Rail Vision Ltd. has signed a supply contract with a leading US-based rail and leasing services company valued at up to $5 million for the purchase of Rail Vision?s artificial intelligence (AI)-based Switch Yard Systems. Foresight owns 10.2% of Rail Vision?s outstanding share capital. Rail Vision?s unique Switch Yard System enables railway operators to streamline and enhance the safety of their industrial switching operations. Combining advanced vision sensors with AI and deep learning technologies, the system automatically detects and classifies objects within a range of up to 200 meters, in various weather and light conditions.

With its one-of-a-kind Pathfinder technology, the Switch Yard System can detect switch states to support the execution of coupling from a remote position. In addition, it enables the monitoring of operational dead zones to facilitate secure wagon coupling and sends real-time visual and acoustic alerts to remote operators and drivers, ensuring a safe and secure environment. The first phase of the contract is valued at $1 million.

Follow-on orders for additional Switch Yard Systems, valued at up to $4 million, are subject to customer approval. The contract also includes specific purchase quotas that, if met, provide the customer with exclusivity in the North American industrial railyards switching segment.