Rail Vision Signs Exclusive Agreement with Leading Indian Rail Supplier to Penetrate the Indian Rail Market
Rail Vision (RVSN) has signed a binding Memorandum of Understanding (MOU) with Sujan Ventures, a division of the Sujan Group, to introduce its advanced railway safety systems to the Indian market. The agreement targets India's national railway system, which operates approximately 15,000 locomotives.
Under the MOU terms, Sujan Ventures will lead local efforts and have exclusive distribution rights in India. The collaboration will begin with a trial of Rail Vision's systems at customer facilities. Upon approval, the parties will proceed with a definitive agreement. Sujan Ventures will make an initial upfront payment and additional milestone-based payments.
The partnership aims to position Rail Vision's technologies for inclusion in future tenders requiring thousands of locomotives to be equipped with advanced accident avoidance systems, particularly for adverse weather conditions. The collaboration also aligns with India's 'Make in India' initiatives, ensuring locally-sourced safety systems meet global standards.
Rail Vision (RVSN) ha firmato un Memorandum of Understanding (MOU) vincolante con Sujan Ventures, una divisione del Sujan Group, per introdurre i suoi avanzati sistemi di sicurezza ferroviaria nel mercato indiano. L'accordo si rivolge al sistema ferroviario nazionale dell'India, che gestisce circa 15.000 locomotive.
Secondo i termini del MOU, Sujan Ventures guiderà gli sforzi locali e avrà diritti di distribuzione esclusivi in India. La collaborazione inizierà con un trial dei sistemi di Rail Vision presso le strutture dei clienti. Dopo l'approvazione, le parti procederanno con un accordo definitivo. Sujan Ventures effettuerà un pagamento iniziale e ulteriori pagamenti basati su traguardi.
Il partenariato mira a posizionare le tecnologie di Rail Vision per l'inclusione in futuri bandi che richiedono migliaia di locomotive equipaggiate con avanzati sistemi di prevenzione degli incidenti, in particolare in condizioni meteorologiche avverse. La collaborazione si allinea anche con le iniziative 'Make in India' dell'India, assicurando che i sistemi di sicurezza locali soddisfino gli standard globali.
Rail Vision (RVSN) ha firmado un Memorando de Entendimiento (MOU) vinculante con Sujan Ventures, una división del Sujan Group, para introducir sus avanzados sistemas de seguridad ferroviaria en el mercado indio. El acuerdo se dirige al sistema ferroviario nacional de la India, que opera aproximadamente 15,000 locomotoras.
Según los términos del MOU, Sujan Ventures liderará los esfuerzos locales y tendrá derechos de distribución exclusivos en India. La colaboración comenzará con una prueba de los sistemas de Rail Vision en las instalaciones del cliente. Tras la aprobación, las partes procederán a un acuerdo definitivo. Sujan Ventures realizará un pago inicial y pagos adicionales basados en hitos.
La asociación tiene como objetivo posicionar las tecnologías de Rail Vision para su inclusión en futuros concursos que requieran miles de locomotoras equipadas con avanzados sistemas de prevención de accidentes, especialmente en condiciones meteorológicas adversas. La colaboración también se alinea con las iniciativas 'Make in India' de India, asegurando que los sistemas de seguridad de origen local cumplan con los estándares globales.
Rail Vision (RVSN)는 Sujan Ventures와 구속력이 있는 양해각서(MOU)를 체결하여 고급 철도 안전 시스템을 인도 시장에 소개하기로 했습니다. 이 계약은 약 15,000대의 기관차를 운영하는 인도의 국가 철도 시스템을 목표로 하고 있습니다.
MOU 조건에 따라 Sujan Ventures는 지역 노력을 이끌고 인도에서 독점 배급권을 갖게 됩니다. 협력은 고객 시설에서 Rail Vision의 시스템에 대한 시험으로 시작됩니다. 승인이 나면 양 당사자는 최종 계약을 진행할 것입니다. Sujan Ventures는 초기 선불금을 지급하고 추가적으로 이정표 기반의 지급을 할 것입니다.
이번 파트너십은 Rail Vision의 기술이 수천 대의 기관차에 첨단 사고 회피 시스템을 장착해야 하는 향후 입찰에서 포함될 수 있도록 하는 것을 목표로 하며, 특히 악천후 조건에서 그렇습니다. 협력은 또한 인도의 'Make in India' 이니셔티브와 일치하여, 현지에서 조달한 안전 시스템이 글로벌 기준을 충족하도록 보장합니다.
Rail Vision (RVSN) a signé un protocole d'accord (MOU) contraignant avec Sujan Ventures, une division du Sujan Group, pour introduire ses systèmes avancés de sécurité ferroviaire sur le marché indien. L'accord cible le système ferroviaire national de l'Inde, qui exploite environ 15 000 locomotives.
Selon les termes du MOU, Sujan Ventures dirigera les efforts locaux et aura des droits de distribution exclusifs en Inde. La collaboration commencera par un essai des systèmes de Rail Vision dans les installations des clients. Après approbation, les parties procéderont à un accord définitif. Sujan Ventures effectuera un paiement initial et des paiements supplémentaires basés sur des étapes.
Ce partenariat vise à positionner les technologies de Rail Vision pour leur inclusion dans de futurs appels d'offres nécessitant des milliers de locomotives équipées de systèmes avancés d'évitement d'accidents, notamment dans des conditions météorologiques défavorables. La collaboration s'inscrit également dans le cadre des initiatives 'Make in India' de l'Inde, garantissant que les systèmes de sécurité d'origine locale répondent aux normes mondiales.
Rail Vision (RVSN) hat ein verbindliches Memorandum of Understanding (MOU) mit Sujan Ventures, einer Division der Sujan Group, unterzeichnet, um seine fortschrittlichen Eisenbahnsicherheitssysteme auf dem indischen Markt einzuführen. Die Vereinbarung richtet sich an Indiens nationales Eisenbahnsystem, das ungefähr 15.000 Lokomotiven betreibt.
Gemäß den Bedingungen des MOU wird Sujan Ventures die lokalen Bemühungen leiten und exklusive Vertriebsrechte in Indien erhalten. Die Zusammenarbeit beginnt mit einer Erprobung der Systeme von Rail Vision in den Einrichtungen der Kunden. Nach Genehmigung werden die Parteien mit einem endgültigen Vertrag fortfahren. Sujan Ventures wird eine erste Vorauszahlung sowie zusätzliche milestonesbasierte Zahlungen leisten.
Die Partnerschaft zielt darauf ab, die Technologien von Rail Vision für zukünftige Ausschreibungen bereitzustellen, in denen Tausende von Lokomotiven mit fortschrittlichen Unfallvermeidungssystemen ausgestattet werden müssen, insbesondere unter schlechten Wetterbedingungen. Die Zusammenarbeit steht auch im Einklang mit Indiens Initiativen 'Make in India', die gewährleisten, dass lokal beschaffte Sicherheitssysteme globalen Standards entsprechen.
- Access to Indian railway market with ~15,000 locomotives potential
- Exclusive distribution agreement with established local partner
- Secured upfront payment and milestone-based payments
- Alignment with 'Make in India' initiative enhancing market entry prospects
- Agreement is preliminary (MOU) pending successful trials
- Final agreement and revenue generation dependent on customer approval
- No specific financial terms or contract values disclosed
Insights
Collaboration targets inclusion in major rail safety tenders, aiming for thousands of locomotives in India to be outfitted with state-of-the-art technologies
Ra’anana, Israel, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related market, announced today the signing of a binding Memorandum of Understanding (MOU) with Sujan Ventures, a division of the esteemed Sujan Group, a premier technology and components supplier to the Indian rail industry. Indian Railways, which operates India's national railway system, boasts one of the largest rail networks in the world, with approximately 15,000 locomotives.
Under the terms of the binding MOU, Sujan Ventures will lead local efforts to introduce Rail Vision’s advanced safety systems to the Indian market. As an initial step, Rail Vision will conduct a short trial of its systems at the customer’s facilities to demonstrate their capabilities. Following satisfaction and approval of Sujan Venture’s customers, the parties intend to proceed with a definitive agreement to advance their collaboration.
Sujan Ventures shall make an initial upfront payment to the Company and will make additional payments upon the completion of certain milestones. In addition, during the term of the MOU, Sujan Ventures shall have the exclusive right to negotiate and enter an agreement to distribute the Company’s solutions in India.
This collaboration aims to position Rail Vision’s innovative technologies for inclusion in future tenders and ongoing projects to enhance rail safety by equipping locomotives with advanced systems for accident avoidance, particularly in adverse weather conditions.
These tenders will require thousands of locomotives in India to be outfitted with state-of-the-art technologies to significantly reduce accidents and casualties, creating a substantial market opportunity for Rail Vision.
Brijesh Sujan, Chief Executive Officer of Sujan Ventures commented, “We at Sujan Ventures are excited to collaborate with Rail Vision to enhance rail safety and efficiency in one of the world’s largest railway networks. With our partnership, we are proud to support Rail Vision’s solutions to become fully compliant with ‘Make in India’ initiatives, which will empower Indian Railways to deploy advanced, locally-sourced safety systems without compromising on global standards. Through our ‘HUSE – Help Us Save Earth’ initiative, we also support sustainability, ensuring safer, more efficient, and eco-friendly rail travel for millions.”
Shahar Hania, Chief Executive Officer of Rail Vision, added, “The opportunity to penetrate the vast and dynamic Indian rail market with our safety systems is truly exciting. We believe that a successful collaboration with Sujan Ventures and a strong presence in India could elevate Rail Vision to a new level in the rail safety and technology market. We are eager to bring our innovative solutions to one of the world’s largest railway industries, contributing to safer and more efficient rail operations.”
About Rail Vision Ltd.
Rail Vision is a 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 parties intention to proceed with a definitive agreement to advance their collaboration, the Company’s entry into the Indian market, including the substantial market opportunity for the Company, the Company’s receipt of additional milestone payments under the MOU, how this collaboration aims to position Rail Vision’s innovative technologies for inclusion in future tenders and ongoing projects to enhance rail safety by equipping locomotives with advanced systems for accident avoidance, particularly in adverse weather conditions and its belief that a successful collaboration with Sujan Ventures and a strong presence in India could elevate Rail Vision to a new level in the rail safety and technology market. 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 March 28, 2024. 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.
Investor Relations
Michal Efraty
investors@railvision.io
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