Rail Vision Receives Order from “one of the largest North American freight rail companies”
DENVER, Colo., Mar 11, 2024 (247marketnews.com)- Rail Vision Ltd. (NASDAQ:RVSN) stated, this morning, that it received an order for its AI-driven Switch Yard System from one of the largest North American freight rail companies, which will install and use the system on its locomotive for evaluation and testing different scenarios related to safety.
Rail Vision is trading at $3.17, up $0.34 (+12.01%), on 1,007,070 shares. Its 52-week range is $1.01 to $23.37. We covered its last big run, but repeating that will be very difficult.
“We believe that this new order is a milestone for Rail Vision that signifies the industry’s trust in our solutions to navigate the complexities of rail operations. By leveraging AI and machine learning, we aim to transform the way railways operate, enhance safety, efficiency reliability and preserve business continuity across a railway network. This is another the beginning of our journey in North America to make rail transportation safer and more efficient for everyone ” , commented Rail Vision CEO, Shahar Hania.
Rail Vision’s Switch Yard System uses electro-optic sensors (including thermal and day sensors) combined with AI, machine learning and Advance Driver Assistance System (ADAS) solutions, to overcome limited vision issues that expand the range of sight and decrease downtime, while also increasing punctuality, efficiency, and safety. Rail Vision’s solutions address critical issues within the industry with its innovative AI-based Obstacle Detection System (ODS), which enables rail operators to navigate issues easily and swiftly, including on-track obstacles, accidents, high operational costs, lack of personnel, capacity, maintenance issues, heavy traffic on the tracks, extensive driving distances and harsh weather conditions.
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