Rail Vision Reflects on Positive Operational Highlights Since the Start of 2024

Scaling Up Commercialization

• Announced first-ever commercial installation of its AI-driven systems in a national railways line
• Achieved regulatory approval and certificate for railway operation in Europe
• Joined NVIDIA metropolis to boost railway safety
• Received order from a Class 1 US railroad company for its AI-based safety products
• Expanded USA footprint with a national distributer engagement for Rail Vision AI- driven railway system US
• Received an order for its AI-driven ShuntingYard product from Loram, a leading US-based provider of railway track maintenance equipment and services
• Received notice of allowance for US patent on AI-powered railway obstacle detection system
  

Ra’anana, Israel, May 24, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related SaaS market, today shared several commercial and technological accomplishments since the start of 2024, including valuable developments with tier one rail companies in the United States, the expansion of its distribution network and additional new partnerships and technological advancements. As Rail Vision progresses through 2024, the Company remains focused on scaling up to capitalize on opportunities with industry leaders, especially in United States.

Additional Q1 2024 and recent key milestones and achievements:

• Revealed its next generation computing unit for its accident prevention AI-based ADAS products MainLine and ShuntingYard
• Received notice of allowance for US patent on AI-powered railway obstacle detection system
• Received patent approval from the Indian patent office
• Received $1 million order out of a contract valued at up to $5 million in potential follow-on orders with leading US-based rail and leasing services company

"Recent months were fruitful for the company. We significantly expanded our reach in the US, advanced our technology, and strengthened our IP protection," said Shahar Hania, CEO of Rail Vision. "We started 2024 by securing over $5 million to fuel our business through a pair of financing transactions . In the last five months, we achieved important milestones, including the first-ever commercial installation of our products, several engagements with US industry leaders, a significant regulatory certification in Europe, and multiple patent approvals. Looking ahead, we plan to bolster our global awareness as a provider of innovative and advanced railway safety."