Foresight

Eye-Net Secures Follow-up Order from Leading Japanese Vehicle Manufacturer

Eye-Net targets integration into the vehicle manufacturer’s existing ADAS systems

Ness Ziona, Israel, March 19, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its wholly-owned subsidiary, Eye-Net Mobile Ltd. (“Eye-Net”), has received an additional order for a paid development project from a leading global Japanese vehicle manufacturer, following the successful completion of the first two phases of a paid proof-of-concept (POC) project.

As reported by the Company on February 28, 2023, the parties engaged in a paid POC project to evaluate the added value and capabilities of Eye-Zone as a software vehicle-to-everything (V2X) communication layer. The successful completion of that phase is a significant milestone, demonstrating the feasibility and potential benefits of Eye-Net's technology for the automotive industry.

The parties have decided to proceed to the next phase of the project. In this phase, the vehicle manufacturer will assess the potential of Eye-Zone to act as key infrastructure for point-to-point transmission of safety messages between the vehicle and designated users in the same vicinity. This unprecedented capability will potentially facilitate seamless communication between vehicles and all road users and help, in particular, vulnerable road users. Upon successful evaluation, the parties will explore potential commercial opportunities.

Eye-Zone is Eye-Net’s Linux-based solution, offering Eye-Net’s unique V2X technology for the automotive industry (vehicle manufacturers and Tier One and Tier Two suppliers). Eye-Zone runs the same core services and managers as the Eye-Net Protect software development kit. The solution provides alerts and indications to the driver, as well as real time location and movement characteristic streaming, of road users in the vicinity of the vehicle. Eye-Zone can be easily integrated into various automotive systems such as advanced driver assistance systems (ADAS), navigation systems and infotainment systems.

For more information about Eye-Net Mobile, please visit 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.

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.