is designed to protect the most vulnerable road users in real time—including pedestrians, cyclists, scooter drivers and car drivers—by providing collision alerts when the road users have no direct line of sight. Eye-Net Protect is agnostic to cellular infrastructure and seamlessly adapts to the cellular network generation.
For more information about Eye-Net Mobile, please visit www.eyenet-mobile.com, or follow the Company’s LinkedIn page, Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.
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 that the cellular provider will test the SDK configuration and the performance of the Eye-Net Protect cellular-based vehicle-to-everything (V2X) accident prevention solution and intends to demonstrate it to its business partners, that, upon a successful evaluation, the leading cellular service provider may offer the Eye-Net solution to its customers, including municipalities, as part of its 5G cellular network solutions suite, that it hopes that this pilot will serve as a springboard for offering its solution to smart cities throughout Europe and eventually globally and that Eye-Net Protect may increase the chances of preventing accidents and saving lives. 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 30, 2021, 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.
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. 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” accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration, sensor fusion and dense 3D point cloud that can be applied to diverse markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn.
Contact Details
Investor Relations Contact:
Miri Segal-Scharia, CEO, MS-IR LLC
+1 917-607-8654
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