Welcome to our dedicated page for Foresight Autonomous Hldgs news (Ticker: FRSX), a resource for investors and traders seeking the latest updates and insights on Foresight Autonomous Hldgs stock.
News and updates for Foresight Autonomous Holdings Ltd. (FRSX) focus on its activities as a technology company developing advanced three-dimensional (3D) perception and cellular-based safety applications. Company press releases highlight developments across its subsidiaries, including Foresight Automotive, Foresight Changzhou Automotive and Eye-Net Mobile, and describe progress in in-line-of-sight vision systems and beyond-line-of-sight accident-prevention solutions.
Readers of this news feed can follow announcements about collaborations and proof-of-concept projects involving Foresight’s 3D perception modules, multi-spectral stereoscopic cameras and AI-based analytics. Recent items have described agreements with manufacturers of road safety and infrastructure maintenance vehicles, cooperation with a Chinese stereo vision solutions provider, and joint development efforts with infrared imaging specialists to create cost-effective stereoscopic thermal cameras for advanced driver assistance systems and autonomous vehicles.
The news stream also covers Eye-Net Mobile’s vehicle-to-everything (V2X) collision prevention platform, including large-scale public transportation safety trials, participation in smart mobility initiatives and demonstrations of its cellular-based collision alert system for vulnerable road users such as pedestrians and cyclists. These updates provide insight into how Eye-Net’s technology is being evaluated for integration into mobile applications, telematics units and public transit networks.
In addition, Foresight’s releases report on capital markets and regulatory matters, such as investments in Eye-Net, warrant issuances, reverse share split plans and communications regarding Nasdaq listing compliance. Investors and observers can use this page to review the company’s official announcements on technology demonstrations, strategic cooperation agreements, mobility trials and corporate actions related to the FRSX stock.
Foresight Autonomous Holdings Ltd. (FRSX) reported its 2020 financial results, ending with $43.9 million in cash and short-term deposits. The company posted a GAAP operating loss of $12.84 million, a reduction from $15.03 million in 2019. Fourth-quarter GAAP net loss was $3.96 million, improved from $4.37 million year-over-year. Key developments included a $26 million capital raise and successful partnerships, including a significant investment in its affiliate Rail Vision. R&D expenses decreased, reflecting cost-cutting measures during the pandemic.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced that its subsidiary, Eye-Net Mobile, will conduct technological demonstrations of its Eye-Net™ Protect V2X system over a 5G network in collaboration with a major European cellular provider. The demonstrations aim to test software performance and may lead to a pilot project. Eye-Net Protect enhances road safety by providing real-time collision alerts to vulnerable users such as pedestrians and cyclists, adapting seamlessly to various cellular infrastructures.
Foresight Autonomous Holdings Ltd. (FRSX) announced a partnership between its subsidiary Eye-Net Mobile and WunderCar Mobility Solutions, enhancing urban micro-mobility safety. Eye-Net™ Protect, an accident prevention solution, will be integrated into Wunder's online Marketplace to reach global customers focusing on mobility tech. This collaboration aims to address safety concerns as micro-mobility use grows, with Eye-Net's AI-driven alerts improving awareness for pedestrians and users. The partnership targets the European market following Eye-Net's earlier success in Japan.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced it received a notice of allowance for its patent application in China for a running vehicle alerting system. This technology detects traffic signs and generates alerts to prevent collisions, integrating with the Eye-Net Mobile application. The patent also received approval from the U.S. Patent and Trademark Office in 2019. This innovation aims to enhance automotive safety and is part of Foresight’s strategy to target the Advanced Driver Assistance Systems market.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced a pilot project with a major Japanese vehicle manufacturer, testing its Eye-Net™ Protect V2X accident prevention solution. This project is significant as it's Eye-Net Mobile's third collaboration in Japan, aiming to enhance automotive safety through real-time pre-collision alerts. Dror Elbaz, COO of Eye-Net Mobile, highlighted this project as an entry into a new market, indicating the automotive industry's need for effective software solutions to prevent accidents.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) will participate in the all-digital CES 2021 event from January 12-14, 2021. The company will showcase advancements in its automatic calibration software for stereo cameras, enhancing depth perception and obstacle detection. The innovative solution allows flexible camera placement, improving performance up to several hundred meters. One-on-one virtual meetings will be available during the event. Founded in 2015, Foresight focuses on automotive sensor systems, targeting safety in advanced driver assistance systems and autonomous vehicles.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced a registered direct offering of 6,265,063 American Depositary Shares (ADSs) priced at $4.15 each, aiming for approximately $26 million in gross proceeds. The funds will be allocated for working capital and corporate purposes. The closing is anticipated around December 30, 2020, subject to customary conditions. A.G.P./Alliance Global Partners leads the placement, with Aegis Capital Corp. as co-agent. The offering is under an effective shelf registration statement filed with the SEC.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) has joined the University of Michigan's TechLab at Mcity 2021 startup cohort to develop its automotive vision systems for Advanced Driver Assistance Systems (ADAS) and autonomous vehicles. The one-year program includes collaboration with engineering students, aiming to enhance Foresight’s vision system performance in adverse conditions. This partnership grants access to Mcity's advanced test facility, crucial for demonstrating connected and automated vehicle technologies.
Foresight Autonomous Holdings Ltd. (FRSX) announced that its affiliate Rail Vision Ltd. received an order from Knorr-Bremse for two samples of its light rail vehicle (LRV) system, generating expected revenue of €400,000. Knorr-Bremse, a major player in the industry, previously invested €10 million in Rail Vision. The light rail market, valued at $8.6 billion in 2020, is projected to grow to $10.8 billion by 2027. Rail Vision’s system utilizes advanced sensor technology to detect obstacles and enhance safety in various conditions.
Foresight Autonomous Holdings Ltd. (FRSX) has been awarded a nearly €20 million grant by the European Commission for the AWARD consortium focused on developing autonomous heavy-duty vehicles for harsh weather. Foresight will provide its QuadSight® multispectral vision system and is expected to receive approximately $1 million from this funding. The project, coordinated by EasyMile, aims to improve safety and efficiency in freight transport and will span three years starting in 2021.
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