Foresight enters development service agreement with Japanese manufacturer

Foresight Autonomous (FRSX) Holdings announced the signing of a development service agreement with a Japanese manufacturer of road traffic, hazard management and monitoring solutions. The agreement was signed through the company’s Japanese distributor, Cornes Technologies, to establish a framework for future project collaborations and commercialization, aimed at enhancing the safety and efficiency of road traffic and hazard management, while driving cost-effectiveness in product development and production. The initial project will focus on implementing and optimizing Foresight’s advanced 3D perception system to detect, in real time, vehicles merging onto highways from entrance ramps and service areas and determine the speed and direction of these detected vehicles. The next project will involve the development of advanced products equipped with dual stereoscopic camera systems. These systems will comprise a visible light camera set paired with a thermal long-wave infrared camera set, each independently mounted on service or patrol vehicles. According to the service agreement, the commercial terms for individual development projects will be determined according to specific technical requirements and scope of work for each product. The company believes that this agreement will contribute to accelerating its revenue growth in the coming years.