Foresight: Eye-Net Partners with Industry Leaders to Transform Urban Mobility and Road Safety Across Europe
Rhea-AI Summary
Foresight Autonomous Holdings (NASDAQ: FRSX) announced that its subsidiary, Eye-Net Mobile, has partnered with Software République, a consortium of global industry leaders, to integrate and test its vehicle-to-everything (V2X) collision avoidance solution in Europe. The collaboration, initially announced on November 27, 2024, will focus on deploying Eye-Net's technology in Bordeaux, France.
The project involves real-time field testing in controlled environments before expanding across the Bordeaux metropolitan area. Upon successful implementation, the solution could be deployed in dozens of European cities. The partnership includes major industry players such as Renault Group, Dassault Systèmes, Orange, Eviden, STMicroelectronics, and Thales Group, along with other stakeholders like Allianz IARD and Bordeaux University.
Eye-Net's V2X technology provides real-time alerts to protect road users within a connected ecosystem, aiming to create safer urban environments for drivers, pedestrians, and cyclists.
Positive
- Strategic partnership with major European industry leaders including Renault Group, Orange, and Thales Group
- Potential for expansion to dozens of European cities following successful implementation
- Integration into Bordeaux's metropolitan mobility transformation plan indicates market validation
Negative
- Initial deployment to controlled environments with no guaranteed timeline for wider implementation
- Success dependent on multiple stakeholders and complex integration requirements
Insights
This strategic partnership represents a pivotal market entry opportunity for Eye-Net Mobile into Europe's burgeoning V2X technology sector. The collaboration with Software République's powerhouse members - including Renault Group, Orange S.A. and STMicroelectronics - provides immediate access to established distribution channels and technical expertise essential for rapid market penetration.
The multi-phase implementation strategy in Bordeaux serves as a important proof-of-concept that could accelerate adoption across European cities. The involvement of diverse stakeholders, from automotive manufacturers to telecommunications providers, suggests a comprehensive approach to market integration that addresses both technical and commercial challenges.
Several key factors enhance the partnership's potential impact:
- Integration with Renault's vehicle ecosystem could provide immediate scale and visibility
- Orange's telecommunications infrastructure offers robust connectivity essential for V2X technology
- STMicroelectronics' hardware expertise can optimize system performance and reliability
- The Bordeaux metropolitan test bed provides real-world validation opportunities
However, investors should note that successful commercialization depends on several factors:
- Technical validation in real-world conditions
- Regulatory approval across different European jurisdictions
- Integration with existing urban infrastructure
- Market adoption by both public and private sector stakeholders
The partnership's strategic value lies in its potential to establish Eye-Net as a leading provider of V2X solutions in Europe's smart mobility sector, which could significantly expand the company's market reach and revenue potential. The involvement of major industry players adds credibility and reduces market entry barriers, though the timeline to meaningful revenue generation may be extended due to the complex nature of urban infrastructure projects.
Ness Ziona, Israel, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator 3D perception systems, announced that its wholly owned subsidiary, Eye-Net Mobile Ltd. (“Eye-Net” or “Eye-Net Mobile”), entered into a groundbreaking collaboration with Software République, a consortium of global industry leaders, to integrate and test Eye-Net’s vehicle-to-everything (“V2X”) collision avoidance solution. This collaboration represents a significant step toward redefining urban mobility and road safety across Europe.
Eye-Net offers a collision-avoidance solution designed to protect road users within a connected ecosystem that provides real-time alerts and information to all road users to create a safer and more predictable road environment.
The collaboration, originally announced on November 27, 2024, focuses on deploying Eye-Net’s advanced digital services in the metropolitan area of Bordeaux, France, as part of Bordeaux Métropole’s comprehensive urban mobility transformation. With Software République’s powerhouse founders, including Renault Group, Dassault Systèmes SE, Orange S.A., Eviden, STMicroelectronics N.V, and Thales Group, alongside other prominent partners, this initiative aims to create safer and more efficient transportation systems, leveraging cutting-edge connected technology.
A Blueprint for Europe-Wide Expansion
The project is a multi-phase initiative that begins with real-time field testing of Eye-Net’s V2X technology in controlled environments. Upon successful evaluation, the solution is set to be deployed across the Bordeaux metropolitan area and could expand to dozens of European cities, enabling widespread commercial adoption.
This agreement aligns with Bordeaux Metropole’s comprehensive mobility plan to promote sustainability, safety, and efficiency in urban transportation. Eye-Net’s technology plays a critical role in connecting road users in real time, providing alerts that reduce non-line-of-sight collisions and create safer urban environments for drivers, pedestrians, and cyclists.
Strategic Collaboration with Visionary Partners
The agreement includes collaboration with a range of industry leaders and public mobility stakeholders, such as Allianz IARD, Bordeaux University, Keolis Bordeaux Métropole Mobilités, and others. This unified approach ensures robust testing and integration of Eye-Net’s technology, demonstrating its ability to address the diverse challenges of modern urban mobility.
Leadership in European Mobility Innovation
“This collaboration positions Eye-Net at the forefront of Europe’s urban mobility transformation,” said Dror Elbaz, Chief Executive office of Eye-Net. “By collaborating with Software République and integrating our cutting-edge V2X solution into real-world applications, we are advancing road safety and paving the way for significant commercial penetration across the European market. This is a breakthrough that can redefine connected transportation and protect millions of road users.”
The Future of Urban Mobility Starts Here
Eye-Net’s V2X technology leverages real-time communication between vehicles and their surroundings to enable smarter, safer, and more predictable transportation systems. With its scalable approach, the collaboration in Bordeaux is poised to act as a launchpad for a Europe-wide revolution in road safety and connected mobility.
For more information about Eye-Net Mobile, please visit www.eyenet-mobile.com, or follow the Company’s LinkedIn page, Eye-Net Mobile; X (formerly Twitter), @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.
About Software République
The Software République is an open innovation ecosystem dedicated to intelligent, secure, and sustainable mobility. It was founded in April 2021 by six founding members: Dassault Systèmes SE, Eviden, Orange S.A., Renault Group, STMicroelectronics N.V and Thales Group. In March 2024, JC Decaux joined the ecosystem.
The Software République builds collective businesses focused on the future of mobility through its unique horizontal collaboration model. The ecosystem stands out for its innovative approach, combining established companies and start-ups from different backgrounds to bring to market products and services that meet the new challenges of the connected vehicle, the smart city and energy. These projects are based on the complementary expertise of its partners in data analysis, artificial intelligence, cybersecurity, connectivity, and digital twins, and on the ambition to invent a new model of innovation while keeping people and the environment at the heart of its motivations.
For more information about Software République: https://softwarerepublique.eu/
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 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 the belief that this collaboration represents a significant step toward redefining urban mobility and road safety across Europe, the aims of the initiative, the belief that upon successful evaluation, the V2X solution may be deployed across the Bordeaux metropolitan area and could expand to dozens of European cities, enabling widespread commercial adoption, the belief that this agreement aligns with Bordeaux Metropole’s comprehensive mobility plan to promote sustainability, safety, and efficiency in urban transportation, the belief that the collaboration ensures robust testing and integration of Eye-Net’s technology, which demonstrates an ability to address the diverse challenges of modern urban mobility, the belief that this collaboration positions Eye-Net at the forefront of Europe’s urban mobility transformation, the belief that this collaboration advances road safety and paves the way for significant commercial penetration across the European market, the belief that this collaboration is a breakthrough that can redefine connected transportation and protect millions of road users, and the belief that the collaboration in Bordeaux is poised to act as a launchpad for a Europe-wide revolution in road safety and connected mobility. 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
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