Foresight Granted Patent Approval in Japan for All-Weather and Lighting Conditions Vision System

Rhea-AI Summary

Foresight Autonomous Holdings has been granted patent approval in Japan for its multi-spectral vehicular system, enhancing obstacle detection in challenging weather and lighting conditions. The patented technology integrates thermal cameras for precise obstacle detection in adverse environments, providing a competitive edge in the automotive industry.

Insights

Automotive Industry Analyst

The recent patent approval in Japan for Foresight’s multi-spectral vehicular system could potentially position the company favorably within the advanced driver-assistance systems (ADAS) market. Japan's status as a hub for automotive manufacturing and technological innovation makes this a strategic win for Foresight, potentially opening doors to partnerships with Japanese automakers. The patented system's ability to operate in all weather and lighting conditions could address key challenges faced by autonomous vehicle developers, particularly those related to sensor reliability in adverse conditions. This reliability is critical for the advancement of autonomous driving technologies and can be a differentiator in the market. Foresight's technology might lead to improved safety features and efficiency for autonomous vehicles, which can, in turn, enhance public trust and acceptance of these vehicles. For investors, this patent approval could signal long-term growth potential as the company may secure a stronger foothold in the competitive ADAS market.

Intellectual Property (IP) Strategist

The granting of a patent in a highly industrialized country like Japan signifies an intellectual property milestone for Foresight. Japan's rigorous patent examination process adds credibility to the novelty and utility of the technology. Having a patent in Japan not only protects Foresight's technology within a key market but also strengthens its IP portfolio, which is a valuable intangible asset that can attract investors. It could serve as leverage in negotiating licensing deals or partnerships, thus potentially increasing revenue streams for Foresight. From an IP strategy perspective, this move also helps deter competitors from entering the space with similar technologies, effectively creating a barrier to entry. Investors should note that the company's ability to monetize this patent through strategic alliances or licensing will be pivotal in determining the patent's true value to the bottom line.

Technology Analyst

The fusion module at the heart of Foresight’s technology represents a significant advancement in sensor technology. The combination of infrared and visible-light stereoscopic sensors may provide a more comprehensive data set for obstacle detection in autonomous vehicles. Such a sensor fusion could lead to more sophisticated algorithms and improved decision-making capabilities for autonomous systems, which is essential for vehicle safety. Technologically, this reflects a growing trend in the industry to rely on multi-modal sensory input for vehicle automation. With autonomous vehicles expected to become more prevalent in the future, technologies that can function accurately in diverse environments are poised to gain market share. For investors, this could mean that Foresight's technology may become more integrated into future vehicle designs, assuming it delivers on its promises and is adopted by vehicle manufacturers.

The patented technology is highly beneficial to Foresight’s key markets, particularly the heavy equipment industry, as the integration of thermal cameras ensures precise obstacle detection in challenging weather and dust-filled environments

Ness Ziona, Israel, April 17, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that it has received a notice of allowance from the Japan Patent Office for its patent application, number 2020-557022, for the Company’s “multi-spectral vehicular system for providing pre-collision alerts.”

The patented technology combines data from a pair of stereoscopic infrared sensors and a pair of stereoscopic visible-light sensors through an advanced fusion module. The fusion enables precise obstacle detection and distance estimation. The fusion of the two stereoscopic channels also tackles corner-case scenarios, particularly in challenging weather and lighting conditions, while minimizing false alerts. The system’s automatic calibration module is designed to ensure that stereo cameras maintain calibration regardless of their configuration or position, thereby ensuring accurate and continuous depth perception.

We believe that the patent approval in Japan is a significant advancement for Foresight, paving the way for safer and more efficient autonomous vehicles in a country known for its automotive innovation. Moreover, the approval of the patent emphasizes the enhanced value of technology for reliable obstacle detection under adverse weather conditions. This gives it a competitive edge over other sensors that struggle to perform in challenging environmental conditions.

This patent serves as the foundation of Foresight’s QuadSight^® automotive vision system. The Company’s four-camera vision system provides unparalleled obstacle detection capabilities for semi-autonomous and autonomous vehicles. Through sensor fusion, QuadSight combines reflected light from visible-light cameras with thermal energy captured by long-wave infrared cameras for robust, accurate object detection of any shape, form or material, in all weather and lighting conditions - including complete darkness, rain, haze, fog and glare.

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., Foresight Changzhou 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 and dense three-dimensional (3D) point cloud that can be applied to different 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.

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 patented technology is highly beneficial to its key markets, that the patent approval is a significant advancement for the Company, paving the way for safer and more efficient autonomous vehicles in Japan, and that the approval of the patent emphasizes the enhanced value of technology for reliable obstacle detection under adverse weather conditions, giving it a competitive edge over other sensors that struggle to perform in challenging environmental conditions. 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 for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission ("SEC") on March 27, 2024, 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.

Investor Relations Contact:
Miri Segal-Scharia
CEO
MS-IR LLC
msegal@ms-ir.com
917-607-8654

FAQ

What technology did Foresight receive patent approval for in Japan?

Foresight received patent approval for its multi-spectral vehicular system for providing pre-collision alerts.

How does the patented technology enhance obstacle detection?

The technology combines data from stereoscopic infrared and visible-light sensors through an advanced fusion module, enabling precise obstacle detection and distance estimation.

What industry will benefit the most from this patented technology?

The heavy equipment industry will benefit significantly from this technology, especially in challenging weather and dust-filled environments.

What is the significance of the patent approval in Japan for Foresight?

The approval paves the way for safer and more efficient autonomous vehicles in a country known for automotive innovation, emphasizing the enhanced value of technology for reliable obstacle detection under adverse weather conditions.