“System and Methods for Object and Obstacle Detection and Classification in Collision Avoidance of Railway Applications,” a patent filed by Rail Vision Ltd. (NASDAQ: RVSN), has been granted by the Japan Patent Office, the company has announced.
To identify and classify things on and near railroad lines, the firm’s artificial intelligence-based technology was granted patent protection.
The company said in a statement that, images may be processed to identify impediments, and live species and separate them from the surroundings based on temperature variations, and electro-optic sensors used to scan and monitor railway sceneries in real-time. At $1.27 in premarket trade, Rail Vision’s shares were up 15%.
SeatGeek And RedBall Ends Merger Plans
Tickets technology platform SeatGeek said it has decided to terminate its previously announced business combination agreement and reorganization plan with RedBall Acquisition Corp.(NYSE: RBAC).
An adverse market environment, especially for fast-growing technological firms, prompted this decision to terminate the agreement, according to the particular purpose of the acquisition business.
CEO Jack Groetzinger of SeatGeek said the company and its shareholders decided that a corporate merger was in everyone’s best interest because of recent market turbulence.
In premarket trade, shares of RedBall were up 6% to $9.94.
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