Rail Vision Generated Strong Interest in its Ready to Market Obstacle Detection Technology for Railway Safety at InnoTrans 2022 in Germany

Rhea-AI Summary

Rail Vision Ltd. (Nasdaq: RVSN) will present its innovative AI-based railway safety solutions at SmartTransit West in Denver from October 24-26, 2022. Following a successful demonstration at InnoTrans 2022 in Berlin, Rail Vision aims to secure long-term pilot projects and commercial contracts. CEO Shahar Hania highlights the need for advanced driver assistance systems to enhance railway safety and operational efficiency. The company's technology offers enhanced detection capabilities, aiming to revolutionize railway safety and efficiency globally.

Positive

• Demonstrated strong interest in AI-based safety solutions at InnoTrans 2022.
• Plans to secure long-term pilots and commercial contracts following industry events.
• Technology offers up to two kilometers of detection range under various conditions, enhancing safety.

Negative

• None.

The Company will present its innovative railway safety solutions at SmartTransit West in Denver, October 24-26

Ra’anana, Israel, Oct. 20, 2022 (GLOBE NEWSWIRE) --  Rail Vision Ltd. (Nasdaq: RVSN) (“Rail Vision” or the “Company”), a technology company seeking to revolutionize railway safety and the data-related market, showcased its latest artificial intelligence (AI)-based solutions for improved railway safety at InnoTrans 2022 in Berlin, September 20-23.

“InnoTrans was a success. Our booth was busy throughout the event,” commented Shahar Hania, CEO and co-founder of Rail Vision. “Rail Vision demonstrated its position at the forefront of an evolution in train safety to customers from around the world, including the US, Australia, India, Italy, Taiwan, Korea, the UK, and more. We believe we can convert the strong interest generated at the show into long-term pilots and ultimately commercial contracts for our game-changing AI-based technology for the identification and classification of objects on and around the tracks.”

Rail Vision has developed AI-based solutions that enable railway operators to improve the safety of train operations, prevent collisions, and reduce cost while increasing efficiency, in the marshaling yards and intercity trains. Rail Vision’s technology detects and classifies obstacles on or near the tracks within a predefined area of interest and generates real-time visual and audible alerts for both the driver’s and the operator’s command-and-control center. Combining state-of-the-art imaging sensors with AI and deep learning technologies, the systems provide an extended visual range of up to two kilometers, under almost any weather and light conditions.

With growing demand globally, Rail Vision will showcase its technology solutions to North American professionals at SmartTransit West in Denver, Colorado, October 24-26, 2022. Smart Transit is the go-to event for senior industry professionals across North America looking to keep abreast of the rapid pace of change in the passenger transit sector.

Rail Vision CEO Shahar Hania will be giving a presentation at SmartTransit West on the importance of advanced driver assistance systems in the rail industry today and why the industry should expedite adoption before the next major accident occurs. Hania will also participate in a panel discussion at the event on the future of rail, emphasizing the need for collision avoidance systems for improved safety and operational efficiency.

About Rail Vision Ltd.

Rail Vision is a development stage technology company that is seeking to revolutionize railway safety and the data-related market. The company has developed cutting edge, artificial intelligence based, industry-leading technology specifically designed for railways. The company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality. For more information please visit https://www.railvision.io/

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other 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, the Company is using forward-looking statements when it discusses the potential of the Company’s products. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F filed with the SEC on May 16, 2022. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. 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. Rail Vision is not responsible for the contents of third-party websites.

Contacts
Shahar Hania
Chief Executive Officer
Rail Vision Ltd.
15 Ha'Tidhar St
Ra'anana, 4366517 Israel
Telephone: +972- 9-957-7706

FAQ

What will Rail Vision showcase at SmartTransit West in Denver?

Rail Vision will present its innovative AI-based railway safety solutions at SmartTransit West from October 24-26, 2022.

What was the outcome of Rail Vision's participation in InnoTrans 2022?

Rail Vision reported strong interest in its AI solutions, with hopes to convert this into long-term pilots and commercial contracts.

Who is the CEO of Rail Vision and what will he discuss at SmartTransit?

CEO Shahar Hania will discuss advanced driver assistance systems and the need for collision avoidance systems at SmartTransit.

What technology does Rail Vision utilize for railway safety?

Rail Vision uses AI and deep learning technologies to detect and classify obstacles on or near the tracks.

What is the goal of Rail Vision's technology?

The goal is to improve train safety, prevent collisions, and increase operational efficiency for railway operators.