Rail Vision inks preliminary deal to expand in North America By Investing.com

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Rail Vision inks preliminary deal to expand in North America

Published Mar 18, 2024 09:58AM ET

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Rail Vision inks preliminary deal to expand in North America

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RA'ANANA, Israel - Rail Vision Ltd. (NASDAQ:RVSN), an innovator in railway safety technology, announced today a preliminary agreement with a leading U.S.-based railway technologies company. The memorandum of understanding outlines the distribution of Rail Vision's MainLine and Switch (NYSE:SWCH) Yard systems throughout North America.

This strategic move aims to leverage the distributor's expertise in engineering and technology solutions for the rail industry, covering both passenger and freight markets. The definitive agreements, once finalized, will enable the distributor to market Rail Vision's products across the continent.

Rail Vision's CEO, Shahar Hania, expressed optimism about the partnership, stating, "As we continue to operate in a direct sales channel with industry leaders, class I and top tier players in the railway industry in the U.S., it is important for us to establish a wider network through distributions."

Rail Vision, headquartered in Ra'anana, Israel, specializes in developing AI-based technologies designed to improve railway safety and operational efficiency. The company's systems are intended to save lives, enhance efficiency, and reduce costs for railway operators. Rail Vision also aspires to advance the concept of autonomous trains.

The company's optimism about expanding its North American presence is part of its broader objectives outlined in the agreement. This development is based on a press release statement from Rail Vision Ltd.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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