NetworkNewsBreaks – Foresight Autonomous Holding

NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Announces Rail Vision’s Entry into Strategic Commercial Agreement

Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced that its affiliate, Rail Vision Ltd., has signed a commercial agreement with an affiliate of Knorr-Bremse AG (Frankfurt: KBX), a $17 billion European-based group, to supply Rail Vision’s Assisted Remote Shunting (“ARS”) systems to a leading European train operator. Foresight owns approx. 24% of Rail Vision’s outstanding share capital. As previously announced, Rail Vision received an initial order from the European train operator for an ARS prototype system to be installed on locomotives in switchyards and to execute an Operational Functional Test (“OFT”) for a total value of approximately 500,000 Euro. Rail Vision intends delivery of the prototype system in October 2020 and, following delivery of a fully functional prototype system and upon terms set forth in the agreement, the European train operator may place an order for 30 Rail Vision’s ARS systems, a total value of up to 2.8 million Euro. In addition, the European train operator may exercise its option to purchase an additional 45 ARS systems for a total value of approximately 3.5 million Euro.

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