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DGAP-News: Knorr-Bremse Aktiengesellschaft
/ Key word(s): Investment
Knorr-Bremse expands its stake in Rail Vision: Capital increase in start-up for obstacle detection and classification - Knorr-Bremse acquires an additional 19.8% of Israeli start-up Rail Vision, giving it a 36.8% stake in the company's share capital - Strategic follow-on investment forms basis for continued partnership in the development and integration of electro-optic sensor systems including object detection and classification for rail vehicles
"We are delighted to further strengthen and expand our strategic commitment to Rail Vision," says Dr. Nicolas Lange, Chairman of the Management Board of Knorr-Bremse Rail Vehicle Systems. "The systems developed by Rail Vision hold great potential for numerous new applications as train operation becomes progressively more automated in the future. For us as a global technology leader, this makes the young company an exciting and highly attractive partner in designing mobility and transport solutions for rail." "Having Knorr-Bremse as partner gives us the opportunity not only to think big but to further develop our systems and execute our projects on a bigger worldwide scale", says Sam Donnerstein, executive chairman of Rail Vision. By paying USD 10 million, Knorr-Bremse has acquired an additional 19.8% of Rail Vision and now holds 36.8% of its share capital. However, Knorr-Bremse and Rail Vision have been partners in the development of object and obstacle detection systems for rail vehicles since March 2019. At that time, Knorr-Bremse , thereby taking another important step towards system solutions for automated rail travel. Recently, Knorr-Bremse and Rail Vision announced that they will of the Swiss rail operator SBB Cargo with remote-controlled electro-optic systems for obstacle detection. After prototype testing is successfully completed at the end of the first quarter of 2021, the partners will examine further business opportunities for integrating these systems into rail freight vehicles. Caption: Knorr-Bremse (ISIN: DE000KBX1006, Ticker symbol: KBX) is the global market leader for braking systems and a leading supplier of other rail and commercial vehicle systems. Knorr-Bremse's products make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. About 29,000 employees at over 100 sites in more than 30 countries use their competence and motivation to satisfy customers worldwide with products and services. In 2019, Knorr-Bremse's two divisions together generated revenues of EUR 6.9 billion (IFRS). For more than 115 years the company has been the industry innovator, driving innovation in mobility and transportation technologies with an edge in connected system solutions. Knorr-Bremse is one of Germany's most successful industrial companies and profits from the key global megatrends: urbanization, sustainability, digitization and mobility. Rail Vision is an Israeli startup founded in 2016 designing, developing and manufacturing state-of-the-art cognitive vision sensor systems to improve safety, maintenance and big data services for the train industry, using advanced electro-optic sensors, artificial intelligence and deep learning technology. Its unique systems enable every train to detect and classify objects on and along the tracks from up to 2 kilometers in real time in all weather and light conditions. The tailor-made systems are available for Main Lines, Shunting Yards, and Light Rail Vehicles (LRVs) operating in urban environments. In addition, Rail Vision offers a range of optional complementary features based on collected and analyzed data: Image-based Navigation, GIS Mapping and Predictive Maintenance. Contact Knorr-Bremse: Alexandra Bufe Knorr-Bremse AG Yaron Isovich Rail Vision
26.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Knorr-Bremse Aktiengesellschaft |
| Moosacher Str. 80 | |
| 80809 Munich | |
| Germany | |
| Phone: | |
| E-mail: | |
| Internet: | -bremse.com |
| ISIN: | DE000KBX1006 |
| WKN: | KBX100 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Third Market (MTF)) |
| EQS News ID: | 1143016 |
| End of News | DGAP News Service |
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1143016 26.10.2020
