May 26, 2022

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Foresight Picked by Leading European Auto Producer for Joint POC Job | Company

4 min read

NESS ZIONA, Israel–(Business enterprise WIRE)–May perhaps 28, 2021–

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive eyesight systems, declared now the signing of a joint evidence of notion (POC) task with an American subsidiary of a foremost European passenger car or truck company. The challenge is meant to check Foresight’s stereoscopic technologies skills to boost the car or truck manufacturer’s current active security functions without the need of requiring further sensors and infrastructure. Adhering to effective completion of the venture and satisfactory end result, the vehicle manufacturer might consider integrating Foresight’s answers into its car or truck safety applications.

The undertaking, which is based on a predefined technological statement of get the job done, is composed of two phases: a feasibility tests stage followed by a simulation and real-daily life tests section. Total expected thought for the POC is up to $120,000.

“We are delighted to have been picked out by 1 of the main European passenger car suppliers to conduct a proof of thought challenge to exam our means to increase existing mono digital camera-primarily based safety units using our innovative stereoscopic technologies,” claimed Haim Siboni, CEO of Foresight. “This venture may possibly allow for us to offer you a option that can be readily deployed in cars outfitted with degree 2 and stage 3 autonomy techniques. Moreover, it might let vehicle companies to choose existing security units to the following autonomy amount without difficulties induced by new hardware integrations and structure changes that usually end result in slower output timelines and supplemental fees. We feel that this task will outcome in likely expanded alternatives with extra top automotive OEM’s all over the world.”

The evidence of notion task is created attainable with Foresight’s patented automatic calibration solution that is developed to develop a stereo process making use of two mono cameras with overlapping fields-of-watch in get to boost a vehicle’s State-of-the-art Driver Help System’s general performance in conditions of detection high-quality, length accuracy and robustness.

About Foresight

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology firm building wise multi-spectral vision computer software methods and mobile-based programs. As a result of the Company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Internet Cellular Ltd., Foresight develops both equally “in-line-of-sight” vision methods and “beyond-line-of-sight” incident-prevention solutions.

Foresight’s vision answers include things like modules of computerized calibration, sensor fusion and dense 3D issue cloud that can be used to numerous marketplaces such as automotive, defense, autonomous automobiles and large industrial machines. Eye-Web Mobile’s mobile-centered solution suite supplies authentic-time pre-collision alerts to enhance road safety and situational awareness for all street users in the city mobility surroundings by incorporating cutting-edge AI know-how and advanced analytics.

For additional data about Foresight and its wholly owned subsidiary, Foresight Automotive, check out www.foresightauto.com, adhere to @ForesightAuto1 on Twitter, or be a part of Foresight Automotive on LinkedIn.

Forward-Searching Statements

This press launch contains ahead-looking statements within just the this means of the “safe harbor” provisions of the Non-public Securities Litigation Reform Act of 1995 and other Federal securities legislation. Words this kind of as “expects,” “anticipates,” “intends,” “designs,” “believes,” “seeks,” “estimates” and very similar expressions or variations of these words and phrases are intended to identify ahead-seeking statements. For case in point, Foresight is utilizing ahead-looking statements in this push launch when it discusses the gains and abilities of its products and solutions, the final results of the proof of concept task, that next profitable completion of the challenge and satisfactory final result, the vehicle producer may take into consideration integrating Foresight’s solutions into its car safety programs, and the anticipated thing to consider of the proof of notion challenge. For the reason that these types of statements deal with upcoming events and are based mostly on Foresight’s present expectations, they are subject matter to numerous threats and uncertainties, and genuine final results, general performance or achievements of Foresight could vary materially from people described in or implied by the statements in this push launch.

The ahead-searching statements contained or implied in this press launch are subject matter to other pitfalls and uncertainties, such as people mentioned below the heading “Possibility Variables” in Foresight’s once-a-year report on Variety 20-F filed with the Securities and Trade Commission (“SEC”) on March 30, 2021, and in any subsequent filings with the SEC. Except as in any other case needed by law, Foresight undertakes no obligation to publicly release any revisions to these ahead-on the lookout statements to mirror situations or situation soon after the day hereof or to reflect the prevalence of unanticipated occasions. References and links to internet websites have been provided as a advantage, and the information contained on this kind of websites is not included by reference into this push launch. Foresight is not accountable for the contents of third party sites.

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Supply: Foresight Autonomous Holdings Ltd.

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PUB: 05/28/2021 08:00 AM/DISC: 05/28/2021 08:02 AM

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