Foresight Partners with University of Michigan's TechLab at Mcity to Enhance Vision Systems for Autonomous Vehicles
December 16 2020 - 7:30AM
Business Wire
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an
innovator in automotive vision systems, announced today that the
Company will join the University of Michigan's TechLab at Mcity
2021 startup cohort, managed by the Center for Entrepreneurship, to
further develop its automotive vision system designed for Advanced
Driver Assistance Systems (ADAS) and autonomous vehicles.
Foresight will participate in the one-year program with a team
of students from technical departments at the University of
Michigan focused on the development, demonstration, and deployment
of key autonomous vehicle technologies. The team will be mentored
by Foresight’s Head of Algorithm and leading team members.
By joining the program, Foresight will have access to a test
facility in the heart of the largest automotive hub in the United
States, and will be able to run short-cycle demonstrations to local
prospects. Mcity’s test facility mimics real communities and
roadways and is focused on connected and automated testing.
"We are thrilled to join TechLab at Mcity and to have access to
a leading mobility research and test facility," said Haim Siboni,
CEO of Foresight. "We are hopeful that collaboration with TechLab
at Mcity will enhance Foresight’s vision system capabilities to
achieve outstanding performance in any lighting and harsh weather
conditions, reduce the rate of road accidents and save lives."
About TechLab at Mcity
TechLab at Mcity is a Company-in-Residence program
(company-sponsored technical projects housed at Mcity and the Ann
Arbor campus) for early-stage advanced mobility companies in the
connected and autonomous vehicle (CAV) industry through the work of
elite and technically-skilled students. The program pairs emerging
transportation startups (Post-series A funding) with top-tier
undergraduate students studying Engineering, Computer Science, and
Data Analytics interested in tackling industry challenges defined
by technical projects, with the goal of educating students through
mentorship and immersive interaction with high-growth ventures. The
program aims to develop a talent pipeline for the growing CAV
industry, connecting students and company sponsors, leveraging the
University of Michigan's regional access to automotive and
transportation industry legacies.
About Foresight Foresight
Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), founded in 2015,
is a technology company engaged in the design, development and
commercialization of sensors systems for the automotive industry.
Through the company’s wholly owned subsidiaries, Foresight
Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both
“in-line-of-sight” vision systems and “beyond-line-of-sight”
cellular-based applications. Foresight’s vision sensor is a
four-camera system based on 3D video analysis, advanced algorithms
for image processing, and sensor fusion. Eye-Net Mobile’s
cellular-based application is a V2X (vehicle-to-everything)
accident prevention solution based on real-time spatial analysis of
clients’ movement.
The company’s systems are designed to improve driving safety by
enabling highly accurate and reliable threat detection while
ensuring the lowest rates of false alerts. Foresight is targeting
the Advanced Driver Assistance Systems (ADAS), the semi-autonomous
and autonomous vehicle markets and predicts that its systems will
revolutionize automotive safety by providing an automotive-grade,
cost-effective platform and advanced technology.
For more information about Foresight and its wholly owned
subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on
Twitter, or join Foresight Automotive on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 and other Federal securities laws.
Words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates" and similar expressions or
variations of such words are intended to identify forward-looking
statements. For example, Foresight is using forward-looking
statements in this press release when it discusses participating in
the program at the University of Michigan's TechLab at Mcity, and
that collaboration with TechLab at Mcity will enhance Foresight’s
vision system capabilities to achieve outstanding performances in
any lighting and harsh weather conditions, reduce the rate of road
accidents and save lives. Because such statements deal with future
events and are based on Foresight’s current expectations, they are
subject to various risks and uncertainties, and actual results,
performance or achievements of Foresight could differ materially
from those described in or implied by the statements in this press
release.
The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties,
including those discussed under the heading "Risk Factors" in
Foresight's annual report on Form 20-F filed with the Securities
and Exchange Commission ("SEC") on March 31, 2020, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Foresight undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Foresight is not responsible for the contents of third party
websites.
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Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
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