Foresight Signs Development Service Agreement with Leading Japanese Manufacturer of Road Traffic and Hazard Management Products
Foresight Autonomous Holdings (FRSX) has signed a development service agreement with a leading Japanese manufacturer of road traffic and hazard management products through its distributor, Cornes Technologies The collaboration focuses on two main projects:
1. Implementing Foresight's 3D perception system to detect vehicles merging onto highways in real-time, including speed and direction monitoring.
2. Developing advanced products with dual stereoscopic camera systems, combining visible light and thermal infrared cameras mounted on service vehicles to monitor restricted road lanes and provide real-time hazard notifications.
The agreement establishes a framework for future collaborations, with commercial terms to be determined based on specific project requirements. The company expects this partnership to accelerate revenue growth in coming years.
Foresight Autonomous Holdings (FRSX) ha firmato un accordo di servizio di sviluppo con un importante produttore giapponese di prodotti per la gestione del traffico stradale e dei pericoli attraverso il suo distributore, Cornes Technologies. La collaborazione si concentra su due progetti principali:
1. Implementazione del sistema di percezione 3D di Foresight per rilevare i veicoli che si immettono in autostrada in tempo reale, compreso il monitoraggio della velocità e della direzione.
2. Sviluppo di prodotti avanzati con sistemi di telecamere stereoscopiche duali, che combinano telecamere a luce visibile e a infrarossi termici montate su veicoli di servizio per monitorare corsie stradali riservate e fornire notifiche di pericolo in tempo reale.
L'accordo stabilisce un quadro per future collaborazioni, con termini commerciali che saranno determinati in base alle specifiche esigenze del progetto. L'azienda si aspetta che questa partnership acceleri la crescita dei ricavi nei prossimi anni.
Foresight Autonomous Holdings (FRSX) ha firmado un acuerdo de servicio de desarrollo con un importante fabricante japonés de productos para la gestión del tráfico y de peligros a través de su distribuidor, Cornes Technologies. La colaboración se centra en dos proyectos principales:
1. Implementación del sistema de percepción 3D de Foresight para detectar vehículos que se integran en las autopistas en tiempo real, incluyendo el monitoreo de velocidad y dirección.
2. Desarrollo de productos avanzados con sistemas de cámaras estereoscópicas duales, combinando cámaras de luz visible y térmica infrarroja montadas en vehículos de servicio para monitorear carriles de carretera restringidos y proporcionar notificaciones de peligro en tiempo real.
El acuerdo establece un marco para futuras colaboraciones, con términos comerciales que se determinarán según los requisitos específicos del proyecto. La empresa espera que esta asociación acelere el crecimiento de ingresos en los próximos años.
Foresight Autonomous Holdings (FRSX)는 일본의 주요 도로 교통 및 위험 관리 제품 제조업체와 그들의 유통업체인 Cornes Technologies를 통해 개발 서비스 계약을 체결했습니다. 이번 협력은 두 가지 주요 프로젝트에 초점을 맞추고 있습니다:
1. Foresight의 3D 인식 시스템을 구현하여 고속도로에 합류하는 차량을 실시간으로 감지하고, 속도 및 방향을 모니터링합니다.
2. 서비스 차량에 장착된 가시광선 및 열 적외선 카메라를 결합한 이중 스테레오 카메라 시스템을 사용하여 제한된 도로 차선을 모니터링하고 실시간으로 위험 알림을 제공하는 고급 제품을 개발합니다.
이 계약은 미래 협력을 위한 틀을 설정하며, 상업적 조건은 특정 프로젝트 요구 사항에 따라 결정될 것입니다. 회사는 이번 파트너십이 향후 몇 년간 수익 성장을 가속화할 것으로 기대하고 있습니다.
Foresight Autonomous Holdings (FRSX) a signé un accord de service de développement avec un important fabricant japonais de produits de gestion du trafic routier et des dangers par l'intermédiaire de son distributeur, Cornes Technologies. La collaboration se concentre sur deux projets principaux :
1. Mise en œuvre du système de perception 3D de Foresight pour détecter les véhicules qui s'engagent sur les autoroutes en temps réel, y compris la surveillance de la vitesse et de la direction.
2. Développement de produits avancés avec des systèmes de caméras stéréoscopiques doubles, combinant des caméras à lumière visible et infrarouge thermique montées sur des véhicules de service pour surveiller les voies de circulation restreintes et fournir des notifications de danger en temps réel.
Le contrat établit un cadre pour de futures collaborations, les conditions commerciales devant être déterminées en fonction des exigences spécifiques des projets. L'entreprise s'attend à ce que ce partenariat accélère la croissance des revenus dans les années à venir.
Foresight Autonomous Holdings (FRSX) hat einen Entwicklungsdienstleistungsvertrag mit einem führenden japanischen Hersteller von Straßenverkehrs- und Gefahrenmanagementprodukten über seinen Distributor Cornes Technologies unterzeichnet. Die Zusammenarbeit konzentriert sich auf zwei Hauptprojekte:
1. Implementierung des 3D-Wahrnehmungssystems von Foresight zur Echtzeiterkennung von Fahrzeugen, die auf Autobahnen auffahren, einschließlich Geschwindigkeits- und Richtungsüberwachung.
2. Entwicklung fortschrittlicher Produkte mit dualen stereoskopischen Kamerasystemen, die sichtbares Licht und thermische Infrarotkameras kombinieren, die an Servicefahrzeugen montiert sind, um eingeschränkte Fahrspuren zu überwachen und Echtzeit-Warnungen vor Gefahren zu geben.
Der Vertrag legt einen Rahmen für zukünftige Kooperationen fest, wobei die kommerziellen Bedingungen basierend auf den spezifischen Projektanforderungen festgelegt werden. Das Unternehmen erwartet, dass diese Partnerschaft das Umsatzwachstum in den kommenden Jahren beschleunigt.
- Strategic partnership with leading Japanese manufacturer expands market presence in Asia
- Development of new revenue streams through project-specific commercial agreements
- Expected acceleration of revenue growth in coming years
- Technology application expansion into road safety and construction management sectors
- Commercial terms not yet defined, creating uncertainty about revenue potential
- Project implementation timeline and costs not specified
Insights
This development agreement marks a strategic pivot for Foresight into Japan's $12.5 billion road safety and infrastructure market. The partnership's focus on real-time vehicle detection and worker safety addresses critical needs in Japan's aging infrastructure landscape, where worker safety and efficient traffic management are paramount concerns.
The technical specification of combining visible light and thermal infrared cameras creates a significant competitive advantage. This dual-system approach enables 24/7 operational capability across various weather conditions, addressing a critical limitation of traditional single-sensor systems. The ability to detect vehicles merging from entrance ramps - a common point of traffic accidents - could significantly reduce collision risks.
The agreement's framework structure, allowing for project-specific commercial terms, provides Foresight with flexibility to scale solutions based on market demand while maintaining pricing power. The partnership with Cornes Technologies, a well-established Japanese distributor, significantly reduces market entry barriers and accelerates deployment potential.
However, the revenue impact remains contingent on several factors: the speed of product development, regulatory approvals, and market adoption rates. While the company suggests accelerated revenue growth, the project-by-project nature of the agreement indicates a gradual rather than immediate impact on the financial performance.
The new products are designed to provide warnings to both road users and construction workers, helping to reduce the likelihood of accidents
Ness Ziona, Israel, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in 3D perception systems, announced today the signing of a development service agreement with a leading Japanese manufacturer of road traffic, hazard management and monitoring solutions. The agreement was signed through the Company's Japanese distributor, Cornes Technologies Limited, to establish a framework for future project collaborations and commercialization, aimed at enhancing the safety and efficiency of road traffic and hazard management, while driving cost-effectiveness in product development and production.
The initial project will focus on implementing and optimizing Foresight’s advanced 3D perception system to detect, in real time, vehicles merging onto highways from entrance ramps and service areas and determine the speed and direction of these detected vehicles. The next project will involve the development of advanced products equipped with dual stereoscopic camera systems. These systems will comprise a visible light camera set paired with a thermal long-wave infrared camera set, each independently mounted on service or patrol vehicles.
The advanced sensor systems will monitor restricted road lanes, even in challenging conditions such as harsh weather and poor lighting. The systems will provide real-time notifications about potential hazards to on-site personnel, effectively creating a safe zone for road workers. This enhanced awareness aims to significantly improve workplace safety in high-risk road environments.
According to the service agreement, the commercial terms for individual development projects will be determined according to specific technical requirements and scope of work for each product. The Company believes that this agreement will contribute to accelerating its revenue growth in the coming years.
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 “X” (formerly 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 the aims of the development service agreement, the benefits and advantages of the Company’s products and its belief that this agreement will contribute to accelerating its revenue growth in the coming years. 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
917-607-8654
FAQ
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