Benzinga | Aug 16, 2021 01:38PM EDT

Foresight Enters Autonomous Drone Market With Proof Of Concept Project

* Foresight Autonomous Holdings Ltd (NASDAQ:FRSX) has announced Wonder Robotics Ltd will evaluate the stereoscopic abilities of its autonomous drone technology. The financial terms of the deal partnership were not disclosed.

* Wonder Robotics has started a proof of concept (POC) project and the evaluation of Foresight's QuadSight vision system.

* Wonder Robotics will test Foresight's thermal stereoscopic detection abilities in vertical take-off and landing (VTOL) drones to improve their autonomous flight, navigation, and landing capabilities.

* Wonder Robotics will use Foresight's automatic calibration solution to assure that the stereo cameras remain calibrated despite vibrations.

* Upon successfully completing the project, the parties will consider integrating Foresight's technology into Wonder Robotics products.

* Price Action: FRSX shares are trading lower by 3.61% at $3.20 on the last check Monday.