NEWS
Foresight Signs Multi-Phase Collaboration Agreement with BuilderX
Following successful POC project completion, the parties will develop and commercialize AI tele-operations solutions for heavy machinery to improve safety in hazardous industrial environments.
Ness Ziona, Israel, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) ("Foresight" or the "Company"), an innovator in automotive vision systems, announced today the signing of multi-phase collaboration agreement with BuilderX Inc. ("BuilderX"), a Chinese developer of artificial intelligence (AI) tele-operations equipment for heavy machinery, designed primarily for operation in hazardous industrial and mining environments. BuilderX's products enable real-time remote operation and monitoring of heavy machinery through remote controlled consoles, utilizing multiple cameras mounted on the heavy machinery.
The collaboration agreement follows the successful completion of a proof-of concept (POC) project reported by the Company on July 10, 2024. The project aimed to address key challenges in diverse industrial operations, including the presence of hazardous chemicals and gases that can be toxic, severe dust conditions that pose significant health risks to human operators, and poor visibility conditions caused by intensive dust, glare, or insufficient lighting that can impair operator vision and increase the risk of accidents. BuilderX presented Foresight's technology to its customers, receiving positive feedback regarding its potential for integration into industrial and heavy machinery applications.
The parties will cooperate to develop and commercialize advanced 3D perception solutions for construction machinery and equipment, based on Foresight's stereoscopic technology, using mainly visible-light cameras, to be integrated into BuilderX remote-controlled consoles. In the longer term, the parties will collaborate to integrate Foresight's perception capabilities, utilizing both visible-light and thermal cameras, into BuilderX's autonomous heavy machinery equipment. This integration is expected to potentially enhance full autonomous driving capabilities in harsh industrial environmental conditions.
Ness Ziona, Israel, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) ("Foresight" or the "Company"), an innovator in automotive vision systems, announced today the signing of multi-phase collaboration agreement with BuilderX Inc. ("BuilderX"), a Chinese developer of artificial intelligence (AI) tele-operations equipment for heavy machinery, designed primarily for operation in hazardous industrial and mining environments. BuilderX's products enable real-time remote operation and monitoring of heavy machinery through remote controlled consoles, utilizing multiple cameras mounted on the heavy machinery.
The collaboration agreement follows the successful completion of a proof-of concept (POC) project reported by the Company on July 10, 2024. The project aimed to address key challenges in diverse industrial operations, including the presence of hazardous chemicals and gases that can be toxic, severe dust conditions that pose significant health risks to human operators, and poor visibility conditions caused by intensive dust, glare, or insufficient lighting that can impair operator vision and increase the risk of accidents. BuilderX presented Foresight's technology to its customers, receiving positive feedback regarding its potential for integration into industrial and heavy machinery applications.
The parties will cooperate to develop and commercialize advanced 3D perception solutions for construction machinery and equipment, based on Foresight's stereoscopic technology, using mainly visible-light cameras, to be integrated into BuilderX remote-controlled consoles. In the longer term, the parties will collaborate to integrate Foresight's perception capabilities, utilizing both visible-light and thermal cameras, into BuilderX's autonomous heavy machinery equipment. This integration is expected to potentially enhance full autonomous driving capabilities in harsh industrial environmental conditions.
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