This achievement aims to support Israel Railways future volume procurement

The approval also triggers an immediate $300,000 payment

Ra'anana, Israel, Dec.  27, 2024  (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the "Company"), a technology company at the forefront of revolutionizing railway safety and the data-related market, today announced the achievement of a critical project and regulatory milestone: certification approval for the installation of its MainLine Systems on Israel Railways' passenger locomotives. The certification triggers milestone payment of approximately $300,000 to the Company, marking significant progress with Israel Railways and paving the way for potential future volume procurement.

"Achieving certification is a testament to Rail Vision's dedication to excellence and our commitment to meeting industry compliance requirements," said Shahar Hania, CEO of Rail Vision. "We have met the strict certification standard, which aims to enable Israel Railways' future plans of high-volume procurement of Rail Vision products and services."

Rail Vision's certified MainLine systems enhances driver awareness by utilizing advanced obstacle detection and classification technology. Specifically engineered for main line operations, the system delivers real-time, actionable data to operators, helping to mitigate risks, prevent potential collisions and maintain smooth operational flow on busy rail networks.

About Rail Vision Ltd.

Rail Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed cutting-edge, artificial intelligence-based, industry-leading technology specifically designed for railways. The Company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality.