Foresight Affiliate Rail Vision Receives First Order of 500,000 Euro from Leading European Train Operator
Foresight Autonomous Holdings Ltd. - American Depositary Shares (FRSX)
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Source: Business Wire
Successful prototype testing of Rail Vision’s shunting yard systems could entail the purchase of systems for 2.5 million Euro with additional 3.5 million Euro expansion option. NESS ZIONA, Israel--(BUSINESS WIRE)--Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its affiliate, Rail Vision Ltd. (Foresight owns approx. 24% of Rail Vision’s outstanding shares), received its first commercial order from a leading European train operator.As indicated by Rail Vision, the order consists of purchasing an Assisted Remote Shunting prototype system and an Operational Functional Test (OFT) for a total value of approximately 500,000 Euro. The OFT of the system is scheduled for Q4 2020. A commercial agreement with the leading European train operator detailing future phases is expected to be signed in the upcoming weeks. A successful testing of Rail Vision’s Assisted Remote Shunting prototype could entail the purchase of ap
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