Rail Vision Receives Purchase Order from Loram, a Top US-Based Railway Track Maintenance Supplier

Ra’anana, Israel, April 03, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related market, today announced it has received an order for its AI-driven Switch Yard System from Loram, a leading US- based provider of railway track maintenance equipment and services.

The order from Loram serves as a pilot project aimed at leveraging Rail Vision’s advanced technology to enhance Loram's rail track maintenance operations. This collaboration emphasizes both companies' commitment to pioneering railway safety and operational efficiency. Should the pilot prove successful, the two companies will consider an expansion of this collaboration, further integrating Rail Vision's innovative solutions into Loram's service offerings across the United States.

Further cementing its presence in the U.S. market, Rail Vision's engagement with Loram expands its growing footprint, building on recent milestones, which include a significant sale to a Class 1 US Railroad Company and securing an order from a leading US-based rail contractor valued at up to $5 million.

“We are excited to embark on this project with Loram, a company that shares our dedication to enhancing rail safety and efficiency through innovation and technology,” said Shahar Hania, Rail Vision's Chief Executive Officer. “We believe that this collaboration, alongside our recent successes in the US market, represents a step forward in our mission to redefine railway operations worldwide and establish our brand in the US.”

About Loram

Based in Hamel, Minnesota Loram has offices around the world and offers a range of services including rail grinding, ballast cleaning, friction management, material handling, track inspection technologies, and structural monitoring.  For more information about Loram and its services, please visit www.Loram.com

About Rail Vision Ltd.

Rail Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed cutting-edge, artificial intelligence-based, industry-leading technology specifically designed for railways. The Company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality. For more information, please visit https://www.railvision.io/