RA’ANANA, Israel, June 10, 2024 (GLOBE NEWSWIRE) — Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of innovation in rail safety and data-related markets, today announced the successful deployment of its AI-driven ShuntingYard product for a U.S.-based Class 1 freight railroad operator.
North American Class 1 railroads will use the system on their locomotives for evaluation under a range of safety and efficiency scenarios.
The installation follows a purchase order announced in March 2024 and marks another step towards the company’s goal of enhancing safety and efficiency in the U.S. rail industry. The installed system integrates cutting-edge technology designed to provide real-time monitoring and obstacle detection, ensuring the highest standards of safety for rail operations and is built to meet stringent railroad demands, delivering unmatched reliability and performance.
“We are proud to have completed this important order to deliver and install our advanced safety system to one of North America’s Class 1 railroads,” said Shahar Hania, CEO of Rail Vision. “This project is a testament to the important role our technology is playing in a market where safety is of the utmost importance.”
AI-driven ShuntingYard products are designed to leverage artificial intelligence and machine learning algorithms to improve rail safety and operational efficiency.
About Rail Vision Ltd.
Rail Vision is a technology company poised to revolutionize the rail safety and data market. The company has developed cutting-edge, artificial intelligence-based, industry-leading technology designed specifically for rail. The company developed its rail detection system to save lives, increase efficiency, and significantly reduce expenses for rail operators. Rail Vision believes that its technology will significantly improve rail safety around the world while also bringing significant benefits and added value to everyone who relies on the rail ecosystem, from passengers who travel by rail to the businesses that use rail to deliver goods and services. Additionally, the company believes that its technology has the potential to make the revolutionary concept of autonomous trains a 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 “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” or similar expressions or variations of these words are intended to identify forward-looking statements. For example, the Company uses forward-looking statements when describing the important role that its technology aims to play in the marketplace. Forward-looking statements are not historical facts but are based on 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 those expressed or implied in the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may 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, please refer to the Company’s reports filed from time to time with the Securities and Exchange Commission (the “SEC”). These include, but are not limited to, the risks described in the Company’s Annual Report on Form 20-F filed with the SEC on March 28, 2024. Forward-looking statements speak only as of the date on which the statements are made. The Company undertakes no obligation to update any 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 updates one or more forward-looking statements, no inference should be inferred that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites are provided for convenience only, and the information contained in such websites is not incorporated by reference into this press release. Rail Vision is not responsible for the content of third-party websites.
Investor Relations
Michal Efrati
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