Foresight signs commercialization agreement with global rail tech provider

Foresight Autonomous (FRSX) announced the signing of a development and commercialization agreement with Zhejiang StreamRail Intelligent Control Technology, a global Chinese rail technology company, to integrate and commercialize its products for StreamRail’s customers, focusing on urban trams and metro trains. The collaboration will initially focus on a joint development project to integrate Foresight’s cutting-edge 3D perception technology into StreamRail’s transit infrastructure. The innovative obstacle detection system will use advanced sensors and artificial intelligence to detect potential hazards on rail tracks and surrounding areas, in order to significantly reduce collision risks. Upon successful completion of the development phase, the parties will proceed with manufacturing, marketing, and distributing the innovative product to StreamRail’s customers and other third parties. The current project’s revenue potential is estimated at up to $12 million by 2029, with initial commercialization expected to begin in 2026. Under the terms of the agreement, StreamRail has secured exclusive distribution rights for the innovative solution in China, contingent upon achieving sales of at least $1.5 million during 2026 and 2027.