(RTTNews) - Foresight Autonomous Holdings Ltd. (FRSX) Tuesday announced that it has signed a commercial cooperation agreement with an Indian drone manufacturer, a key supplier to the Indian Ministry of Defense.
The collaboration will integrate Foresight's advanced 3D perception technology into autonomous drone platforms, with potential revenues projected at $2.5 million by 2026 and up to $16 million by 2029.
The partnership aims to enhance drone performance in challenging conditions, such as dense smoke, low-light environments, and extreme temperatures, enabling real-time spatial positioning and the ability to detect individuals in adverse settings.
Initially focused on the Indian defense sector, the agreement also explores future opportunities for manufacturing, marketing, and distribution, targeting India and potential global markets. This collaboration highlights Foresight's commitment to revolutionizing autonomous drone technology while addressing critical defense needs.
FRSX closed Tuesday's trading at $1.28 down 5.88 percent or $0.08 on the Nasdaq.
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