Rail Vision has secured an order to deliver two samples of its light rail vehicle (LRV) system to Knorr-Bremse Systeme für Schienenfahrzeuge.
As agreed, Rail Vision will also customise its LRV system to meet the stated requirements of the Knorr-Bremse affiliate.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company expects to earn €400,000 in revenues from this order.
Rail Vision’s system for the LRV segment utilises electro-optic sensor technology, as well as artificial intelligence and deep learning capabilities to identify and classify obstacles on the line.
According to the company, the system is capable of operating in all weather and lighting conditions.
Notably, the order comes around two months after Rail Vision secured a $10m funding from Knorr-Bremse Systeme für Schienenfahrzeuge. This marked Knorr-Bremse’s second investment in the company.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataKnorr-Bremse currently owns a total of 36.79% of Rail Vision’s outstanding share capital while Foresight Autonomous Holdings’ ownership stands at 19.36%.
Commenting on the new order, Foresight CEO Haim Siboni said: “Knorr-Bremse continues to show its vote of confidence in Rail Vision’s unique technology, as this project follows Knorr-Bremse’s previous investments in the company.
“Rail Vision has developed a solution to address the challenges of the growing LRV market, and we believe that this commercial cooperation suggests that there may be potential for long-term growth for Rail Vision’s business.”
In September, Rail Vision and Knorr-Bremse entered a collaboration to test a remote shunting system on several SBB Cargo’s shunting locomotives. The prototype testing is slated to complete at the end of the first quarter of 2021.
