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Rail Vision Advances Strategic Collaboration with Israel Railways Cargo Division
Globenewswire· 2026-02-06 13:32
Core Viewpoint - Rail Vision Ltd. is advancing its collaboration with Israel Railways by deploying its ShuntingYard product, aiming to enhance railway safety and operational efficiency [1][4]. Group 1: Collaboration and Product Development - Israel Railways has successfully installed Rail Vision's MainLine systems on its locomotives, marking a significant step in the evaluation of the ShuntingYard product for potential adoption [2][4]. - The ShuntingYard product is designed for the unique stop-and-go dynamics of rail yards, utilizing electro-optical sensors and real-time AI to improve situational awareness for locomotive drivers [3][5]. Group 2: Pilot Evaluation - Rail Vision and Israel Railways have agreed to conduct a one-month evaluation pilot of the ShuntingYard system, following a successful initial demonstration [4]. - The pilot aims to familiarize the cargo team with the system's performance under local conditions and gather operational feedback [4]. Group 3: Industry Impact and Future Plans - The collaboration is expected to positively impact railway safety in Israel and globally, as stated by the acting CEO of Israel Railways [5]. - Following the pilot, Rail Vision and Israel Railways plan to explore deployment options that could enhance safety, operational efficiency, and reduce maintenance costs [5]. Group 4: Company Overview - Rail Vision is a development stage technology company focused on revolutionizing railway safety and the data-related market through advanced AI technology [6]. - The company's solutions aim to save lives, increase efficiency, and reduce costs for railway operators, with the potential to advance autonomous train technology [6].
Rail Vision Successfully Completes Strategic Acquisition of Majority Stake in Cutting-Edge Quantum Computing Company for Transportation
Globenewswire· 2026-01-14 12:55
Core Viewpoint - Rail Vision Ltd. has completed the acquisition of a 51% ownership interest in Quantum Transportation Ltd., aiming to enhance railway safety and data-related technologies through innovative quantum error correction methods [1][4][3]. Group 1: Acquisition Details - Rail Vision acquired 51% of Quantum Transportation's issued and outstanding share capital, gaining majority ownership and control [4]. - The acquisition involved the issuance of 2,982,710 ordinary shares, representing approximately 4.99% of Rail Vision's total share capital, to former shareholders of Quantum Transportation [5]. - A convertible loan facility of up to $700,000 was extended to Quantum Transportation, with an annual interest rate of 8%, to support its operations and development [6]. Group 2: Technological Synergies - Quantum Transportation holds an exclusive sub-license for rail technologies related to a pending patent application in quantum error correction, which addresses challenges in quantum devices [2]. - The strategic combination of Rail Vision's advanced vision and railway safety technologies with Quantum Transportation's quantum-AI based IP is expected to create significant technological synergies and enhance product lines [3]. - The collaboration aims to accelerate innovation and support long-term value creation for stakeholders in the railway ecosystem [3]. Group 3: Company Overview - Rail Vision is a development stage technology company focused on revolutionizing railway safety and the data-related market through AI-based technologies [7]. - The company aims to improve railway safety, efficiency, and reduce operational costs for railway operators, with potential advancements towards autonomous trains [7].
Rail Vision Advances Indian Market Entry with Demonstration for Senior Governmental Officials from Multiple Government Departments
Globenewswire· 2026-01-06 12:32
Core Insights - Rail Vision Ltd. is expanding its activities in India, having commenced a Proof of Concept (POC) for key stakeholders in the Indian Railway industry [1][2][6] - The Indian Railways is one of the largest networks globally, with a route length of 69,181 km and carrying 6.905 billion passengers annually in the 2023-24 fiscal year, generating revenues of approximately US$28.4 billion [3] - The POC aims to demonstrate Rail Vision's Mainline product capabilities under challenging local conditions, which is crucial for potential large-scale adoption [2][6] Company Overview - Rail Vision is a development stage technology company focused on revolutionizing railway safety and the data-related market through advanced artificial intelligence technology [7] - The company has developed systems designed to enhance safety, increase efficiency, and reduce costs for railway operators, with aspirations to advance autonomous train technology [7] Market Opportunity - The Indian market presents a significant growth opportunity for Rail Vision, supported by collaboration with local partner Sujan Industries and increasing stakeholder engagement [6][7] - The Indian Railways operates a fleet of over 17,000 locomotives, with a notable shift towards full electrification, indicating a progressive environment for technological advancements [4]
Rail Vision's Advanced Railway Safety Technology to Be Showcased at CES 2026 by Israel Railways
Globenewswire· 2026-01-02 12:39
Core Insights - Rail Vision Ltd. is an early commercialization stage technology company focused on revolutionizing railway safety and the data-related market, with its products to be showcased at CES 2026 through Israel Railways [1][4] Group 1: Company Overview - Rail Vision has developed AI-driven technologies aimed at enhancing railway safety, operational efficiency, and reducing costs for railway operators [4] - The company believes its technology can significantly improve railway safety globally and create value for all stakeholders in the train ecosystem, including passengers and freight companies [4] Group 2: Collaboration and Event Participation - Israel Railways, a long-term client of Rail Vision, will present Rail Vision's technologies at the Israel National Pavilion during CES 2026, highlighting their real-world applications [2][3] - David BenDavid, CEO of Rail Vision, will be present at the event to discuss the company's technologies and explore potential partnerships [3][4] Group 3: Technology Impact - Rail Vision's systems are currently in use by Israel Railways to detect obstacles, enhance safety, and improve operational efficiency on main lines [3] - The company aims to advance the concept of autonomous trains into practical reality through its innovative technologies [4]
Rail Vision Enters the Quantum Transportation Market with Strategic Acquisition Agreement
Globenewswire· 2025-12-01 13:19
Core Viewpoint - Rail Vision Ltd. is acquiring 51% ownership of Quantum Transportation Ltd., a quantum computing and AI company, to enhance railway safety and data-related technologies, with the acquisition expected to close between late December 2025 and early January 2026 [1][3]. Group 1: Acquisition Details - The acquisition involves Rail Vision obtaining 51% ownership of Quantum Transportation, which specializes in error correction technologies in quantum computing [1][2]. - Rail Vision will issue ordinary shares representing approximately 4.99% of its issued and outstanding share capital to certain Quantum Transportation shareholders in exchange for their full holdings [4]. - A convertible loan of up to $700,000 will be extended to Quantum Transportation at an 8% annual interest rate to support its operations and development for the next 18 months [5]. Group 2: Technology and Innovation - Quantum Transportation holds an exclusive sub-license for a pending patent application in quantum error correction, which addresses challenges in noisy intermediate-scale quantum devices [2][6]. - The technology developed by Quantum Transportation is expected to enable efficient, real-time decoding of surface code errors, significantly reducing computational overhead compared to traditional methods [2][6]. - Rail Vision aims to leverage this technology for applications in anomaly detection, predictive maintenance, and autonomous rail operations, tapping into the growing quantum computing market [7]. Group 3: Strategic Goals - The strategic combination of Rail Vision's railway safety technologies with Quantum Transportation's quantum-AI based IP is anticipated to create technological synergies and enhance product lines [3]. - This acquisition is expected to accelerate innovation and support long-term value creation for stakeholders [3]. - Rail Vision believes that its technology can significantly improve railway safety and efficiency, potentially advancing the concept of autonomous trains [8].
Rail Vision Granted 180-Day Extension by Nasdaq to Regain Compliance with Minimum Bid Requirement
Globenewswire· 2025-09-03 20:15
Core Viewpoint - Rail Vision Ltd. has been granted an additional 180-day compliance period by Nasdaq to regain compliance with the minimum bid price rule, extending the deadline to March 2, 2026 [1][2][3] Company Compliance Status - The company was initially notified on March 6, 2025, that its shares did not meet the minimum bid price of $1.00 for 30 consecutive business days, leading to a 180-day compliance period until September 2, 2025 [3] - After failing to regain compliance during the first period, the company requested and received an additional 180-day compliance period [3][5] Compliance Requirements - To regain compliance, the company's ordinary shares must close at or above $1.00 for at least 10 consecutive business days before March 2, 2026 [4] - Nasdaq may require the company to maintain the bid price for a longer period, generally not exceeding 20 consecutive business days [4] Trading Status - The current notification from Nasdaq does not affect the listing or trading of the company's shares, which will continue to trade under the symbol "RVSN" [5] Company Overview - Rail Vision is a technology company focused on enhancing railway safety and efficiency through artificial intelligence [6] - The company aims to revolutionize the railway industry by developing systems that save lives, increase operational efficiency, and reduce costs for railway operators [6] - Rail Vision's technology is positioned to advance the concept of autonomous trains into practical applications [6]
Rail Vision Announces First Half 2025 Financial Results
Globenewswire· 2025-08-22 20:15
Core Viewpoint - Rail Vision Ltd. is positioned to expand its market reach and enhance railway safety through innovative technology, despite facing a significant decrease in revenue in the first half of 2025 compared to the previous year [2][6]. Financial Performance - Rail Vision reported revenues of $237,000 for the six months ended June 30, 2025, a decrease of $524,000 or 69% from $761,000 in the same period of 2024, primarily due to the timing of revenue recognition [6][11]. - The company's operating loss for the first half of 2025 was $5,705,000, compared to an operating loss of $4,185,000 for the same period in 2024 [7][17]. - GAAP net loss for the six months ended June 30, 2025, was $5,679,000 or $0.11 per share, significantly improved from a net loss of $24,324,000 or $1.99 per share in the same period of 2024 [8][11]. - Non-GAAP net loss for the same period was $4,869,000 or $0.10 per share, compared to a non-GAAP net loss of $5,394,000 or $0.44 per share in 2024 [11][25]. Cash Position - As of June 30, 2025, Rail Vision had cash and cash equivalents of $22.4 million, an increase from $17.2 million as of December 31, 2024, primarily due to proceeds from share issuances totaling $9.8 million [3][9]. Commercial Developments - Rail Vision received a purchase order from a Central American freight operator for its MainLine system, marking its initial penetration in Central America [6]. - The company secured a follow-on order worth $335,000 from a leading Latin American mining company, following a successful trial of the MainLine system [6]. - Rail Vision signed a binding Memorandum of Understanding with Sujan Ventures to introduce its safety systems to the Indian market, reflecting its intent to enter a significant rail market [6]. Research and Development - Research and development expenses for the first half of 2025 were $3,241,000, an increase from $2,458,000 in the same period of 2024, attributed to higher salaries and increased R&D activities [6][11]. General and Administrative Expenses - General and administrative expenses rose to $2,512,000 for the first half of 2025, compared to $2,116,000 in the same period of 2024, driven by salary adjustments and one-time bonuses [6][11]. Overall Strategy - The company aims to leverage its strong technological foundation and solid cash position to expand its market reach while continuing to innovate in the railway safety sector [2][12].
Rail Vision Appoints David BenDavid as Chief Executive Officer Following Leadership Transition
Newsfilter· 2025-04-24 13:00
Core Insights - Rail Vision Ltd. has announced a leadership transition with Mr. Shahar Hania stepping down as CEO to pursue new opportunities, effective April 24, 2025, while remaining on the Board of Directors [1][2] - Mr. David BenDavid has been appointed as the new CEO, bringing extensive experience in technology and leadership, having previously served as Rail Vision's CTO [2][3] Company Overview - Rail Vision is a development stage technology company focused on revolutionizing railway safety and the data-related market through advanced artificial intelligence technology [5] - The company's technology aims to enhance railway safety, increase operational efficiency, and reduce costs for railway operators, with potential applications in autonomous train systems [5]
Rail Vision Announces Participation in the LD Micro Invitational XV
Newsfilter· 2025-04-07 13:00
Company Overview - Rail Vision Ltd. is a development stage technology company focused on revolutionizing railway safety and the data-related market through advanced artificial intelligence technology [3] - The company's technology aims to enhance railway safety, increase operational efficiency, and significantly reduce costs for railway operators [3] - Rail Vision believes its innovations could facilitate the practical implementation of autonomous trains, benefiting passengers and companies reliant on rail transport [3] Upcoming Events - Rail Vision will participate in the 15th Annual LD Micro Invitational investor conference in New York on April 9-10, 2025 [1] - CEO Shahar Hania is scheduled to present to investors on April 10 at 10:00 AM ET and will be available for one-on-one meetings throughout the day [2]
Rail Vision Announces Second Half and Full Year 2024 Financial Results: Reports Strong Revenue Growth for the Full Year 2024, Driven by Key Orders and Market Expansion
Globenewswire· 2025-03-31 20:15
Core Insights - Rail Vision Ltd. reported significant revenue growth of 815% for the year ended December 31, 2024, reaching $1.3 million compared to $142,000 in 2023, driven by installations for a leading global mining company and other key orders [6][8][24] - The company secured over $34 million in funding during 2024, enhancing its market presence in the U.S. and expanding its product offerings beyond hardware to a complete railway safety and analytics ecosystem [2][12] - Rail Vision achieved several milestones, including the first-ever national rail installation of its AI-based technology with Israel Railways and entry into the Indian market through a non-binding MOU [7][12] Financial Performance - For the year ended December 31, 2024, the operating loss decreased to $9 million from $11.4 million in 2023, reflecting improved operational efficiency [11][24] - GAAP net loss for the year was $30.7 million, or $1.85 per ordinary share, compared to a net loss of $11.1 million, or $4.30 per share in 2023 [11][24] - Non-GAAP net loss for the year was $10.1 million, or $0.61 per ordinary share, compared to a non-GAAP net loss of $10.9 million, or $4.20 per share in 2023 [11][24] Operational Highlights - The company completed multiple installations in 2024, including with a Class 1 U.S. freight operator and a leading Latin American mining company [7][8] - Rail Vision launched an Active Control System for semi-autonomous train operation and introduced a proprietary SaaS platform, D.A.S.H., for real-time operational insights [7][12] - The company gained regulatory approval for its MainLine System from Israel Railways, unlocking a $300,000 milestone payment [7] Cash Position and Financing - As of December 31, 2024, cash and cash equivalents increased to $17.5 million from $3.3 million in 2023, primarily due to proceeds from a private placement and credit facility [9][12] - The company established an equity line facility allowing it to sell up to $30 million of its ordinary shares over a 36-month period, with gross proceeds of approximately $18.3 million from shares issued [12][9] Research and Development - Research and development expenses decreased to $5.3 million for the year ended December 31, 2024, from $7.1 million in 2023, mainly due to a reduction in workforce [11][24] - General and administrative expenses slightly decreased to $4.2 million in 2024 from $4.3 million in 2023, reflecting cost-cutting measures [11][24]