Rail Vision Signs MoU With Industrial Railyard Services Provider Railserve To Expand Collaboration

The MOU reflects the parties' mutual interest in expanding their collaboration following Railserve's successful evaluation and deployment of Rail Vision's ShuntingYardperceptionsystems. The parties intend to discuss additional deployments of Rail Vision's systems, new use cases, rail car mover applications, broader rail yard solutions, and other mutually agreed commercial opportunities.

In January 2024, Rail Vision and Railserve entered into a commercialization agreement for the deployment of Rail Vision's AI-based ShuntingYardsystems.The collaboration between the partieshasprogressed Rail Vision'ssystem from an advanced driver assistance system (ADAS) to an active, intervening platform supporting semi-autonomous operations.

"This MOU marks an important step in potentially expanding our collaboration with Railserve," said David BenDavid, CEO of Rail Vision. "We believe our ShuntingYardperception systems can support a broader range of rail yard operations and operational requirements, while creating new opportunities for deployment acrossthe Marmon Rail Group.We also believe there is a strong potential for integrating our technology with rail car movers and other rail yard solutions to enhance safety and operational continuity."

The expansion of the existing collaboration between Rail Vision and Railserve is subject to the execution of an additional binding agreement.