Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX), an innovator in 3D perception systems, announced today that it entered into a development and commercialization agreement of its 3D perception systems with leading Japanese manufacturer of smart city, road traffic, hazard management and traffic monitoring solutions. The agreement was signed together with the Company's Japanese distributor, Cornes Technologies Limited. The development phase is underway and is expected to be completed during the second quarter of 2027, generating initial revenues of approximately $250,000.
Following completion of the development phase, initial product sales are expected in late 2027, growing to a conservative potential revenue of $3.6 million by 2030.
As reported by the Company early last year, Foresight and the Japanese Manufacturer established a framework for future project collaborations and commercialization.
The current project includes dual stereoscopic camera systems, combining visible-light and thermal infrared cameras on service or patrol vehicles to monitor road lanes and provide real-time hazard alerts when vehicles enter restricted areas or lanes, even in harsh weather or low-visibility conditions. This project uses artificial intelligence (AI) to automatically segment restricted areas by detecting and tracking boundaries and road contours as the vehicle moves, offering real-time, accurate awareness and warning to protect workers and drivers.
FRSX shares let go of 11 cents, or 3.8%, to $2.82.
