Foresight Articles

FLIR Systems (FLIR) is the world's largest commercial company specializing in the design and production of thermal imaging cameras, components and imaging sensors. FLIR makes thermal cameras and components for a wide variety of commercial and government applications, and now they are venturing into the arena of autonomous vehicles. On April 1st, 2020, Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) announced its agreement with FLIR. Together, the companies will collaborate to establish a strategic plan to develop, market and distribute Foresight’s QuadSight®️ vision system, combined with FLIR’s infrared cameras, to a wide range of prospective customers. This is a milestone announcement and agreement for both companies but we will focus more on the benefit to $23M mkt cap Foresight given FLIR is a multi-billion dollar company. Obviously, Foresight getting validation from FLIR for their technology in the form of this agreement is seemingly value additive to Foresight. In addition, having access to FLIR’s customers across the globe is also seemingly value additive for Foresight. This agreement may also enable Foresight to utilize FLIR as a reference to other multi-billion dollar companies across the globe. 

As part of this agreement, Foresight will exclusively purchase its thermal cameras from FLIR for all its worldwide commercialized systems. Additionally, Foresight will participate in the “Thermal bu FLIR” program. This is a cooperative product development, marketing and product supply program that supports original manufacturers (OEMs) and product innovators who use FLIR thermal imaging sensors. Finally, Foresight will include the FLIR brand on their products. With this agreement, Foresight joins the ranks of several multinational companies, including Panasonic, Bullitt Group and Blackview, who have partnered with FLIR in its “Thermal by FLIR” program. Being included in this group of companies is seemingly encouraging given the size of these companies. 

Haim Siboni, CEO of Foresight, stated, “This collaboration agreement will offer us the ability to work directly with OEMs and open new opportunities for our technology…..This will serve to advance the QuadSight system around the world.” 

Foresight Autonomous Holdings Ltd. is a technology based company engaged in the design, development, and commercialization of sensor systems for the automotive industry. Foresight’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Targeting the semi-autonomous and autonomous vehicle markets, the company predicts that its systems will revolutionize automotive safety. 

For more information about Foresight, please visit www.foresightauto.com