Foresight Autonomous Holdings Ltd. announced an agreement with Elbit Systems Ltd., a leading global defense company, to integrate Foresight’s stereoscopic vision technology into Elbit’s Unmanned Ground Vehicle (UGV) project. The multi-phase deal is valued at up to $4 million and follows a successful proof-of-concept project. Foresight’s share price rose 15% in morning trading.
In the first phase, Foresight will supply its Mono2Stereo™ software-based solution to convert Elbit’s existing mono cameras into 3D stereo-vision systems. In the second phase, Foresight will develop an advanced stereo camera tailored to Elbit’s UGV requirements.
The agreement marks a substantial entry into the defense market for Foresight.