Rail Vision Deploys its Groundbreaking AI Safety System in a National Railways Line
March 06 2024 - 9:07AM
Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology
company at the forefront of revolutionizing railway safety and the
data-related market for the railway industry, has announced the
first commercial installation of its AI-driven Main Line Systems in
a national railways line, marking a significant milestone in the
Company's journey towards revolutionizing railway safety and
efficiency.
This commercial installation, which was previously announced on
February 20, 2024, was a result of a successful evaluation process
which led to the purchase of ten Rail Vision Main Line Systems by
Israel Railways. Leveraging advanced artificial intelligence (AI)
algorithms and cognitive vision sensors, Rail Vision's Main Line
Systems offer unparalleled capabilities in real-time threat
detection, predictive maintenance and operational optimization.
Rail Vision's Main Line Systems utilize innovative sensors and
AI algorithms to detect and classify potential threats on railway
tracks, including obstacles and unauthorized intrusions. By
providing early warning alerts and actionable insights to railway
operators, these systems empower decision-makers to proactively
address safety risks and optimize maintenance schedules, thereby
improving operational efficiency and reducing downtime.
The installation of Rail Vision's Main Line Systems in a
national railways line marks a significant validation of the
technology's capabilities and the Company's commitment to
innovation. With this milestone, Rail Vision aims to expand its
footprint in the global railway market and drive further adoption
of AI-driven solutions for enhanced railway safety and
performance.
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. For more information please
visit https://www.railvision.io/
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act and
other securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, the Company is using
forward-looking statements when it discusses its commitment to
innovation and how it aims to expand its footprint in the global
railway market and drive further adoption of AI-driven solutions
for enhanced railway safety and performance. Forward-looking
statements are not historical facts, and are based upon
management’s current expectations, beliefs and projections, many of
which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management’s expectations,
beliefs and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements. For a more detailed description of the
risks and uncertainties affecting the Company, reference is made to
the Company’s reports filed from time to time with the Securities
and Exchange Commission (“SEC”), including, but not limited to, the
risks detailed in the Company’s annual report on Form 20-F filed
with the SEC on March 23, 2023. Forward-looking statements speak
only as of the date the statements are made. The Company assumes no
obligation to update forward-looking statements to reflect actual
results, subsequent events or circumstances, changes in assumptions
or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws. If the
Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release. Rail Vision is not responsible for the contents of
third-party websites.
Investor Relations
Michal Efraty+972-(0)52-3044404michal@efraty.com
Contacts
Shahar HaniaChief Executive OfficerRail Vision Ltd.15 Ha'Tidhar
StRa'anana, 4366517 IsraelTelephone: +972- 9-957-7706
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