Rail Vision (RVSN) Ltd. announced the signing of a binding Memorandum of Understanding with Sujan Ventures, a division of the Sujan Group. Under the terms of the binding MOU, Sujan Ventures will lead local efforts to introduce Rail Vision’s advanced safety systems to the Indian market. As an initial step, Rail Vision will conduct a short trial of its systems at the customer’s facilities to demonstrate their capabilities. Following satisfaction and approval of Sujan Venture’s customers, the parties intend to proceed with a definitive agreement to advance their collaboration. Sujan Ventures shall make an initial upfront payment to the Company and will make additional payments upon the completion of certain milestones. In addition, during the term of the MOU, Sujan Ventures shall have the exclusive right to negotiate and enter an agreement to distribute the Company’s solutions in India.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RVSN:
- Rail Vision Secures Nasdaq Compliance with Bid Price Rule
- North American rail traffic up 3.1% for the week ending January 11
- Rail Vision regains compliance with Nasdaq minimum bid price rule
- Rail Vision Secures Purchase Order from Central America Freight Operator for MainLine Product
- Rail Vision receives purchase order from Central America freight operator