Rail Vision Ltd. (the “Company”), a technology company that is seeking to revolutionize railway safety and the data-related market, announced today that Israel Railways Ltd., Israel’s state-owned principal railway company, signed an agreement to purchase 10 Rail Vision Main Line Systems and related services for $1.4 million. Rail Vision’s Main Line System is a cutting-edge, artificial intelligence (A.I.) based, industry-leading technology for detection and identification of objects and obstacles near, between, or on the railway.
“After more than a year of evaluating a variety of advanced driver assistance systems (ADAS), Israel Railways chose Rail Vision’s Main Line System as the solution for its fleet, marking the first major commercial deployment of AI-based vision technology for main line rail industry operations,” commented Rail Vision CEO Shahar Hania. “Our Main Line System outperformed in all aspects of testing during the proof-of-concept with Israel Railways. We believe this is a strong validation of our solution and bodes extremely well for other pilot programs underway, such as our long-term pilot in Australia with Rio Tinto, a leading global mining group, as well as other opportunities around the globe.
“Using advanced, long-range A.I. detection systems, our game-changing technology provides unparalleled obstacle identification on and near tracks, making it an ideal solution for major rail operators like Israel Railways, and a key driver behind strategic partnerships, such as our relationship with Knorr-Bremse, the global leader in braking systems for the rail industry that has invested $24 million into Rail Vision since our inception,” continued Hania.
Israel Railways operates approximately 700 trains daily, traveling along 1,138 kilometers of track, connecting major metropolitan areas in Israel, as well as cities, towns, and rural villages throughout the country.
“We currently have few main line and switch yard pilot programs underway globally,” continued Hania. “The conversion of pilot programs into commercial contracts is expected to accelerate and drive sales growth momentum in the quarters ahead.”
