Thread by @Folken911

Part 3 $FRSX $FRSX April 2020 announced that its affiliate, Rail Vision Ltd. received its first commercial order from a leading European train operator for a total value of approximately 500k€ (445M$) The European train operator may also choose to exercise its option 👇

to purchase an additional 30 shunting yard systems for an additional 2.5 million € (2.22M$) or 45 shunting yard systems for a total value of 3.5 million€ (3.2M$) .

Two big thinks in May for Foresight :
- The sale of its QuadSight to a multi-billion dollar European Tier One supplier of subsystems for rail/commercial vehicles & trucks.
- Joined the All Weather Autonomous Real logistics operations and Demonstrations (AWARD) consortium.
👇

The AWARD consortium submitted an application to the European Commission (Horizon 2020) to win funding for a large-scale project aimed at bringing disruptive change to the trucking industry, fleet operators, and the entire logistics sector.

The total amount of the grant is expected to total 20 million € (17.8M$), of which Foresight is expected to receive approximately 1 million USD. Upon grant award, the project will be rolled out in 2021 for a period of 3 years
marketwatch.com/press-release/…
ec.europa.eu/inea/en/news-e…

AWARD consortium is looking to develop and demonstrate autonomous heavy-duty vehicles in harsh weathers conditions for real-logistics operations. EasyMile will provide its state-of-the art autonomous driving technology, working with heavy duty vehicle manufacturers, tier 1 and 👇

tier 2 technology providers, end-users and logistics operators from factories, warehouse, ports and airports, as well as labs and regulation entities.
There is some big names in the consortium !
easymile.com/easymile-leads…

3 days ago Elbit system ordered two new products development and customization with their QuadSight system (they already ordered to Forensight last year)
finance.yahoo.com/news/foresight…

A new hire days ago (but none see how big this is), Foresight announced Alain Charlois as Vice President of Strategic Partnerships, effective July 1st, 2020. Mr. Charlois will be responsible for developing new business opportunities and identifying potential strategic partners 👇

in the Advanced Driver Assistance Systems (ADAS) and autonomous driving markets in North America and Europe.
It was in ZF group, a big supply Tier one for manufacturers during 7 years (as VPPP at the end)👇

He was also during 5 years at Fallbrook Technologies :
"Fallbrook’s proprietary NuVinci technology is an award winning traction-based CVT applicable to mechanical devices that have a transmission or can benefit from speed or torque variation."
fallbrooktech.com

Almost 2 years he was in the board member at Phantom intelligence :
"Phantom Intelligence proprietary LiDAR signal processing technologies are at the core of a low cost “fully digital” LiDAR sensor suitable for ADAS mass production volumes."

During 4+ years, it was at CVTCORP company "CVTCORP develops and manufactures mechanical continuously variable transmissions (CVTs) for high- power heavy duty applications.👀
cvtcorp.com/en/technology

Finally prior to be in Forensight, he did 1 year in a company called Intvo.
Let me show you what they do, you will recognize some similarities with FRSX😀...
intvo.com

As of financial
Before they made the offering in June, between Q4 2019 & Q1 2020, they burn ~3M$ (10M$/to ~7M$)
At the end of the Q1, cash & short-term deposits totaled $6.8 million as of March 31, 2020
So with the recent offering (6.5M$) = ~13M$
finance.yahoo.com/quote/FRSX/fin…

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