Foresight Expands Thermal Imaging Market Potential as New Safety Regulation is Implemented by U.S. Department of Transportation
16 Mai 2024 - 2:48PM
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX)
(“Foresight” or the “Company”), an innovator in automotive vision
solutions, welcomes the finalization by the U.S. Department of
Transportation’s National Highway Traffic Safety Administration
(the “NHTSA”) of a new federal motor vehicle safety standard (the
“Safety Regulation”). The Safety Regulation requires automatic
emergency braking (“AEB”) systems in all new passenger cars and
light trucks manufactured by September 2029. The regulation
highlights the critical role thermal imaging plays in enhancing
vehicle safety through superior object and pedestrian detection in
challenging lighting conditions.
The NHTSA estimates this regulation will save at
least 360 lives and prevent 24,000 injuries annually. AEB systems
use sensors to detect oncoming collisions and automatically apply
the brakes if the driver has not. While AEB is a valuable safety
feature, it can have limitations in certain lighting and weather
conditions. Thermal imaging uses heat signatures to detect objects,
including humans and animals, in challenging conditions such as
darkness, glare, and adverse weather. The Company believes that its
thermal imaging technology offers superior pedestrian detection,
making it a perfect complement to existing AEB systems.
The Company believes that being a pioneering
innovator of automotive vision solutions using groundbreaking
stereoscopic thermal imaging technology, gives it a significant
advantage in offering safer AEB solutions. In addition, as the
Safety Regulation is expected to lead to increased demand for
thermal cameras, the associated costs are expected to decrease
substantially in the coming years. The Company believes that it can
help its customers comply with NHTSA standards and can offer
vehicle manufacturers a readily available sophisticated and
affordable thermal imaging solution engineered to save lives on
roads.
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 (3D) 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 expected phase-in compliance date for the Safety Regulation,
the expected safety benefits of the implementation of the Safety
Regulation, the advantages of its thermal imaging technology, its
expectation that associated costs related to thermal cameras are
likely to decrease substantially, and that it believes it can help
its customers and vehicle manufacturers comply with NHTSA standards
with its readily available technology. 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 CEOMS-IR LLC msegal@ms-ir.com917-607-8654
Foresight Autonomous (NASDAQ:FRSX)
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