For example, Foresight is using forward-looking statements in this press release when it discusses the prospective stages of the collaboration, the potential successful completion of the development phase that may lead to manufacturing, marketing, and distributing the product to StreamRail’s customers and other third parties, the projected revenue streams and expected initial commercialization upon potential completion, StreamRail’s potential exclusive distribution rights for the technology in China if it were to achieve sales of at least $1.5 million in 2026 and 2027, the belief that this collaboration emphasizes StreamRail’s focus on improving safety and connectivity, the belief that this strategic cooperation marks a leap from first-generation 2D to second-generation 3D technology in the train safety systems, the belief that this collaboration may deliver greater value to global customers and passengers, the expectation that this collaboration may lead to developing third- and fourth-generation safety perception and control systems, the forecast of the market size of obstacle detection systems by 2032, its belief that this collaboration represents a major step forward in its mission to bring advanced 3D perception to the urban transportation sector, and the belief that this collaboration is accelerating the delivery of a transformative solution to the cities and operators.
The agreement with StreamRail, a Chinese leader in rail transit technologies, aims to enhance safety and operational efficiency for urban rail transit systems Ness Ziona, Israel, May 19, 2025 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd.(Nasdaq and TASE: FRSX) ("Foresight” or the "Company”), an innovator in three-dimensional ("3D”) perception systems, announced today the signing of a development and commercialization agreement with Zhejiang StreamRail Intelligent Control Technology Co., Ltd., ("StreamRail”), a global Chinese rail technology company, to integrate and commercialize its products for StreamRail’s customers, focusing on urban trams and metro trains.
As a leader in intelligent control systems and artificial intelligence applications in the railway industry, StreamRail has delivered intelligent train systems to rail transit networks in more than 30 cities around the globe, including Shanghai, Shenzhen, Guangzhou, Tianjin, Melbourne, Hong Kong SAR, etc., helping to improve the safety, reliability, maintainability and operational efficiency in the global rail market.
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