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Knorr-Bremse Aktiengesellschaft: ​​​​​​​Knorr-Bremse expands its stake in Rail Vision: Capital increase in start-up for obstacle detection and classification

·5-min read

DGAP-News: Knorr-Bremse Aktiengesellschaft / Key word(s): Investment
26.10.2020 / 11:41
The issuer is solely responsible for the content of this announcement.

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


Munich, Germany/Ra'anana, Israel, October 26, 2020 - Knorr-Bremse, the global market leader for braking and other systems for rail and commercial vehicles, has subscribed a capital increase in the Israeli company Rail Vision. Knorr-Bremse has acquired an additional 19.8% of the shares for USD 10 million. As a result, Knorr-Bremse now holds a 36.8% stake in the start-up, which specializes in sensor technology and obstacle detection based on artificial intelligence and deep learning.

"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 acquired an initial stake in the Israeli company, thereby taking another important step towards system solutions for automated rail travel.

Recently, Knorr-Bremse and Rail Vision announced that they will equip shunting locomotives 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:

Image 1: 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. | (c) Knorr-Bremse

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.
For more information please visit https://railvision.io/

Contact Knorr-Bremse:

Alexandra Bufe Knorr-Bremse AG
Head of Corporate Communications Moosacher Straße 80
Tel: +49 (0)89 3547 1402 D-80809 Munich
E-mail: alexandra.bufe@knorr-bremse.com www.knorr-bremse.com

Julian Ebert Knorr-Bremse AG
Trade Press, Rail Vehicle Systems Moosacher Straße 80
Tel: +49 (0)89 3547 1497 D-80809 München
E-mail: julian.ebert@knorr-bremse.com www.knorr-bremse.com

Contact Rail Vision:

Yaron Isovich Rail Vision
Head Marketing & Sales 15 Ha'Tidhar St. Ra'anana
Tel: +972 9-9577706 Ext. 4366517, P.O.B.
E-mail: yaron@railvision.io 2155, Israel
Gabriele Tabach
Public Relations & Marketing
Tel: +972 9-9577706 Ext. 115
E-mail: marketing@railvision.io

 


26.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Knorr-Bremse Aktiengesellschaft

Moosacher Str. 80

80809 Munich

Germany

Phone:

+49 89 3547 0

E-mail:

info@knorr-bremse.com

Internet:

www.knorr-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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