Benzinga | Oct 2, 2020 07:31AM EDT

Foresight Subsidiary Eye-Net Mobile Signs Distribution Agreement With Japanese Trading House Cornes Technologies

Cornes Technologies will promote Eye-Net Mobile's cellular-based accident prevention solutions in the Japanese market

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its wholly owned subsidiary, Eye-Net Mobile Ltd., signed a distribution agreement with Cornes Technologies, a leading Japanese trading house founded in 1900. According to the agreement, Cornes Technologies will promote and assist in the integration of the Eye-Net(tm) cellular-based accident prevention solution suite in products and applications of third parties in Japan. Cornes Technologies, a renowned trading company, plays a significant role in establishing and developing commercial links and trade between Japan and the rest of the world.

The distribution agreement with Cornes Technologies was signed following the recently announced pilot projects with leading Japanese multinational companies for possible integration of the Eye-Net Protect solution into advanced dashboard cameras and IoT services. Several additional Japanese companies have expressed interest in Eye-Net Mobile's cellular-based accident prevention solutions.

"The Japanese technology market is very versatile and addresses multiple verticals such as micro-mobility, smart devices, automotive manufacturers, telecommunication companies and smartphone manufacturers, as well as third-party application providers. Characterized by early adopters of new technologies, we believe that the Japanese technology market is a suitable target for Eye-Net Mobile's solution. Moreover, we are confident that Cornes Technologies will utilize its extensive experience and relationships in this market to assist in current engagements and further market penetration," said Dror Elbaz, COO and Deputy CEO of Eye-Net Mobile.

The Eye-Net Protect V2X solution is designed to protect the most vulnerable road users in real time -- including pedestrians, cyclists, scooter drivers and car drivers -- by providing collision alerts when road users have no direct line of sight. An SDK configuration allows Eye-Net Mobile to integrate its solution into leading location-based products such as wearable devices, dashboard cameras, navigation aids, infotainment systems, third-party applications and other smart devices.

For more information about Eye-Net Mobile, please visit www.eyenet-mobile.com, or follow the Company's LinkedIn page, Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.