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Foresight Subsidiary Eye-Net Mobile Signs Agreement with Smart City Company NoTraffic Ltd

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced that its wholly owned subsidiary, Eye-Net Mobile Ltd., has signed a collaboration agreement with NoTraffic Ltd. NoTraffic developed a novel and proprietary Autonomous Traffic Management Platform solution that solves today’s traffic challenges while unlocking mobility benefits for traffic agencies. The platform enables cities for the first time to intelligently implement their traffic policy in a seamless way and operate autonomously in order to maximize traffic flow, reduce congestion, prioritize different types of vehicles, and prevent accidents.

“The technological collaboration between Eye-Net Mobile and NoTraffic has the potential to redefine smart infrastructures and road users’ connectivity”

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According to the agreement, the companies will collaborate to develop and optimize the technological abilities of Eye-Net Mobile’s cellular-based V2X accident prevention solution and NoTraffic’s intelligent traffic management solution. Following the completion of joint development, the companies will promote the integration and commercialization of the combined solution with various municipalities in North America and throughout the world. The commercialization terms and conditions will be agreed upon in the future.

Eye-Net Mobile and NoTraffic successfully collaborated in June 2018 in a trial with the city of Ashdod, Israel, which demonstrated Eye-Net Mobile’s innovative technologies and created a reliable communication channel between road users and NoTraffic’s smart infrastructure. During the trial, NoTraffic’s intelligent traffic light sent alerts to connected Eye-Net road users about cars running red lights, successfully preventing potential collisions.

“The technological collaboration between Eye-Net Mobile and NoTraffic has the potential to redefine smart infrastructures and road users’ connectivity,” said Dror Elbaz, COO & Deputy CEO of Eye-Net Mobile. “Our cooperation will enhance both products and will enable accident prevention in junctions by sharing real-time information between intelligent traffic lights and connected road users. We believe that the combined solution will be adopted by municipalities and smart cities worldwide seeking to promote smart transportation and reduce the number of accidents in urban environments.”

“While the technology surrounding us is constantly evolving and improving almost every aspect of our life, the urban environment has been neglected. Intersections are still one of the most challenging traffic bottlenecks and serve as the location for 40% of traffic accidents. NoTraffic’s technology demonstrates a significant breakthrough in the field of communications between road users and traffic infrastructure, bridging the gap between the connected and non-connected road users. Our partnership with Eye-Net Mobile allows us to harness the layer of data collected by our platform in order to provide drivers with better situational awareness of their blind spots as they approach an intersection, creating a much more efficient and safer experience for all road users,” said Tal Kreisler, CEO of NoTraffic.

For more information about Eye-Net Mobile, please visit http://www.eyenet-mobile.com or follow the company’s LinkedIn page, Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.

For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, please visit www.foresightauto.com, follow @ForesightAuto on Twitter, or join Foresight Automotive on LinkedIn, the contents of which are not incorporated into this press release.

About Foresight

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), 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 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.

About NoTraffic

NoTraffic is the world’s first autonomous traffic management platform that solves today’s traffic challenges while unlocking advanced mobility benefits for cities. The platform optimizes traffic lights grids with smart sensors and prepares the road infrastructure for the connected and autonomous era.

The platform enables cities for the first time to intelligently implement their traffic policy in a seamless way and operate autonomously in order to maximize traffic flow, reduce congestion, prioritize different types of vehicles, and prevent accidents. For more information, visit www.notraffic.tech.

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Tue. October 27th, 2020

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