Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced that the European Commission, through the Horizon 2020 framework program, has awarded a funding grant of nearly 20 million Euro for the All Weather Autonomous Real logistics operations and Demonstrations (“AWARD”) consortium to develop and operate safe autonomous heavy-duty vehicles in harsh weather conditions in a variety of different scenarios. As part of the project, Foresight will provide its QuadSight(R) multispectral vision solution, and is expected to receive approximately one million USD. According to the update, the AWARD project will be rolled out in 2021 for a period of three years.
To view the full press release, visit https://ibn.fm/moNdc
About Foresight Autonomous Holdings Ltd.
Foresight, founded in 2015, is a technology company engaged in the design, development and commercialization of sensors systems for the automotive industry. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of sight” vision systems and “beyond-line-of-sight” cellular-based applications. Foresight’s vision sensor is a four-camera system based on 3D video analysis, advanced algorithms for image processing, and sensor fusion. Eye-Net Mobile’s cellular-based application is a V2X (vehicle-to-everything) accident prevention solution based on real-time spatial analysis of clients’ movement.
The company’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is targeting the advanced driver assistance systems (“ADAS”), the semi-autonomous and autonomous vehicle markets and predicts that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.ForesightAuto.com
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
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